"We're also recommending structured product offerings that have a guaranteed return of principal feature, and variable annuities with guaranteed income riders.

In addition, to soothing nerves, Hubbard said his firm has held "fireside chat" type of meetings with clients and followed up with conference calls.

Christopher J. Cordaro, CEO and chief investment officer of RegentAtlantic Capital LLC in Morristown, N.J.: "Our clients have been relatively calm. We are not fielding calls from clients wanting to jump out of the markets. This is a by-product of our communication with clients about what to expect going forward. We have been telling clients since early '09 this is going to be a slow-growth recovery. Any bump in the road is going to cause us to wobble because we don't have a lot of momentum behind us."

The memory of clients that sold out in early '09 still haunts me.I will not let clients make the same mistake.The best way to communicate this with a client is with a strong I-position with the word "I" not "we." It conveys a deeper meaning to the client. An I-position that I have found effective is 'I am concerned about your long-term financial well-being and do not want to see you make a decision that may feel good short term but will hurt you in the long term.'"  

 

-Bruce W. Fraser

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