9th June 2017

There is no such uncertainty as a sure thing

As I write, the outcome of the UK election is clear, with the certainty that no party has a majority on their own, plunging us into a period of potential political and economic upheaval. Mrs May has returned to Downing Street after seeing the Queen and will attempt to govern, to see the nation through the Brexit process and other challenges with the assistance of the DUP. And the interference no doubt of others.

Who would have thought this a few weeks ago, when all the talk was of landslides and renewed mandates. 

The election outcome reminds me of the wise words of the Scottish bard Rabbie Burns:

“There is no such uncertainty as a sure thing”

However, uncertainty brings many things but chiefly amongst those are confusion and apprehension for your clients providing an opportunity for you as their financial adviser.

The next few weeks and months will highlight the need for informed and insightful professional advice as people seek to safeguard their assets in what will potentially be a period of financial and political instability.

It is not the time for anyone committed to the advice profession to hide from their clients in their own confusion.

Experience, empathy and expertise are at the core of the DNA of the advice professional and it’s imperative to use these for the benefit of clients. Many of whom who will be seeking and in greater need of reassurance and information.  Your existing clients pay for you not for the products they have purchased but for the professionalism you provide and the worries you remove and alleviate.

In a service profession such as ours, people pay for what they value and remain in a relationship when they receive this. I’d urge you all to grasp this period of uncertainty as the opportunity it is. 

The clever business will now be answering a number of questions: 

• What are the key issues that this period of uncertainty will bring?
• To whom will these problems be most troublesome?
• Who will have the most to lose by not dealing with these issues?
• How can your proposition help?
• Why are you uniquely placed to solve the problems you have identified for your target segments?
• What makes you different from other sources of advice?

Once you have that it’s a matter of deciding:

• What messages will clients respond to?
• How can you communicate your proposition effectively?
• What media such as website, email, social media or face to face will they best respond to?
• And then how can you do all this at a profit?

Now you may decide you don’t want to be this information source for clients, but be warned you may have to deal with the fall out when some else does.  

John Joe McGinley Glassagh Consulting June 2017

John Joe McGinley, Glassagh Consulting