Where there’s market volatility coupled with an unpredictable economy, there’s likely clients coping with cold sweats. Like underdog, their advisors can come to the rescue. 

In cases like these, of course, communication can be all that and more and go a long way toward engaging and holding onto clients, according to forbes.com.

Further, advisors rated their own performance 15% to 36% higher than their client did in all categories, according to a 2021 study, reported RIA Intel. Categories included how well they kept clients informed about investment performance in down markets.

Meantime, keep in your back pocket that stepping up your level of communication can abet advisors as they strive to fortify and maintain relationships with clients, not to mention generate greater rapport in the industry, the site continued. 

Also key to keeping customers in the loop and doubling down on their degree of confidence: communications. It can go a long way toward engaging and hanging onto them. More than one in four clients report their advisor touches base with then “very frequently,” according to a 2019 YCharts report. And more frequent contact would hit paydirt, spawning greater confidence in the financial plan. 

Keep in mind that there’s a 20% market correction approximately every seven years, on top of a major “crash” around every decade, according to meanswealth.com.