Winning Opportunities in a Market Downturn with Dan Nolan
Your clients are worried about their finances.
Turn on the news. Look at social media. When it comes to the financial news, so much of what you see is doom and gloom. So many people are concerned about their livelihood and their future.
In this episode of Turning the Page podcast, Chris talks to Wealth Advisor, Dan Nolan about
getting to the root of a client's fears and helping them manage through volatile markets.
They discuss the types of conversations an Advisor should be having with clients and how, if done right, an Advisor can lock in client relationships for life.
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Available on Spotify and Apple Podcasts.
Building Trust with Tough Conversations
In a bull market, everyone is an investment expert. It is when markets are down that your clients need you to step up, more than ever, as a financial advisor.
Guiding and reassuring your clients through a downturn is when you show your worth. Demonstrating the value of your advice and preparing them for the next upswing builds trust, enhances your relationship and sets up your business for the future.
Navigating market downturns requires challenging client conversations. So how do you handle these tough conversations, and how do you help your clients through potentially difficult times?
In this episode of Turning the Page, Chris has a candid conversation with someone who has been through downturn markets before: Dan Nolan.
Dan has been a professional financial advisor in Ottawa since 1992 and helped his clients through tough market cycles more than once. He’s here to share his experience and show you how you can use this opportunity to build real trust with your clients.
“This is a tremendous opportunity. When markets are going well, it’s an easy business. When markets are down, this is when we need to step up as financial advisors…show our worth, build trust, and set our businesses up for the future.” - Dan Nolan
Dan holds the certified financial planners designation, the certified investment managers designation and is a fellow of the Canadian Securities Institute.
In his free time, Dan enjoys golf, playing hockey and spending time with his wife and three children. Dan is also kept busy by attending numerous charity events throughout the year and volunteering as a head coach for his son’s minor hockey team.
Connecting with Clients in a Bear Market
In this episode, Chris and Dan discuss:
- Why your clients are worried right now and how financial markets can take a toll on their financial and emotional well-being. It’s not the overall markets they’re worried about. It’s their own situation. How can financial advisors help their clients understand this relationship and not fear the downturns?
- Why it’s important to always refer to a client’s financial plan and remind them of their ultimate goal.
- How to handle objections from clients such as “But it’s different this time…”
- How you can turn this moment into a real opportunity to build relationships and to set up your business for the long term.
- The type of conversations you should be having with clients to help them find the opportunities around them, no matter what type of market we’re in.
- The importance of building a personal relationship with your clients.
- Advice Dan has received over the years that he would pass onto younger advisors.
- How the more value you create for others, the more value you create for your business.
- Dan’s most memorable client and why. Spoiler alert: it wasn’t about the money.
You can learn more about Dan and his team at https://investmentplanningcounsel.ca/deep-river
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