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Financial Advisors Handholding Strategy

A Fire Drill to Prepare for the Next Crisis


The Case for Handholding

An article in Investopedia notes:

“Research studies show that investors’ portfolios typically perform worse than the overall market due to mental money mistakes. If the investor jumps out of the market at the first sign of a decline, then he or she is selling at the bottom. The flip side of this behavior is when an investor gets swept up in market euphoria and buys back in as stocks trend toward their highs. This counterproductive trading activity causes the investor to buy at the highs and sells at the lows. The advisor’s job is to make sure this doesn’t happen by being available for hand holding and education.

DALBAR, Inc.’s 20th Annual Quantitative Analysis of Investor Behavior 2014 Advisor Edition not only confirms this, but reveals the gap to be especially wide. Over the past 30 years, the S&P 500 returned 11.11% per year while individual investors have averaged only 3.69%. (Emphasis added.)

In a single paragraph, there’s the case for handholding.

But if you want more, consider this: handholding is a vital part of any client retention strategy.

If you google the phrase, “financial advisor handholding strategy,” you find lots of advice.

Not one bit of that advice tells you exactly what to do.

Mini-Handholding Message Library

Each handholding message listed below is formatted twice, once as a letter and once as an email. Both are in the same Microsoft Word document.

The merge fields are those used in the CRM program that comes with the Bill Good Marketing System®. You should replace these with merge fields from your own CRM.

The inside address in the letter version is intended to fit in the window of a #10 business window envelope. Do a test print or two to make sure our format fits your envelope.

Important Note: Based on the current crisis, you will need to tweak or even re-write any message you choose to send to fit the current situation.

A brief description of each message follows. All the message are in one MS Word Document.

A Brief Description of Handholding Messages

What You Pay Us For: Powerful message explaining what you do and (as an added benefit), suggesting they share your letter or email with a friend.

We’re Here To Serve: This is a cover letter/email. You need to find an article, perhaps from your firm, which reflects your views. On the first page of the document, we have added additional information on how to get copyright permission to use material not produced by your firm.

This Time Is Not Different: The four most dangerous words an investor can say is “This time is different.” Gives historical data back to 1974 to prove the point.

Hot Dog Stand: A motivational story about someone who makes wrong decisions when confronted with a recession. Intended to get people to breathe deeply.


Tough Times

Tough times seem to start with a bang. That’s when you swing into action with our Handholding Strategy. Your total focus is pour oil on troubled client waters. Probably the worst thing a financial advisor can do is stop promoting.

When you stop your client events, mailings, email broadcasts, seminars, direct mail, cold calling, or whatever else you are doing, you begin to slip from people’s minds.  Soon you disappear completely.

One key piece of the Bill Good Marketing System is prospecting. We are a computer-based, client marketing PROSPECTING and practice management system.

At the 50,000-foot level, we have a strategy.  We can help you develop referrals from clients and strategic partners.  We can help you “clone your best clients.”  We can help you with people you know that you would like to do business with but cannot solicit directly.

And yes, we can help you with mass marketing—seminars, direct mail, and cold calling.

We would love to show you what we can do. 



Put Fire Drill – Handholding Marketing Plan in your Emergency Plan folder. Download our Handholding Messages. and get out to your clients. If you need Copyright Permission to use our handholding messages, please download now.

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