For advisors who find themselves in the thick of a market sell-off with high volatility and no end in sight, some empowerment and support goes a long way toward helping them and their clients navigate through it. Education, emotional intelligence and helping advisors recognize the opportunity at hand are among the steps firms can take to boost advisor confidence.
To learn the best strategies that firms can use to help advisors deal with market turmoil, we spoke with Ryan L. Kirk, President and Head of Portfolio Management at NewSquare Capital; Carla Novak, U.S. Pacific Northwest Complex Director at RBC Wealth Management; and Marc Robinson, Assistant Vice President, Product Management at Axtella.
We asked each of them: How do you boost morale and confidence of advisors during market turbulence, and how does that help them serve their clients?
Their responses follow.
Ryan L. Kirk, President And Head Of Portfolio Management, NewSquare Capital
Proactive communication is essential to boost advisors’ morale and confidence during market turbulence. When markets are turbulent and emotions are running high, we remind advisors of the importance of behavioral finance. Understanding common biases — such as recency bias and disposition bias — enables advisors to maintain a rational perspective, ultimately benefiting their clients’ long-term investment strategies.
We also stress the need to see past the noise and ignore the minute-to-minute headlines. We focus on facts and the long-term perspective, not predicting what will happen next, to help advisors communicate the need to remain disciplined.
Advisors, in turn, should have a plan in place to reach out to clients promptly when market volatility occurs, reinforcing their presence and expertise. By setting predefined triggers for communication, such as significant market drops or increased client inquiries, advisors can ensure they are not perceived as absent during critical moments. Advisors who actively listen to clients and acknowledge their feelings can foster trust and demonstrate commitment.
Additionally, providing emotional support and reassurance helps advisors manage their own anxieties while addressing client concerns.
Effective communication, demonstrated emotional intelligence and education on investor behavior empower advisors to navigate turbulent markets confidently, enhancing their ability to serve clients effectively and maintain strong relationships.
Carla Novak, U.S. Pacific Northwest Complex Director, RBC Wealth Management
During times of market turbulence, clients need their financial advisors more than ever, so keeping advisors informed and engaged through consistent, high-touch communication is key.
Since early March, we’ve hosted calls and webinars for advisors and for clients on the topics of market volatility, global trade policy and tariffs. We leverage our analysts who provide important context and analysis to help our advisors and clients understand the current market dynamics. There is a lot of uncertainty right now, and these regular touchpoints help prepare advisors to guide clients through the challenges.
Our financial advisors are proactively calling clients to go over their wealth plans and help ease anxieties. As professional, experienced and seasoned advisors, they’ve been through this before. As a leader, my primary goal is to keep advisors informed and armed with the latest information and resources they need so they are not feeling the pressure from both ends.
Marc Robinson, Assistant Vice President, Product Management, Axtella
It’s important to remind financial professionals that times of market turbulence are moments when their value to their clients can be most easily demonstrated. While market uncertainty is the price we all pay for doing business in this industry, and at times the weight of these moments can feel intense, we must remind ourselves that this is exactly when our knowledge and experience is of the greatest value to our clients.
When we help our clients focus on their long-term goals and effectively chart a path for their financial future, we provide them with a sense of calm in times of apparent crisis.
Taking this approach helps to cement our relationship with them, as well. Clients seek our guidance, but we must remember that what they often need is our presence, our understanding and our empathy. This is our moment to create a durable connection: Seize that opportunity!
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
