Name: Instilling Hope and Helping Clients Prepare for Worst-Case Scenarios
Uploaded: 2025-03-04T16:29:00Z
Duration: 4 min 12 s
Description: When a client falls on hard times, advisors should share their own stories about when their “back was against the wall” and ultimately succeeded, says Jill Williams, an Ameriprise private wealth advisor and CEO of Nexus Wealth Management.

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When a client falls on hard times, advisors should share their own stories about when their “back was against the wall” and ultimately succeeded, says Jill Williams, an Ameriprise private wealth advisor and CEO of Nexus Wealth Management.

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Instilling Hope and Helping Clients Prepare for Worst-Case Scenarios

Sometimes I will get referred to a prospective client who is in this situation and has just found themselves at a certain age, all of a sudden out of, you know, a really high paying job. And they've always had stability like you described, and all of a sudden they don't. So that, you know, that just requires immediate attention to cashflow, someone's burn rate. What is their spend, what is required to live their life? And you start there, you just roll up your sleeves. And I will say back to the psychology, it's so important for me to instill a sense of hope and optimism because it's hard enough to overcome the things that you can't control. So the things that you can control, let's just be positive. Let's be, you know, proactive in how we're addressing them. What can you change today to make it work without digging a hole with debt, et cetera? So, you know, how can you monetize what you have? How can you better leverage benefits that are available to you? There are so many things that are unique to each person, but it's really just making sure that they understand there is a way out and you're going to help them find it. And that's something that I love more than anything about what I do. It's one thing to have a plan perfectly in place and it's coasting along. It's another thing to really be able to have an impact in someone's life and around the things that matter most to them, which is financial security, their family, whether it's providing, whether it's being a good partner, whether it's holding up their end, whether it's, they've identified with the job that they have, so many people are tied to their work as their identity. So you have to always be having that conversation. What would you do if you couldn't dance?

Yeah, you mentioned before the importance of providing hope, and I'm curious about that because it goes without saying that someone in this situation will be sorely lacking hope or perhaps would be, right? What have you found is an effective way to instill genuine hope where it's palpable and you actually see something's clicking, there's a little glint in their eye or whatever it might be? What are some things that you found have proven, perhaps effective?

Well, I think personally sharing my story makes a big difference because my back has been against the wall and I have been in their shoes.

Yeah.

And so I think that if people can see in someone else something that can give them a sense of hope, then that's really important. So I think as an advisor, just finding in your own story, what were those times in your life? We all have them. What were those times in your life that your back was against the wall? That, you know, all of the odds pointed against you achieving something that you went on to achieve? And then just reminding them that, you know, you are going to help them find what it is that they need to find themselves back on track. And it may look different. I mean, you have to, so many people don't prepare for the uncertainties in life, but that is the one thing that is certain.

Yeah. Exactly.

Right? And so it's really just making sure you're always having these conversations and that you're preparing anyone that you have influence with, is making sure you're taking them through those worst case scenarios and preparing for them.

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