Ensuring your platform is bear market ready

As a recruiter for almost three decades, I’ve lived through many market cycles.  One day you wake up and suddenly the worldview of both advisors and their clients has changed.  I’ve always admired those advisors who were able to plan for the inevitable bear market during the good times. These advisors made  sure that they were well positioned at the right firm while markets were still hot. The  most successful moves that I’ve helped quarterback took place in bull markets when clients were making money.

Here’s what I think that advisors need to do now.

Turning points are difficult to identify. As advisors seeking to safely guide clients to their investment goals, they are struggling with that uncertainty.

However, advisors should not look at this challenge as solely a client matter. Advisors must also focus on their own career goals in order to help investors achieve their larger objectives. So, if clients ask about how to prepare for the next move in the market cycle, advisors should do the same. Ultimately, advisors must decide whether their current firm can meet their clients’ changing needs in a bear market.

Downturn Concerns Should Spark Career Review