Ask The Experts: Jay Grubb

SMA: What are some key tips or action items that you can give other advisors to help them succeed during this turbulent market?

JG: Use the negative media and market as an opportunity to talk to people. An opportunity to talk to someone about their finances like this doesn't come around that often. Take advantage of it. Develop safe money strategies for your clients (prospects and current clients). Get referrals from existing clients. Meet with existing clients and go over their statements. (You will get more business!)

SMA: What type of questions do your clients have for you and how are you addressing/answering those questions?

JG: Most of the questions I am getting have to do with the insurance company and them going out of business, or a question here and there about AIG. My response is, "Most of the companies I deal with have been around for hundreds of years and have been through times more difficult than this one we are in now."

SMA: When there are tough times, we never seem to see a lack of finger pointing and playing the blame game as to why we're in the state we're in, but what as an individual or as an industry do you see that can be done to help turn this thing around?

JG: I think for people to wake up, take a deep breath and relax. The world isn't coming to an end, but times are tough. The best thing we can do as an industry is take advantage of this and tell everyone we can talk to about safe money solutions for their planning going forward. Learn from this disaster as a lesson to our industry and our clients that when you are relying on something you aren't in control of, these types of occurrences can happen and do happen. We cannot turn back the clock, but we can plan for tomorrow.