I have found that the investors with the best results and better relationship with their brokers are the ones that communicate well. Communication in life is what makes people understand each other, right? We hear sayings such as “the squeaky wheel gets the grease” but what does this mean when it comes to investing? It means that clients and traders have to communicate now more than ever before.
In today’s business climate, what once took weeks and months to play out is now taking days if not hours. A savvy trader has to keep his ear to the street, and that sometimes means you may not have time to reach out to each client about their individual concern. You may be busy doing what you feel is in their best interest or meeting there previously stated concerns. Does this mean that their concerns are not important? No, it means that if you know they have questions and and concerns then you can get answers to your clients in a fast and effective way. You and your clients will fare much better. The market will take less of a toll on both your clients and you.
Remember to ask yourself if it better to wait without knowing how long you have to be in line, or is it better to know your expected time of arrival. This question may not seem relevant until you are in a plane traveling thousands of feet in the air and you just hit turbulence. That is what your clients are experiencing right now! Let them know when the ride will be over!
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