For this issue of Market Conduct & Suitability, Jay Grubb of Key Financial Partners, who is a financial, retirement and estate planning specialist in Gwinnet Country, Ga., provides his thoughts on how advisors can survive and continue to do the right thing during these tough times, and explain to their clients why now is a great time for safe products.
Senior Market Advisor: With times tough and uncertain, it’s an opportunity for you to be the calm amid the storm. What are you doing right now to allay your clients’ fears?
Jay Grubb: Go over your clients’ plan again to reassure them that they are still on course. I always show them if they stayed in their previous investment how much money they would have lost if they didn’t make a change.
SMA: Since the economy has hit its rough spots are you seeing your sales up, down, or the same?
JG: Up. It is strange, but business is going great ever since the market has started to drop. I guess they finally see why safe money strategies are critical for people in retirement.