—Paula Harris, co-owner and principal at WH Cornerstone Investments
Use Marketing To Let The Prospects Hear Advice
“We would spend some time talking about the subject and what to do about it on the marketing we already do. Two radio shows, my biweekly articles and my newly established Monthly Musing to Clients and Prospects.
The discussions would be varied and come from many different perspectives but the focus would be what to do and not do and how to survive from a planning and investment perspective.
During the 2000 to 2002 mess I opened up ‘World Optimism Headquarters’ on the Radio Show and beat the subject to death for two long years.
During good times we tell people not to be stupid and greedy. During bad times we tell the world is going to get better and deal with it. Handholding, hugs, dope slaps. Whatever is necessary.”
—Mike McNamara, founder and financial planner at McNamara Financial Services Inc.
Double Marketing Efforts
“A market downturn is an excellent opportunity to gain new clients. When times are turbulent the tendency is to hide or to hunker down but what we should do is double up our marketing efforts. This is when people are looking for advice and aren’t hearing from their current advisor. As tough as 2008 was we were able to capture new clients because we reached out to clients and even though things were difficult there was a void of leadership. We called more, had events and didn’t shy away from tough conversations. It’s been a long time since people have experienced a serious down turn so when it happens it will probably be even more dramatic and upsetting to people.”
—Wade Chessman, president and wealth advisor at Chessman Wealth Strategies