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If you can safely preserve money, people will trust you to grow it.

Tucker’s Advisors Services Analyst Chris Wharton and Lloyd Domingos, Senior Director of Operations for Tucker’s asset management division, both emphasize the need for effective, safe money vehicles to offer clients. If you cannot instill the confidence of preserving their principal amounts, clients and potential clients will be less likely to consider the growth strategies you offer.

This presentation was given at the Tucker Super Conference XVI in January of 2021 and is only for financial professional use. Insurance-only agents are not licensed to offer investment advice.

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Video Synopsis: Are You Leaving Money on the Table?

You will never be wasting time by trying to get to know your client better. After all, they are entrusting you with their savings and assets, why would you not want to know everything about how they see the world, both financially and in terms of their life goals? At the very least, you must know their retirement date, assets, income needs, and all income sources, such as pensions and Social Security. With this information, you can begin to offer solutions, not just products.

Your end goal should be to provide a secure and consistent stream of income that your clients cannot outlive. Employ the tactical strategies available to you to protect all of their remaining assets. This should be a basic fulfillment of your obligation as a fiduciary.​

If this generalized approach seems too conservative, remember that market losses are difficult to make whole in a timely fashion. Sometimes, it can take many years to recover lost amounts in a portfolio.

Get to know your clients and assess their risk tolerance. Very few clients will reject plans that protect their principal amounts against loss while providing steady growth with an up market.

“I like seeing our clients enjoy the tremendous upside of the market, while still having downside protection, or a floor, which protects their principal,” said Domingos.