Being The Best Financial Advisor – This To Shall Pass

One of the most challenging days in the markets in decades with the challenges with American International Group ( AIG ), Bank of America/Merrill Lynch and Lehman Brothers sending shock waves around the world.

In talking with my financial advisor clients today and over the course of this year I continue to hear;

• I’ve seen this all before.

• We saw it coming.

• We will just have to ride it out just like 1973-74, 1981, 1992 and 2002.

• This too shall pass.

• It will separate the men from the boys.

• I like this kind of a market because it causes those that still know how to work to get off their butts.

• I’m investing my day in using the 10-3-1 system developed by Al Granum. Make ten calls, talk to three clients and have one positive conversation.

Information is out there to support these beliefs and strategies and I just received an e-broadcast from Advisor.ca featuring an Exclusive: Nick Murray’s advice for advisors.

Nick recommends a four activities and the first one is here. “To the opportunistic advisor, I recommend a program of four activities. First, go through your entire account book and prospect every client you have for new money (or just the acceleration of an accumulation program already in place) before the sale ends.”

To read the whole article click; Nick Murray’s advice for advisors.

It is all about doing the right stuff and quit the wrong stuff and be a demonstration by example that you are creating your own economy by your actions.

Remember that this too shall pass and it is just a matter of time, in the mean time, stay active and visible to your clients.

On my end, its 5:30pm on Tuesday evening and I am in the Nanaimo airport to catch a flight to Edmonton via Vancouver to speak to an audience of 90 financial advisors on behalf of Pro-Seminars in Edmonton

I’ll invest the day with a client call, meeting with a COI, proof reading my book and catching an evening flight home.

This to shall pass …

Worst Economic Disasters

 6th Worst Stock Market Crash – 1901 – 1903
 3rd Worst Stock Market Crash – 1906 – 1907
 9th Worst Stock Market Crash – 1916 – 1917
 5th Worst Stock Market Crash – 1919 – 1921
 4th Worst Stock Market Crash – 1929
 Worst Stock Market Crash – 1930 – 1932
 2nd Worst Stock Market Crash – 1937 – 1938
 8th Worst Stock Market Crash – 1939 – 1942
 7th Worst Stock Market Crash – 1973 – 1974
 Bunker Hunt – 1980
 US Savings & Loan Crisis – 1980
 Interest Rates 21% – 1981
 Black Monday – 1987
 Recession – 1992
 Barings Bank – 1995
 Bre-X – 1997
 Long Term Capital – 1998
 10th Worst Stock Market Crash – 2000 – 2002 ( 911 & Dot.Com Bust )
 Sub-Prime Mortgages – 2007
 Oil Predicted To Reach $200 Per Barrel – May 2008
 Oil Reaches $147.02 Per Barrel – July 11th
 Oil Per Barrel $106.23 – September 5th Traders targeting oil at below $100
 Canadian Tire Dollar At Par With US Dollar – 2008