Keeping the faith" may appear easier than it really is. The statement implies maintaining stability, integrity, and of course, client reassurance. But in a market where client reassurance and investor confidence have become nothing less than the top priority, many advisors are finding it to be the toughest aspect of their job.
When asked to do so in a recent online reader survey, planners shared their insights about investor reassurance, how they are handling client woes, and other important issues they face.
When asked what the most challenging part of the job is in serving clients, the number one answer was "time," and surprisingly enough, this not only dealt with client handholding and extra phone calls, but also in "keeping up with the business of the business–paying bills, HR stuff, regulatory matters, etc." as one planner wrote. "Making sure that we don't let small items fall through the cracks, and making sure that clients feel taken care of on a regular basis," another wrote.
Here are some of the other responses readers posted at investmentadvisor.com:
o Getting [clients] to see the long term.
o Maintaining helpful and open relationships with existing clients, while at the same time developing relationships with new clients.
o Dealing with the onslaught of negative news in the media.
o Getting clients to trust the process that we are going through now.
o Reassuring clients that [the recent accounting] scandals will make for a more transparent investment scene.
o Helping them understand that they, too, have to curtail their luxury purchases and expenses in these times.
