My column this month in Investment Executive dealt with a major change in what it takes to communicate effectively with a growing number of existing and prospective clients – and in particular focuses on the growing importance of video based communication.
In understanding the need to change our thinking on communication, it’s important to look at the broader shift in mindset among many clients.
Until recently, most investors would respond to a recommendation with “If that’s what you think, fine.”
Today, even if the same decision is ultimately reached, conversations are taking longer and investors are asking tougher questions – and often looking for back up via direct access to experts.
How can advisors stay motivated in the face of tough day after tough day in markets, a relentless stream of bad news in the media and a succession of difficult client conversations? One useful strategy can be “framing” the way you think about market events or tough client meetings to control the impact these have on our mood. Last week, I was invited to participate in a conference call for advisors by Mackenzie Financial. In talking about the theme for this call, we decided to concentrate on strategies that advisors can put in place to maintain motivation and a positive mindset.
Earlier this year, I conducted a series of workshops sponsored in part by Mackenzie Financial.
Recently, a Mackenzie wholesaler emailed me with a question from an advisor, curious if I had any ideas on how to initiate referrals targeting million dollar plus clients.
As you move up the high net worth ladder, confidentiality becomes a bigger and bigger concern – and anything resembling a traditional mass market approach to referrals simply doesn’t work and in fact can harm the relationship.
The Ins and Outs of Physically Backed Commodity ETFs by AdvisorAnalyst 17 Mar 2010 at 8:19am
This article is a guest contribution by Tom Lydon, ETFTrends.com.
Commodity exchange traded funds (ETFs) have attracted a rabid investor following... Pressure Increasing on China to Revalue Yuan; What Can Go Wrong? by AdvisorAnalyst 17 Mar 2010 at 8:15am
By Michael ‘Mish’ Shedlock
Pressure on China to do something about its allegedly undervalued currency is mounting by the day. Please consider the... Lessons from India by AdvisorAnalyst 17 Mar 2010 at 7:48am
by Norm Trainor
I just returned from a ten day business trip to India. During my trip, I learned many lessons about life, business and people in I... A Conversation with George Soros by AdvisorAnalyst 16 Mar 2010 at 9:40am
George Soros is interviewed in great depth at Hong Kong University, February 3, 2010. In this lecture, he shares his outlook, his thoughts on finan... Stock Market Valuation is Stretched on Long-term Basis by Prieur du Plessis, Investment Postcards from Cape Town 16 Mar 2010 at 9:29am
With the S&P 500 Index and a number of other benchmark stock market indices flirting with cycle highs, I will be monitoring things very closely ove...
Stay on top of the latest headlines from the Wall Street Journal Online.
WSJ What's News Late Edition, March 17, 2010by The Wall Street Journal 17 Mar 2010 at 4:56pm
Stocks rise again as the Dow closes at a 2010 high; wholesale prices fall in February, showing inflation remains in check; and MillerCoors shakes things up with a new brew.
Jeffrey Saut Daily Audio Comment Raymond James
Listen to the recording with one of the media players below:
Jeff Saut’s Daily Audio Comment is recorded every weekday, except Wednesday, at 9 a.m. ET. It is made available to the public on this Web page at approximately 1 p.m. ET.
How can advisors stay motivated in the face of tough day after tough day in markets, a relentless stream of bad news in the media and a succession of difficult client conversations? One useful strategy can be “framing” the way you think about market events or tough client meetings to control the impact these have on our mood. Last week, I was invited to participate in a conference call for advisors by Mackenzie Financial. In talking about the theme for this call, we decided to concentrate on strategies that advisors can put in place to maintain motivation and a positive mindset.
Updated Twice Daily - Click to Listen