She had seen the photos and television coverage of the devastation and was moved by the faces of the families and children facing so much hardship and uncertainty. We decided that what we could do first is to encourage donations to reputable organizations, such as the Red Cross.
The adviser community is ahead of us: I've already heard from many advisers who are reaching out to their clients and prospects to encourage involvement. From a practice management perspective, the way advisers react to this crisis and demonstrate leadership will have a profound effect on their relationships with clients.
This is the time to take action and show clients that your practice and team can make a difference. I have heard from a range of advisers about the many ways they are working with clients and client families to help the people of Haiti. Since many clients — and their advisers, for that matter — want to help but aren't sure how, here are some tips:
Start an e-mail or Twitter campaign. Select one or two reputable aid organizations and include a link to their website in your communication. Making it is easy for clients and prospects to donate directly to the cause places you in the role of the conduit, not the collector, which is easier and more efficient than collecting and disbursing funds yourself. If 2,000 advisers each had 200 clients donate just $20, the adviser community collectively would raise $8 million.
Consider teaming with a charitable event taking place over the next few weeks and offer your support through a Haiti fundraising event. One California adviser just added a fundraiser to the client investment seminars he is holding next week. There is no better way to show clients you care than to reach out and make it easy for clients to give to the cause.
It's On. That's Southwest Airline's slogan and it says it all. Consider forming a team to reach out to the community for food and essential needs. Consider working with your clients' CPAs, attorneys and doctors to form a group and have a food drive. These can be held at local churches or libraries and are a great way to bring your clients' families together to help out. In a time of crisis, many people want to help. Jump-start the effort.
One group of Chicago-area advisers is working on a long-term aid plan, but in the meantime many in the group have flown to Galveston, Texas, to take part in a rescue effort based there.
Next week: Back to basics and positioning your practice's value as more than just investments.
Maureen Wilke, who has spent more than 20 years in marketing and wealth management with firms including Nuveen Investments and Sequoia System International, can be reached at [email protected]. Her INPractice column appears every Monday on investmentnews.com.
