Haman’s second bit of advice: You should spend the time preparing to deliver a truly sophisticated capital markets perspective.
According to Haman, the market perspective advisors create should anticipate and answer client questions such as:
- Do you see things as seriously as I do?
- Do you know more than I do about these markets?
- Do you have a perspective?
- Do you see directionality in the markets?
“The client needs to know what the causes for concern are. But they also need a balanced perspective with rational reasons for hope. So this is the time not to be flying by the seat of your pants but to be preparing some thoughtful commentary on the capital markets,” he said.
Finally, as you wrap up your client review during this quarter, it’s important to remember the fundamental question every client has of their advisor, which according to Haman is: “In spite of what has happened, can I still have confidence that the future that I want and that we’ve been working toward is the future that I’m still going to get?”
“This is the fundamental question that the review needs to answer,” he said. “The client needs to know ‘Am I still going to be OK?’ and ‘Is the vision that I have for my future still solid?’”
Following these principles will go a long way toward helping advisors have a successful review and building even stronger relationships with clients, he added.