Volatile Markets Can Have an Upside for Financial Advisors


There’s one silver lining for financial advisors in the cloud of turbulent markets: prospecting for new clients just got easier.

Those advisors who haven’t made the extra effort to call anxious clients will lose some of those accounts. In tough times, more investors are open to a relationship with another advisor. That can cut both ways, of course. But for advisors who service their own clients properly, tempestuous markets can even be a net positive.

When I started in the business in the mid 1980s, I placed newer, up-and-coming advisors with Lehman brothers. Their broker cold-calling boardroom was the hottest game in town for big producers. Aspiring rookie advisors who wanted to join Lehman were asked one basic question:  What was the first thing that they did when their client’s portfolios went down? The correct answer to the question: They called their clients.

The message is clear. Difficulties must always be addressed immediately and head on. That lesson that I learned as a young recruiter, has stayed with me all these years and has stood me in good stead.


Photo: Bruce Turner

About Mark Elzweig

I am an executive search recruiter with an inside track on financial advisors, the asset management industry, and Wall Street. My work has appeared in numerous publications including On Wall Street,AdvisorOne, and Fund Fire. Journalists regularly seek me out, so you catch my bon mots in The Wall Street Journal, Research Magazine, Reuters, and more. You can follow me on Twitter @elzweig or you can reach me directly at 212-685-7070 or elzweig@elzweig.com.
This entry was posted in financial advisors, Recruitment, Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s