No one wants to receive a registered letter from the IRS. It might be an audit. It sends chills down your spine.
Getting your brokerage account statement after a terrible month is right up there on the chilling scale. Regardless of whether your clients get it online or via surface mail, you need to be prepared.
The stock market's been going through a rough few weeks. The bombing in Iran started on Saturday, Feb. 28. The previous month's stock market trading wrapped up on Friday, Feb. 27. As of Friday, March 20, the Dow Jones Industrial Average was down about 5% month to date. Depending on how the month ends, clients might see significant losses on their March statements.
Why is this important?
Have you heard the old joke, "What's the difference between involvement and commitment?"
Consider ham and eggs for breakfast. The hen's involved, but the pig's committed.
If your client sees lower values on their statement, they'll realize they're committed.
Here are a few things you can do to address the issue. Be sure you reach out to all your clients, and let them know they can talk with you whenever they feel the need.
Find a way to relieve stress in your own life. You might be having several days of back-to-back conversations like this one. It's one of the ways you add value to the client relationship.
1. Call before they call.
You know the clients who'll be the most nervous. Figure out when statements will be online or arriving by mail.
Call them in advance to prepare them. Be ready to review their statement with them over the phone.
Let them know you're proactive.
2. Let them speak.
If they're anxious, don't try to speak first or "calm them down."
Let them "get everything out." Listen and make notes, so you understand their concerns. Give your answers in the context of those concerns.
3. What does your firm say?
You've got a research department. You've got award-winning strategists. Become familiar with what they're saying.
Make up a list of FAQs you know your client will have. Find the answers to those questions.
4. Look at performance from different time perspectives.
Your client's seeing performance for the month of March. What's their performance year to date? What was their overall 2025 performance?
People often measure from the "high water mark." You can help them put the numbers in perspective.
5. Don't put them on the spot.
They're not getting "unnecessarily worried." They're worried for very good reasons.
You might be a professional, but you're getting scared too. You want to be the voice of reason.
6. Focus on the long term.
This isn't money they need tomorrow. (It shouldn't be!) These are investments in place to help them prepare for retirement at a distant date in the future.
You aren't concerned about where stocks are today or tomorrow, it's where they'll be in (x) years when they're ready to retire. Remind them markets are cyclical.
7. What action should they be taking?
You've been calming them. You've painted a picture of the future. Remind them why they own certain stocks and how they support trends.
Although sitting tight might be a message, you should also have some ideas about what to buy. Your firm will have a list with reasons for each recommendation.
8. 'We're all in this together.'
When you go to your family doctor, you might be ill.
They're not. Investing's different.
They're invested. You're invested. If they're losing money, you're losing money too. You're feeling the pain in your own portfolio.
Credit: Adobe Stock
Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book, "Captivating the Wealthy Investor," is available on Amazon.
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