Advisors Are Taking A More Consultative Approach

Charles Brewster, a fee-based planner from Osterville, Mass., adds that by taking this type of approach agents have the opportunity to build a more valuable relationship with their clients.

"The public is looking for an advisor to hold their hand," he says. Brewster meets with his clients every quarter and updates them on their accounts, their protection, and addresses any concerns they may have. By keeping his clients informed, he says he minimizes any panicking that may occur due to the stock markets volatility.

"Certainly theyre afraid, and the numbers look bad, but today I had an appointment with someone who had a 4% gain since our last meeting and they were pleased."

Brewster notes that the people who panicked when the markets stumbled were the ones who didnt have a relationship with someone who could explain what was going on.

–Barry Higgins

Reproduced from National Underwriter Life & Health/Financial Services Edition, December 30, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.