Opportunities in Times of Uncertainty: 3 Steps to Your Breakout Year

Now that states are beginning the process of opening for business, it is not too soon for financial advisers and planners to take yourselves out of reaction mode and back into making this a breakout year for your business. Notice that I said “breakout” not “break-even” year.

Assuming that you’ve taken all the steps necessary to stay in touch with your clients, one-to-many (emails and webinars) and one-on-one (phone/video calls and individual emails), you may be asking yourself:

• What’s next?
• Is it even possible to reclaim business opportunities that were lost when we were working from home?
• Will there be a resurgence of COVID-19?
• Who knows how long it will take for the markets to recover, let alone get back to growing?
• How is having a breakout year even possible?

Seizing the Opportunity

Experienced advisers and planners know that their best opportunities for new business occur during times of uncertainty and market volatility. Why? Because clients are less tolerant of advisers who don’t help them plan for the unexpected, who don’t recommend well-diversified and structured portfolios and most of all, who don’t proactively communicate with them. That means that there are plenty of clients out there who may be more willing, or at least open, to consider a new adviser relationship.

So, what do you need to do now to build your breakout year?

1. Make sure you are providing the strongest, most comprehensive and consistent client experience you can deliver. If you give your clients an experience that is truly transformational, you’ll be their adviser for life.
2. Educate your clients such that they become confident advocates for you and your practice. That means they know how to recognize people to need to meet you, and they know what to say to make that happen.
3. Be intentional and consistent in your business development activities. Create your marketing plan and live by it, week after week. Strengthen your networking abilities so that more people know you, understand what you do and see you as a great person and a great financial adviser/planner.

Are you ready to get started on your breakout year? There’s no better time than now.

Adam Kornegay is a co-founder of Pathfinder. With an enthusiastic and upbeat style, a background in marketing, experience as a financial adviser, and certification as a Registered Corporate Coach, he helps a broad array of clients, from relatively new advisers to experienced financial planners. He is a coach in the Messaging and Marketing Strategies FPA Coaches Cornerand the Membership Director for the FPA of East Tennessee.