Financial Clients Leaving Brokers Who Didn't Buy Then Back Into the Market at the Bottom

During times of economic crisis and chaos, many clients of financial planners and stockbrokers will choose to leave and find a new broker. In fact, one recent survey in Financial Planner Magazine showed that 85% of the clients were considering getting a new broker right now.

That's pretty scary, and I don't know of many businesses that could survive with an 85% turnover rate, especially professional services in the same year. Incidentally, many financial planners and stockbrokers are leaving the business or have already left. And it doesn't take a rocket scientist to see why.

Now, many of the fairly astute financial planners and stockbrokers were able to get their clients out of the market before things really got too rocky. And their clients were very thankful for not losing 45% of their life savings when the stock market completely collapsed into chaos.

Nevertheless, most of those stockbrokers and financial professionals were not able to get their clients back into the market at the bottom. Most clients were too sketchy, and afraid to get back into the market when they should have. Now it may be too late for them, because they missed the big run-up.

These clients now blame their broker for not "making" them get back into the market, of course the reality is that the clients were risk adverse and would have prevented their broker from getting back into the market anyway. So it is interesting that the stockbroker or financial planning consultant appears to have gotten caught in a Catch-22.

So, not only are people leaving their brokers because they didn't get them out of the market before the collapse, or because they lost a good chunk of their financial wherewithal, but clients are also leaving those brokers who didn't give him back into the bottom. So, everyone in the industry is finding themselves being dropped by some of their best clientele. I hope you will please consider this.

Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank. Lance Winslow believes that if you need financial online content, go to http://www.bloggingcontent.net

Note: All of Lance Winslow's articles are written by him, not by Automated Software, any Computer Program, or Artificially Intelligent Software. None of his articles are outsourced, PLR Content or written by ghost writers. Lance Winslow believes those who use these strategies lack integrity and mislead the reader. Indeed, those who use such cheating tools, crutches, and tricks of the trade may even be breaking the law by misleading the consumer and misrepresenting themselves in online marketing, which he finds completely unacceptable.

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