How financial advisers can help clients in 2024

Domestic and global uncertainty continues to affect share markets and the economy, with ongoing conflicts in Ukraine and the Middle East, while a 2024 US election looms on the horizon.

There is also plenty happening locally, with inflation, interest rates, rental crisis, cost of living and natural disasters all contributing to domestic market volatility.

Whether it’s through bespoke investment advice or structural tax strategies, your understanding of your clients’ needs can provide them with financial confidence during these times of uncertainty.

To convey the value of your advice to existing and potential clients, here’s some things to keep in mind:

 Long-term goals can ease short-term pain

Reminding clients that investing is a long-term plan can help alleviate fears about current returns which can be up and down from month to month, and dispel concerns about current performance.

It's important they see super as a long-term investment, and feel confident if they’re with a super fund that provides a diversified, quality portfolio focusing on strong long-term returns.

 Share, reassure and support

People want your expertise to help them stay on track and reach their financial goals. Now is an ideal time to connect with existing clients and reach out to new ones.

Check your database to see who needs a second call and ask how you can assist or add value as they work through their financial plans. An email as simple as ‘I’m here to help, let’s chat’ could create a dozen or more leads.

 Leading the way

Personalised financial advice can offer clients a greater retirement lifestyle, better cash flow and confidence their retirement income will last the distance.

As an adviser, you can help clients avoid behavioural mistakes, such as knee jerk market reactions, chasing profits based on short-term market volatility, or trying to replicate past performance in a changing environment.

The value you can provide during these uncertain times ranges from the macro (being a trusted source of wider market information and broad strokes trends and updates) to the micro (providing strategic, bespoke advice suited to the individual).

Both roles are extremely valuable, and as we look forward to more stability in the future, so you can continue to demonstrate your value in ensuring clients reach their financial goals.

Aware Super offers a broad range of expert services to help grow your advice business. Here’s how Aware Super can help your business with our dedicated Adviser Portal.