There were times in my life when I needed help and just didn’t get it. One of my favorite quotes based on those kinds of experiences is: “I needed your help, you weren’t there, and I no longer need your help.”
With falling stock markets, this might be the time to pounce as a financial advisor. I’m sure there are plenty of financial advisors that are incommunicado with their plan sponsors. When you have returns that are -20% or more, you have anxious plan sponsors and plan participants who might be freaking out if they check their balance every day.
So with advisors missing in action, this may be the opportunity to be there and contact 401(k)plan sponsors and be that reassuring voice that the incumbent financial advisor should be.
