There’s quite a bit of talk about the possibility of a recession. As these most recent market corrections alter how your clients think about their spending, portfolios and future, you’ve undoubtedly thought about how a recession will affect the future of your business. Market corrections are an opportunity for you to reassess, retool and recalibrate for the future ahead.
First and foremost, now is the time to adjust your marketing plan. It’s definitely a good idea to pull back from any spending that appears to superferolous, but your marketing budget shouldn’t fall into that category. When markets get scary, your clients and potential new clients need your steady voice more than ever. Increase the strength of your message and get loud about how you serve clients when the markets are volatile. Make sure your team is ready to get in front of your clients, listen, plan and guide. This is the time when quality firms prove their value and grow.
With many up and coming software and service providers potentially struggling due to the economic climate, there is a great opportunity for firms like yours to make sure you are using quality advisor technology that has endured market downturns. At tru Independence, we partner with the best of the best providers so that we can objectively provide you with the most stable, top quality advisor tooling.
In the midst of rocky waters, we can either get seasick or we can learn to ride the waves – becoming more confident, more resilient and more adjusted to the future that your team, your clients and your community need helps you build endurance. In the same way that you help your client navigate these uncertain times, tru Independence exists to help you through the uncertain waters of running an independent advisory firm.