5 Ways to Thrive as a Financial Advisor During Uncertain Times

Particularly during periods of economic difficulty, financial advisors are in the unique position to offer advice. The past few years have seen many people reevaluating their priorities and making significant career and life changes. As people react to critical changes in their personal lives, as well as to increasing economic uncertainty, financial advisors have an opportunity to step up.

Financial advisors can do a lot to help clients keep peace of mind as they continue to make sound financial decisions that inform their path to maintaining long-term financial stability. Wealth managers can do this by staying calm, thinking in the long term, and staying proactive in keeping up with current events and movements in the financial market.

Although it may seem counterintuitive, this is the time to capitalize on building long-term trusting financial relationships, though you will have to take deliberate steps to make this happen successfully.

Here are some things that you can do to thrive as a financial advisor during financially volatile times.

1. When appropriate, give more than just financial advice

Wealth management is not purely about finances. It is about helping clients make advantageous life decisions. This may not be what every client wants or needs, but it will undoubtedly be helpful for those changing the trajectory of their careers. As an advisor, you have the unique opportunity to guide clients through critical life decisions related to their finances. This added dimension can give advisors additional value as a kind of life coach–someone who not only cares about their client’s assets but also about their lives.

2. Communicate

Communication is key, especially when the financial market seems to work against you and your clients. During times of volatility is when your clients need you most, and good communication is essential to keeping your clients’ trust. Keep reaching out to them, be encouraging, and remind them of their strategy. When clients are impatient to see results or are uncertain about their strategy, you can be there to either help them adjust or to encourage them to stay the course.

Don’t wait to be called by a furious client. Be proactive and make the calls that you need to keep your clients sticking to their long-term goals and plans. Utilize an omni-channel approach, using in-person as well as a variety of digital channels to connect with clients.

3. Stick To Your Financial Plans

While small adjustments may be warranted, it is not necessarily a good idea to make risky or sudden financial decisions during times of extreme market volatility. Although some clients may be unhappy, stick to the long-term goals and financial plans you have already created, even if it means keeping clients with steady, conservative investments. Encourage them to have patience, and stick to what you know are proven investment practices.

4. Keep Prospecting

Keep working and developing trust with the clients that you already have. However, times of financial unrest are a prime time to be out prospecting for new clients. When markets are uncertain, there’s a real need for people to look for good financial services. People are worried about their finances and their futures, and they want to hear from people in wealth management. You may also find that people are unhappy with the financial services that they have been receiving and are in the market for someone new, which is where you come in.

5. Take Care of Yourself

As you ask clients to hold steady during difficult times, you have to hold steady yourself. If your clients are especially stressed then you will likely feel that stress second-hand. Financial advisors care about clients and can be deeply affected when emotions are high. To cope with the pressures, take good care of yourself. Burning yourself out will not help your clients.

Some things that you can do to reduce stress during difficult times are:

  • Eat healthily and exercise.
  • Clear your mind using meditation or other strategies.
  • Keep doing things that keep you grounded and happy (hobbies, spending time with loved ones, etc.)
  • Be careful with alcohol and other substances that can negatively affect your mood and work.
  • Consider talk therapy or another source of emotional support.

You need to safeguard your mental health. This will keep you in the best position to help your clients make important decisions.

Contact me for financial advisor life coaching. I can provide support and advice on how you can meet your challenges in financial services to achieve the goals and life that you want.


5 Ways to Thrive as a Financial Advisor During Uncertain Times


Financial advisors are crucial during economic hardships, offering valuable guidance. They excel with five strategies: providing holistic advice, effective communication, adhering to financial plans, prospecting new clients, and prioritizing self-care. Successful wealth management includes guiding clients beyond finances, building trust-based relationships. Open communication reassures and supports clients during market volatility. Adhering to plans and proven investment practices maintains clients’ financial track. Advisors can capitalize on the demand for reliable services by prospecting new clients. Prioritizing self-care enables advisors to make sound decisions, fostering lasting relationships amidst economic uncertainty.

5 Agile Tips for Financial Advisors Infographic