Been there…done that…got the tee shirt…posted it on Facebook!
Panic hits fast in today’s markets. It starts by gnawing away at your belief system.
Are we really just correcting or is this The Big One?
Is China collapsing under the weight of decades of hype? Or are there really a billion people who yearn for a better life, cleaner air and a couple of kids?
Did North Korea really detonate an H-bomb…or is this still a sad little place with a psychotic leadership structure that could be eliminated in about 45 minutes by a single U.S. carrier group?
Advisors in today’s profession will face many events and crises that seem to threaten our very way of life. Whatever you choose to believe is up to you. I’m not making a prediction either way. I know what I believe but you have to find your own path and build your own confidence from experience.
Regardless…you can’t appear scared! We don’t have the luxury of hiding from our clients. This is not the time for duck and cover. It’s the time for injecting some steel in your voice and stepping up. I’d say “man up” but we are in the Golden Age of Women and female financial professionals are transforming our entire industry…so that’s not appropriate anymore.
Make sure your clients know this isn’t your first storm and that you are calmly in command at the helm of the ship. No one wants their Captain cowering like a frightened puppy.
Turn off the media torrent of noise and fear. Relax and think about the big picture and ask yourself some critical questions.
What can I do now to strengthen my best client relationships and reaffirm my value as a trusted professional?
How can I use confusion and uncertainty to add to core investment positions at great prices?
How can I reach out to new clients whose advisors are hiding from them?
What will I learn from these events that I can use to make myself a better professional?
Who can I count on to give me solid wisdom and advice and who should I never listen to again?
So stay calm, have some fun and enjoy the End of Days. And forgive me if I seem less concerned than you think is warranted.
I just refuse to panic anymore.
It’s never once been profitable.