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When volatility spikes, the ideal response is to call or, at best, meet in-person with your clients. But the advisors with whom I work have found that webinars are a far more cost-effective tool to allay clients’ fears about unsteady markets.

Here’s a recent conversation with an advisor that illustrated the power of webinars:

Me: How many clients have contacted you about the recent market volatility?

Advisor: Only a few.

Me: What are you doing to communicate with clients and prospects in these unsettling times?

Advisor: Sending a few extra newsletters.

Me: Do they reveal your personal point of view about what’s happening in the markets?

Advisor: Nope.

Me: I’ve seen data that says roughly a third of advisory clients who feel ignored during market turmoil consider switching advisors.

Isn’t this an opportunity for you make sure clients are assuaged and to get your message out to your prospects?

Advisor: Hmmmm . . .

Me: Have you thought of doing webinars?