Tom Bradley recently became senior vice president of Advisor Services for Charles Schwab, which is planning to buy rival TD Ameritrade. Bradley led both TD Ameritrade Institutional and TD Ameritrade’s retail distribution as part of his 31-year career at TD and its predecessor firms.
My top piece of advice for advisors is something they know well, and that is this … it is easy to get clients to stay the course in good times; doing so in difficult times is hard, but that is what advisors get paid to do.
Your clients are watching you, and it is critical you remain relaxed and confident about the future and the plan you set in motion for each of your clients.
If they stay the course, they will be fine in the long run, and it’s important to reassure them of that and to constantly communicate with them.
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Change management is often one of the most difficult things for leaders to execute against, and we’ve seen a massive amount of change in our industry in an incredibly short period of time.