Turn on the news. Take a look on social media. When it comes to the financial world, so much of what you see is doom and gloom. So many people are worried and concerned about their finances, their livelihood.
This is what your clients are seeing and hearing around them.
As we enter a shifting market, there are so many conversations advisors are having with their very nervous clients.
When markets are going well, it can be an easy business. When markets are down, this is when you step up as a...
Turn on the news. Take a look on social media. When it comes to the financial world, so much of what you see is doom and gloom. So many people are worried and concerned about their finances, their livelihood.
This is what your clients are seeing and hearing around them.
As we enter a shifting market, there are so many conversations advisors are having with their very nervous clients.
When markets are going well, it can be an easy business. When markets are down, this is when you step up as a financial advisor. This is when you show your worth, build trust with your clients, enhance your relationship with them and set up your business for the future. This is when you can shine and show your value.
So how do you handle these tough conversations with your clients? How do you help your clients through these potentially challenging times? How do you find the opportunities in this market?
This week, Chris has a very candid conversation with someone who has been through downturn markets before and knows how to handle them: Dan Nolan. Dan has been a professional financial advisor in Ottawa since 1992 and and helped his clients through tough market cycles more than once. In the podcast, Dan says“It’s just another time of when markets are lower. Markets rise long term 80% of the time. It’s just another bout of market anxiety we’re going thorugh right now.” He’s here to share his knowledge and show you how you can use this opportunity to build real trust with your clients.
Dan holds the certified financial planners designation, the certified investment managers designation and is a fellow of the canadian securities institute. During his free time, Dan enjoys golf, playing hockey and spending time with his wife and three children. Dan is also kept busy by attending numerous charity events throughout the year and volunteering as a head coach for his son’s minor hockey team.
Dan got into it because he found investments a fascinating business. Back when he started, his father-in-law to-be was an investment advisor.and Danneeded something to do when he came out of universityHe joined his father-in-law and learned from him. After all these years, he’s stayed not because it’s an investment business, but because it’s a PEOPLE business! That’s what he finds so rewarding and fun.
In this episode, Chris and Dan discuss…
- Why your clients are worried right now and how the impact of the financial markets can take a toll on their financial situation. Yet, it’s not the overall markets they’re worried about. It’s their own situation. How can financial advisors help their clients understand and this relationship and not fear the downturns.
- How it’s important to always go back to a client’s financial plan and show them what their ultimate goal is.
- How to handle objections from clients such as “But it’s different this time…”
- How you can turn this moment into a real opportunity to build relationships and to set up your business for the long term.
- The type of conversations you should be having with clients to help them find the opportunities around them, no matter what type of market we’re in.
- The importance of building not only a business relationship with clients but a personal relationship as well.
- Advice Dan has received over the years that he would pass onto younger advisors.
- How the more value you create for others, the more value you create for your business.
- Dan’s most memorable client and why. Spoiler alert: it wasn’t about the money.
You can learn more about Dan and his team at https://investmentplanningcounsel.ca/deep-river
Would you like to have a chat with Chris? Have a question for him? Would you like to pick his brain? Set up a virtual coffee to chat here!
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