Communicating And Winning New Business In A Challenging Time

Communicating And Winning New Business In A Challenging Time
Bob Veres
10/17/08 4 PM EST Program Id: 857028309

Bob Veres and Spenser Segal provide advisors with ideas about communicating with clients through times of severe market turbulence.

Veres, editor of Inside Information, a practice management newsletter for advisors with 1,500 subscribers, spoke about the emotional angst many advisors are feeling as a result of the financial crisis. Regulatory agencies that have limitless resources and are responsible for monitoring financial markets failed to understand the risk of credit default swaps, underestimated the impact of the failure of Lehman Bros., misjudged the cost of bailing out AIG, and stood by passively as Wall Street brokerages leveraged their capital to unprecedented levels. “If those people, with greater access to information than any of us, were taken totally by surprise by the meltdown,” Veres said, “why should you expect more of yourself?” Veres reviewed letters written to clients by some of his subscribers, giving attendees concrete tips for crisis communication.

Segal, CEO of ActiFi Inc. speaks about "the four Rs" to guide crucial conversations with nervous clients. The “four Rs” concept has been espoused by Doug Lennick, managing partner of The Lennick Aberman Group and co-author of Moral Intelligence: Enhancing Business Performance And Leadership Success. By adopting a deliberate four-stage process of recognizing, reflecting, reframing, and then responding, advisors communicate more effectively with an emotional client.


More than 50 hours of CFP® CE credit and more than 100 hours of Investments & Wealth Institute® credit on replays available 24/7 to paying members ($120 annually) of CPAs are eligible to receive CPE for attending live webinars only. To learn how to receive continuing professional education credit viewing webinar replays, please see our detailed instructions.

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