The Great Recession. Brexit. A tumultuous presidential election year. There are always reasons for clients to be concerned about investing. As this piece was written, the spread of the coronavirus (COVID-19) is impacting not just lives but also the financial markets. While much is unknown at this moment, there is one thing we can be fairly sure of: it’s not the last crisis we’ll ever face.
In times of crisis, successful advisors speak to their clients more frequently—to reassure them, to help them keep a long-term perspective, and to help dissuade them from making any regrettable investment decisions. But as the adage goes, “It’s not just what you say—it’s how you say it.” You may have truly great insights that provide clients perspective and encourage patience, but here’s the challenge: If you aren’t able to deliver that information with confidence, clients might not be convinced enough to heed your recommendations.
What we’ll cover:
- It’s not just what you say—it’s how you say it
- Tips for communicating with confidence
- Knowing what to say
First, It’s Not just What You Say—It’s How You Say It
Perhaps you’ve heard the rule of thumb that “93% of all communication is nonverbal.” While that’s an oversimplification of the research from which the statistic’s derived, it’s still useful to understand the basic premise in a crisis situation.1 Here’s the gist: Sometimes when we communicate with another person, we send mixed messages. For example, imagine that you’re mad about something. If someone were to ask what’s wrong and you said, “nothing,” but you did so with an angry tone, crossed arms, and clenched teeth, you’d be sending a mixed message.
