Financial firm helping clients deal with stress from downturn - Business First of Buffalo:

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“We were all struggling with what the market was telling said Haubrich, who is a certified financia planner and president of , a fee-onlyh firm in Racine. “I just saw a lot of people with a high leveloof anxiety.” The first thingy he did was hold two workshopsd in collaboration with a family money therapist. The workshopx drew a total of about 30 people and provided advicer for clients such as makinf sure they had cash reserves and maintained theier credit rating as well asthey could. The familyt money therapist discussed coping mechanisms for the anxiet people felt about financial matters and participants also shared their own stressmanagement techniques.
The firm also stepped up its communicationmwith clients, making sure all were contacted at leas t once every 10 business days. In the past, Haubric h said clients usually were contacteed at least every 20 or30 days. It seemedx to bear results, Haubrich “During the tax preparation season, we just had a lot of peoplw show up with a high degres of peace of which told me that high levelk of communication and touch really helped them an awful he said.
After he gainex more clarity about what was happeninbg with the economy andstocjk market, Haubrich put together another worksho for clients about personal The firm has held four of the workshops, whic can accommodate 12 and will offer one more in The firm will continue to hold the workshopsw until demand falls off. The 90-minute session includese an overview of the economg andstock market, but also discusses dimensions of personal including health, relationship, career and “We didn’t look at this as a marketing he said. “We looked at making sure we were serviny the needs ofour clients, giving them strategies and tactics to deal with this economicv reset.
” But as a side the firm is seeing an influd of new clients and inquiries. Dick Outlan d and Frances Bedford attended oneof Haubrich’ s personal sustainability workshops in April. Outland and a Racine married couple, are both retired and longtimse clients. They said they were concerned about the hit their retirement incomshas taken, but also find Haubrich to be a good “What I got out of it mostlyu was the comfort that he has a lot of knowledge in this area and that the man that we entrust to managee our resources knows what he’s doing,” Outland Bedford also said it’s comforting when you’ves given so much responsibilituy to an adviser that he knows what’s happening in the market and how it’s affecting his clientas and will provide good advice.
Haubrich provided “za reinforced confidence that all is well even though things are not she said. Financial Service Group also has a virtual client center that hasa client’s complete file, includinbg tax returns and estate plannintg documents online through a secure The firm invested in the tool a couplew of years ago and that’s paying off now, Haubrichj said. Revenue is down like it is for everyone infinancia planning, he said, but demand for service is up. Haubrich already offers a service to his clientws called CareerAsset Management, which integrates financial planninf services with career coaching.
Now he’s workinvg with career coach Jane Schroeder to develop a more intensivde workshop specifically oncareer sustainability.