Adam from Foresight Wealth & Management is quoted as saying, When the market was falling apart in 2008 we had started to implement some of our tactical strategies in our client accounts. I had an aggressive investor who I was meeting with to review their account towards the end of the year. At the time, the market was down nearly 40% and I was there to report that we were down just over 10%. When I showed her the information, she jumped out of her seat and ran up and gave me a hug and a kiss. It was the first time I have ever been given a hug from someone who had lost 10% in an account (and I am assuming the last time). We found out how important the client relationship is and how, especially when markets are falling, how important it is to continue to educate, hand-hold, and help clients understand how markets work.
Prior to the crash, we started to implement tactical strategies that helped our clients avoid many of the losses that others experienced. That decision has helped our clients experience better outcomes as a result. We also enhanced our services offerings and diversified our business model so that we were not so concentrated in one particular area, either by investment choice or by the clientele we were working with.