This time , it’s the other ugly “R” word, Recession, and baby we’ve got it. Whether the specific economic definitions are present doesn’t really matter. Investors feel lousy. Combine a bi-polar market with the domestic political turmoil of an election year, and then overlay a difficult war in the Middle East, and you have the ingredients of massive discontent. Even my Pats going undefeated can only partly allay these negative emotions.

So what do you do in a brutal psychological environment like this? Beyond mere survival, how can you actually thrive on chaos? The secret lies within the word itself.

C = Communicate

The best advisors use tough times like these to reach out proactively to their top people. They don’t hide under the desk or avoid difficult situations. Now is the time for extra communication and enhanced visibility.

My simple rule is contact everyone in your book. You’re “A” clients get a face-to-face meeting. Your “B” clients get a phone call (a scheduled phone appointment would be better.) And your “C” clients should get a letter. You shouldn’t really have any C clients, but that’s another story.

Do it now. Start immediately. You want to have this done within the next six weeks. This might coincide with your normal quarterly or start-of-year meetings anyway, so it may not be too much of a stretch for you and your team but regardless. It must be done.

What do I say at these meetings?

There are two main messages. First: “Our financial plan is intact!”

Assuming you’ve done some kind of plan for the client and are not just pitching products, this message is vital to your long-term success. Market and economic activity, no matter how disturbing and bizarre, cannot be allowed to shake the foundations of a good financial plan. You can’t call the plan into question every time the ground shakes. It’s going to shake probably another 20 times during the tenure of your relationship with that client. And if every spike in volatility causes you to reassess or re-evaluate the plan, then you’ve undermined the entire process of planning in the first place!

The only thing that gets to change the plan is the goals of the client. If those change, then the plan must change. I’m not saying you don’t make some portfolio course corrections. Major shifts in market climate may indeed call for some asset rebalancing. But that’s normal, and it’s absolutely NOT a change in plan. In fact, it’s totally part of the plan. You have been expecting this and you’ve prepared for it. As a professional, market volatility and economic uncertainty cannot catch you by surprise. Or why does the client need you?

The second message is more emotional. It basically says, “We are on guard!”

I want my clients to understand that my team and I are standing on the bridge of this ship, wide awake and watching the seas every minute. They can sleep soundly. It’s my job to lose sleep when necessary. Frankly, we’re not that concerned at the moment. This is nothing we haven’t seen a dozen times already, but we are professionals and this is why you hired us. I hope you understand the power of this kind of subliminal messaging.

Isn’t this overkill?
You may think it’s not necessary to do this. In fact, you might believe it would make things worse by calling a special client meeting and talking about market volatility. All I can say is I hope that my competition feels that way too because I’m going to put your lights out! In tough times like these, I am going to radically differentiate myself from the typical financial professional. And ultimately the best advisors will take this rare and valuable moment to gather tremendous market share.

Long-term success and your ultimate value as a trusted advisor for your people are not measured by how you behave during good times but in bad times. This is a thrilling opportunity to shine!