By Grant Hicks via Iris.xyz

If you were around in 2008-2010 as a financial advisor and a client, remember what the conversations were like and how long they took with people worried about their future. Because we have not seen a major correction since then, financial advisors forget how much time it took to have discussions, rebalance portfolios if necessary and manage future risks.

Even worse, financial advisors are running past capacity now and are having trouble keeping up with their current clients, let alone discussion a market correction with clients and how to reposition their future. Imagine if the market correction happened tomorrow.

How many of your clients would like to hear from you, good or bad? Is it 100-200 or more clients who may be expecting to hear from you?

What is your communication plan?

Do you have a letter, email or template that you can get through compliance to pass out quickly to your clients that are expecting communication? What do you want to communicate? Like most major corrections, it is not what you communicate,( although we can put a large debate in here) but how timely you communicate.

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