Election season is upon us, and as candidates from both major parties—Kamala Harris and Tim Walz on the Democratic side, and Donald Trump and JD Vance on the Republican side—take center stage, advisors may increasingly find themselves in uncomfortable conversations. Politics can easily seep into discussions, potentially affecting client relationships. Here’s how financial advisors can maintain professionalism and focus on their clients’ financial goals, irrespective of political differences.

Establish a Neutral Professional Environment

The first step in keeping politics out of financial advising is setting a professional tone from the outset. Advisors should clarify that their primary role is to assist clients in achieving their financial objectives, not to discuss political views. Whether a client brings up concerns about Kamala Harris’ economic policies or expresses worry about the economic impact of Donald Trump’s return to office, setting this boundary early on helps ensure that conversations remain focused on finances and not on the volatile realm of politics.

Deploy Tactics & Techniques to Defuse Tension

Despite best efforts, political topics may still arise, especially as the election approaches and media coverage heightens around figures like Harris, Walz, Trump, and Vance. Here are some techniques to gracefully steer conversations back to financial matters:

• Acknowledge but Redirect: Recognize the client’s feelings (“I can see you feel strongly about the economic policies of [Candidate]”) and gently steer the conversation back (“Let’s focus on how we can align your investment strategy with your financial goals, regardless of the election outcome”).

• Use Neutral Language: Avoid using charged or politically biased language. For instance, instead of discussing specific policy points from the Harris-Walz platform or critiques of Trump and Vance’s economic stance, focus on broader economic trends. Opt for neutral, inclusive terms that do not hint at any political leanings.

• Set Gentle Boundaries: If a client persists in discussing politics, kindly remind them of the focus of your relationship. For example, say, “I find that keeping our discussions focused on your financial plans helps us make the best decisions. We’ve built your portfolio to weather changes, whether it’s under a Harris-Walz administration or Trump-Vance leadership.”

Be an Active Listener Without Necessarily Agreeing

Active listening is crucial in maintaining effective communication with clients. Here’s how advisors can practice active listening while not necessarily agreeing with the client’s political opinions:

• Reflect and Clarify: Summarize what the client has said to ensure understanding. For example, “It sounds like you’re concerned about how the election, whether it’s Harris, Trump, or another candidate, could impact your investments. Let’s talk about how we’ve structured your portfolio to be resilient.”

• Empathize: Show empathy towards the client’s emotions without endorsing their views. For instance, “I understand how passionate you are about this election. It’s important to channel that energy into proactive financial planning, ensuring your goals are met no matter who wins.”

• Maintain Neutrality: Keep personal opinions private. A financial advisor’s role is to advise on finances, not to debate politics. Whether discussing Harris’ stance on taxes or the economic outlook under Trump, focus on how the client’s portfolio is positioned to navigate various political climates.

BONUS: Role-Playing Example of a Non-Political Conversation

Client: “I’m really worried about the upcoming election and how it might affect my investments. I think if [Candidate] wins, it could spell disaster for the markets.”

Advisor: “I understand your concerns; it’s a tense time for many. Let’s review your investment strategy to ensure it’s robust and diversified enough to withstand various political outcomes. Our goal is to keep your portfolio resilient no matter who is in office, whether it’s Harris, Trump, or anyone else. Would you like to go over the risk management strategies we have in place?”

This approach acknowledges the client’s concern without engaging in political discussion and redirects the focus to financial planning.

Tip for Advisors: To better prepare for these conversations, financial advisors can leverage AI tools like ChatGPT to conduct role-playing exercises. By simulating various client scenarios and practicing responses in advance, advisors can refine their communication techniques, making them more effective in redirecting conversations and maintaining a neutral, professional tone.

Forever Focused

For financial advisors, the key to navigating through the election season is to maintain professionalism, focus on clients’ financial goals, and establish a neutral ground where open and non-political discussions can flourish. Whether clients express concern over a Harris-Walz administration or the possibility of a Trump-Vance presidency, by implementing these strategies, advisors can enhance their effectiveness and continue to provide value, no matter the political climate.

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