Consistent client communication takes time and often pulls advisors away from operations and planning work. The McBride Group has carved out a niche with their monthly client update videos covering portfolio performance, markets, and the economy.
Investing 101 teaches us that diversification is mandatory. To manage risk, you don’t want all of your eggs in one basket. Having a mix of securities across sectors, industries, and regions can help your portfolio withstand unexpected dives. Stocks, bonds, and alts all have a place in the modern portfolio.
In my years as an RIA, I’ve seen a number of colleagues who show up with their full hearts and minds on the job. We are a remarkable community. We work constantly and tirelessly for our clients, and by and large we understand the enormous task that is stewarding wealth.
Anyone with any degree of tenure in financial services has likely weathered down markets. Today’s market environment is particularly precarious. With tariffs starting to impact prices and shifting geopolitical realities, even the surface-level apparent strength of the market seems illusionary.
Though the markets have been resilient, warning signs are flashing. Wages have been stagnant for a long time, the effects of tariffs are starting to be felt by consumers, the geopolitical picture of the world is bleak, and political strife could impact the markets at any moment. Your clients are likely anxious, and it is your job as their financial steward to ease that anxiety. Here’s what you can do.
Video updates are an underused tool that can be useful for advisors looking to succinctly communicate information and build client trust. With email inboxes perpetually bombarded with long walls of text, a simple video can go a long way. But for many advisors, a video update is challenging to execute.
The world has become an increasingly complicated place. RIAs need to do more than simply be good stewards of wealth who can offer sage financial advice—they need to be true partners to their clients and connect on a human level. It is no longer enough to simply understand the markets.
As financial advisors, clients trust us with their wealth. This is a profound, almost sacred trust. Money is possibility, and financial advisors with sound judgment can create possibilities for their clients. At the same time, financial advisors who lack judgment can diminish possibilities and even add to a client’s struggles. Everyone is aware of the stakes when they choose their financial advisor, and it is on the advisor to demonstrate they are up to the task and worthy of the client’s trust.
In a recent video, FMG’s Samantha Russell said,
“I always like to say that nobody fires their advisor for overcommunicating, but they might find a new advisor if you don’t communicate enough.”
Communication is critical in every aspect of our lives. Think about your marriage and your friendships—if you communicate, the road is clear. Fail to communicate, and relationships grow rockier.
