Be in touch with clients when times are tough

Mar 12, 2020

Markets have been in turmoil due to a concoction of negative news like Corona Virus and the Yes Bank saga. Reflecting the chaos on street, the Sensex has dived 20% since January 2020 till now. Other world markets are in red too.

This would have worried some of your clients. Some of them would be looking for reassurance. Thus, having a regular communication plan with clients is essential. Today, advisers have multiple ways (emails and social media) to remain touch with clients.

Here are some ways you can communicate with clients:

  • Have a content marketing plan. This will contain the messages you wish to communicate and what media to use (WhatsApp/emailer/social media).
  • Share content which is relevant and timely. For instance, should clients stop their SIPs since markets are declining or a historic snapshot of how markets have recovered after every crash.
  • Take feedback on what clients like about you and in what areas you can improvise.

Educate clients about investing biases

For clients who are worried at the slightest sight of volatility, advisers would do well to communicate the biases they face and how to overcome them.

How to Navigate Clients’ Financial Anxiety During Market Volatility.

Communicate your strategy

Advisers who have been in regular touch with clients by educating them about how markets behave and how they should interpret news may not have received panic calls from clients. Communicating to ‘stay the course’ is essential. At the same time, advisers need to reassure their clients that they are monitoring the situation and would act if the situation warrants. For instance, sharp falls like these necessitate tweaking client’s asset allocation in line with their investment goals. Some advisers are using the crash as an opportunity to encourage clients to enter the markets.

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