Take a cue from the King of Camelot; stay cool under pressure. If Kennedy could manage the country under threat of nuclear war during the Cuban Missile Crisis, a financial advisor should be able to withstand a 10-point drop in the market without folding.
Advisors should surround themselves with capable and dependable staff members that enhance the overall relationship with clients, much like Jackie Kennedy enhanced her husband’s public appeal. In Gallup Poll's annual surveys, the First Lady ranked as the most admired women for five consecutive years starting in 1963.
The marketing gurus aren’t wrong—it’s important to stay in the spotlight. John F. Kennedy constantly stayed in the public eye, writing Profiles in Courage while recovering from successive spinal surgeries. And during his 1958 Senate re-election campaign, his staff produced The U.S. Senator John F. Kennedy Story, a day-in-the-life style film revealing the inner workings of Kennedy’s public and private life. While writing a Pulitzer Prize-winning book may be shooting a bit high for advisors, writing up a weekly newsletter, staying active on social media or hosting a radio or YouTube series can drastically increase visibility.
It’s been a tough year for emerging markets, but advisors shouldn’t give up yet. History shows Kennedy’s move to back Korea in 1961, sending helicopters, military advisors, and undeclared troops, wasn’t popular. But while it was a long struggle (which stretched into successive administrations) to keep communism out, Korea is now a promising emerging market. In fact, David Garff, President and CIO of Accuvest Global Advisors says his firm ranks Korea is one of the top countries to invest right now, noting its strong fundamentals and high valuations.
Like many advisors, Kennedy served in the military before his political career, specifically in the U.S. Navy. Kennedy also founded the Peace Corps in 1961, a volunteer organization focused on helping underdeveloped nations. But advisors don’t have to join the military or travel abroad to give back—there are so many opportunities for advisors to help right in their own communities. Check out our 2013 “Advisors with Heart” winners for some inspiration.
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