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By David RichmanManaging Director, Advisor Institute

This is your time, not despite the anxiety and challenges brought on by inflation, rather precisely because of it. Let's reflect upon the lessons gleaned from the mistakes made in a bull market and the opportunities missed in a bear market:

  • Markets over steer, often radically.
  • Never underestimate greed at the top or fear at the bottom.
  • Judging the emotional reaction of others can be a very valuable investment management tool.
  • Do not give too much weight to your own fears.
  • Rebalancing in both good times and bad is important.

If there is a single lesson to be learned from the experience of living through a few bull and bear markets, it is the old adage of "this too shall pass." Focus on this as a propitious moment to both nurture client resilience and attract new clients.

You cannot communicate too much with your clients right now. Call them to help provide clarity and calmness during these turbulent times: "You can count on me to always stay on top of your investments and in close contact with you during up and down markets as well as throughout your life's journey."

Appreciate the opportunity of this moment as well. Prospective clients are not feeling complacent right now either. Dust off that pipeline and genuinely ask: "How are you faring in today's markets?"

Bottom line: Big market moves put relationships in motion. Hold your clients close while also bringing value to tomorrow's clients.