As the COVID-19 pandemic and economic turmoil continues to rage across the country, it is essential for financial advisors to clearly and frequently communicate with their clients. To learn more about communication with clients during this critical time, Financial Advisor Magazine recently spoke with Wealth Matters Consulting President and Chief Brand Strategist Rosemary Denney.

According to Denney, every client should receive relevant information for their personal situation – and the best way to do this? An old-fashion phone call.

“Advisors should talk to clients once a week, even more if they have new information to tell them,” explained Denney. “You do not want to bombard the clients, but as their advisor you should be telling them what is meaningful for their particular portfolio. In the midst of a volatile environment, advisors should make clients feel secure and confident.”

Denney added that with these phone calls, it is also crucial for advisors to not just repeat information from TV and to plan what you want to say before you dial.

“Most people have known a downturn was coming at some point for some time already,” Denney said. “[Advisors] can now reassure clients that their portfolios are built to withstand a downturn. A phone call is a good way to do that because you can emote and you can respond to questions, which is not possible with other types of communication.”

Despite telephone calls acting as one of the most effective ways to practice crisis communication with clients, Denney explained that advisors should also be using all other available communication methods throughout this unprecedented time.

Click here to read the entire Financial Advisor Magazine article. You can also click here for more crisis communication advice from Wealth Matters Consulting.