With all the theater in Washington these days, many people are very concerned about the national debt, the price of oil / gasoline, government spending and congress's likely impact upon their investments and retirement. Do you have a ready answer for clients who call with concerns? The odds are that your firm has already provided an official statement and I would encourage you to become familiar with it and the regular updates that will follow as new bills affecting small business taxes, healthcare and retirement payments move forward into the headlines.
After the recent financial meltdown, many clients (especially older clients) need to be reassured that everything will be all right. Financial advisors who failed to provide this kind of support in 2008 found many of their clients selling out their investment positions at the bottom of the market, losing a significant portion of their nest eggs. On the other hand, advisors who kept their clients updated on a regular basis, especially those who created or updated clients' financial plans were able to maintain stability during an unstable period. Sometimes, that's our most important job. Make it a practice to keep in touch with your clients. Thanks and good luck. kfg
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