I asked my 88-year-old father recently how he thought the mood in the United States compared to what it seemed in other decades he remembered.

After a moment he said, "It seems like people don't feel as much like they can do it-can make it. They're more fragmented, more bitter. After all the problems on Wall Street, they see no one has gone to jail."

I suspect that financial advisors have many clients with similar observations. People like my father, financially successful and generally optimistic, but who see the country's mood as negative. Even a client who has plenty of money undoubtedly knows a friend or a relative who is struggling because he or she has been out of work for a year or more, or lost all the equity in his or her home because of the collapse in housing prices after the 2008 financial crisis. And then there's the depressing song we hear constantly about people not saving enough for retirement, about Social Security and Medicare going bankrupt, and how many solutions mean people have to make due with less. This is what's playing at a time when many people already have seen their standard of living drop, and if it hasn't they are worried it will.

A financial advisor is in a good position to strengthen relationships with clients by asking about their concerns, listening patiently and being a neutral voice of reason. Asking simple open-ended questions like, "What are your kids doing these days?" "What do you think about the presidential election?" or "How are things on your job?" can produce answers that give you a chance to probe further and help you get to know your clients.

Even when their answers are tinged with uncertainty or sadness, clients will be glad you cared enough to ask and listen. Not only that, but in some cases you might be able to change perceptions a little. Advisors, by virtue of their jobs, should be more informed about the economy and financial markets than others and certainly can highlight bright spots that may lift a few clients' spirits. As the economy improves, you can continue the dialogue with positive updates.

These efforts will help solidify your client base and may help you get a few referrals. But growing your business in this era of distrust, intense competition and 24/7 communication means you also will need a well-devised marketing plan. This issue's cover feature, "Getting The Word Out," by Ben Mattlin on page 88, provides many good strategies.

You'll also want to read John Bogle's proposals for overhauling the U.S. retirement system in "The New Pension Plan" on page 35. I'm sure you won't be surprised by the ideas proposed by the founder of The Vanguard Group, but you may be impressed by the depth and thought behind them.

I'm proud of all of the articles in this issue, and another I'd like to highlight is on page 97, written by Senior Editor Jeff Schlegel, on investing in precious metals. He does an excellent job of explaining in a very understandable, interesting way how gold, silver, platinum and palladium investing works. In fact, I'd recommend you pass it on to clients who could benefit from or want to know more about investing in hard assets.

Dorothy Hinchcliff, Managing Editor
E-mail me at [email protected] with your opinion.