It’s been a very troubling couple of weeks, and no one really knows how things will pan out. Paulson’s bail-out plan has been under siege by the representatives on capital hill, and while they argue, the credit markets are freezing up. Tick-tock, tick-tock, goes the crisis time-bomb.
These are deeply troubling times, and that’s what makes them so great for getting referrals.
You may be fearful yourself, it’s only natural, but you are an expert. It is in such times of uncertainty and fear that your value as an authority shines the brightest. You can’t let the paralysis born of negative emotions prevent you from capitalizing on such a unique opportunity.
Here’s what Erin Tamberella of Executive Transformations has to say about the current referral potential:
“Referrals may be the furthest thing from your mind right now, but I can tell you from talking to advisors all over the country that both solicited and unsolicited referrals are on an upswing. Why? Human nature is to want to help, and people recognize that everyone could use some extra financial help and guidance right now."
A great time to position yourself for referrals is when you call your clients to touch base and relieve their concerns (something you should be spending much of your time doing in this environment). Erin suggests the following:
"Make this your closing line in every single client conversation: ‘By the way, do you have any friend or relative who has been touched directly by any of the institutions in the news and might appreciate a phone call from me with a quick update for them?’ Establish yourself as caring, compassionate, and wanting to help.”
So stop hiding under your desk—get up and grab the phone. You
can’t control what happens in
Other wisdom about what to do in a tough market environment like today's can be found in these articles (free registration required):
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If your clients are losing money and you're losing confidence, you need to raise your activity levels starting today. Follow this campaign outline to raise new assets. You'll battle creeping paralysis, boost confidence, and position yourself in your clients' eyes as a seasoned investment pro.
10 Rules for Reassuring Clients in Volatile Markets
When markets are volatile, we're more stressed and so are our clients. That's when it's more important than ever to articulate our recommendations and provide reassurance of a positive outcome. Here are 10 rules of effective language.
Calm Edgy Investors by Renewing Their Goals
Market gyrations make for squirmy clients. Mellow them with some sage guidance.
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