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A list of Dan Richards’ previous articles appears at the end of this article.

Dan Richards

What’s your main goal when meeting with clients?

Given the beating their portfolios have taken and the general mood of skepticism, often it’s to have them leave feeling more optimistic and upbeat about their future prospects and in particular about your role as their advisor.

After all, people shouldn’t see meeting with their advisor as an invitation for pain, like going to the dentist. Instead, your goal is to have clients walk away from meetings feeling better than they did when they came in.

Complimentary Webinar
with Dan Richards:

It’s not Business as Usual:
Five New Imperatives for
Effective Client Communication

Dan Richards is one of today’s best known voices on what it takes for advisors to solidify relationships with existing clients and to attract new ones.  In this webinar we will review how things have changed in the past year and what advisors need to do in response.

Wednesday, October 28, 2009
4:00 PM - 5:00 PM EDT

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Here are three ways to uplift your clients’ spirits, while confronting today’s crucial issues and building your credibility.

Help clients regain control

These days, many investors feel powerless and out of control of their financial futures, victims of forces beyond their control. That sense of powerlessness weighs down on clients and creates stress and a pessimistic outlook.

Often, the first step to inspiring clients is to help them regain control of their financial future by taking a planning approach with their affairs.

When you work through how much money clients will need to retire, based on their target retirement date and lifestyle, and compare that to a conservative estimate of how much money they’ll have, there will often be a gap between those two numbers

That means they feel powerless – and here’s where you can roll up your sleeves and work with clients to help them regain control of their future.

Financial planning is all about identifying tradeoffs … so if there’s a gap, clients can cut back on spending and save more. If one member of a couple isn’t working, they can get a part time job. They can extend the age at which they plan to retire, cut back on how much they plan to spend after retiring or decide they’re going to work part time after they retire.