Wall Street, advisors and the role of educating clients

Image: suphakit73 / FreeDigitalPhotos.net

Image: suphakit73 / FreeDigitalPhotos.net

In light of market volatility on Wall Street we asked advisors if they have taken on more of a teaching and education role with their clients. Below are highlights from the information we’ve gathered so far from advisors:

“I have always taken on the role of educator to the people I work with. I think that is so important.”

“I was always in teaching and coaching mode. I feel it as necessary to doing proper business and due diligence.”

“I will sit down with my clients and show them step-by-step my processes and explain to them in very specific details about what we will be working on.”

“I am finding more often I need to prove the stability of a carrier, even those with world-known reputations.”

“In our practice, we have weekly training classes for our agents.”

“As for in-house, we coach to the skill set employees have, then we grow them from there. We coach clients towards the things that matter most to them, discussing the things they use the most in the order that they use them: health, life, building assets, protecting assets, not outliving their income.”

“Clients want to hear from their advisor/agent. We’ve found that showing them alternative solutions and case studies of people in a similar situation helps in their understanding of the material.”

“Possibly more so now than ever before, we find that clients are skeptical. It may take longer to close business as clients need to be more sure about the financial decisions that they make.”

“It has never been about shoving a strategy or concept down anybody's throat, it's about showing them the opportunities that are out there. If you do a good job explaining the plan, the clients will choose their own path.”

"I have made a considerable effort to become a consulting firm for the past 25 years! The financial crisis was just a blip on the screen in that regard."

"I have always practiced education before selling in my practice. I find that since the (market collapse of 2008), clients are more skeptical and need more education and coaching than before.”

I want to extend the question to you as well: Are you using the uncertain markets as a teaching tool to educate your clients about safe products? Please leave a comment below if you have thoughts on this important topic.

About the Author
Daniel Williams

Daniel Williams

Daniel Williams, Editor-in-Chief of the new Retirement Advisor magazine (formerly Senior Market Advisor) and Annuities Channel Editor for LifeHealthPro.com, is an award-winning journalist and business editor with extensive experience in print, online and trade shows. Prior to joining Senior Market Advisor, Daniel was editor of Real Estate Southern California magazine and West Coast South Bureau Chief of GlobeSt.com, both are divisions of Real Estate Media. Previously, he covered the commercial real estate beat for the Orange County Business Journal. While there, he received a certificate of merit from SABEW (the Society of American Business Editors and Writers Inc.) for a story on "OCs Cash Economy." A native of the Deep South, Daniel relocated from Los Angeles to Denver with his wife and daughter and can be reached at dwilliams@SummitProNets.com or on Twitter @LHPro_Annuities.

Related Life Planning Strategies Resources

Powered by


Advertisement. Closing in 15 seconds.