Dave Quoted in Journal of Accountancy - Calming Clients' Fears During the Coronavirus Outbreak
Dave was recently quoted in an Article by the Journal of Accountancy. In the article, several advisors are discussing the importance of proactive client communication in order to ensure that investors know what to do during these volatile times in the stock market. Here are the three important points mentioned by the article...
- Offer Perspective
- Sometimes reminding clients of periods of volatility in the past can help them remember that market volatility is a normal part of investing. Educating clients about the stock market can help give them the confidence they need to stay with their original plan.
- Keep In Touch
- Being proactive in your client communication is important. You never know how clients are actually feeling, so it is important that they know that you are monitoring the situation and that you will make any necessary recommendations and adjustments along the way.
- Lend an Ear
- Above all else, it is important that advisors remember that client concerns can be very real when they watch the value of their portfolio fluctuate. Taking time to listen to clients and reassure them that they are on the right path to financial success is incredibly valuable.
Volatility is normal in the stock market, but that doesn't mean that client concerns should be ignored. A big part of the value that an advisor provides is the peace of mind that comes from knowing that there is a professional who cares about their concerns and is looking out for their best interests.
Please feel free to reach out if there is anything that we can be helping with.
Stolz & Associates, PS.