Trump wins… now what? Women advisors on calming clients and steering strategy

Donald Trump has made a stunning return to the White House, sending waves through the financial world, but don’t expect women advisors to flinch. At the 2024 Women Advisors Summit, powerhouse panelists Oscarlyn Elder, Christine Sol, and Kevin Gordon unpacked the emotional rollercoaster their clients are feeling post-election, on the panel “Navigating the Post-Election Investment.” Their message to financial advisors — especially women? Keep a cool head, know your data, and stay steady.

The discussion centered on strategy rather than personality, and at Tribeca 360 in New York City this morning, the tone was one of grounded pragmatism.

“We know clients have emotions, and we know that Trump is an emotional person,” Elder said. At her firm Truist Wealth, she had been preparing her team to support clients who may feel uneasy about market volatility and shifting policies. “We remind them that elections matter, but other factors matter so much more.” Her strategy emphasizes consistent, timely communication, keeping clients informed but never reactionary. And that calm, she insists, is what financial advisors bring to the table, especially in tumultuous times.

But it’s not just about calming clients — it’s about grounding them. Sol, from Signature Estate & Investment Advisors, noted the critical role of “meeting clients where they are.” For some, Trump’s win triggered fears of economic fallout; for others, it prompted enthusiasm. Either way, these emotions can easily derail disciplined investment plans. Sol’s team embraces a client-first approach, which includes doing everything from exploring second passports to investigating gold investments. “Some of it is a wild goose chase,” she chuckled, “but we do the research because it reassures our clients, and that keeps them steady on their investment path.”

Gordon also acknowledged the unique position of women advisors in today’s climate, explaining how advisors must be “more essential now, more than ever before.” The market’s response to Trump’s policies, especially tariffs and inflation concerns, will likely stir volatility. But he emphasized that women in the industry — often praised for their communication and empathy skills — are poised to handle the emotional side of finance like no one else can.

What does Trump’s win mean for advisors?

Gordon said that his firm’s election-related research has been geared toward educating clients on historical data rather than promoting reactionary changes. “Our election handbook this year breaks down historical data on market performance under various administrations.” Gordon shared a key insight that investing consistently, regardless of the political party in power, has historically outperformed partisan-based investing strategies: “If you kept $10,000 invested in the S&P 500 since 1948 without regard for the political administration, that investment would have grown to about $38 million by the end of 2023.” His takeaway? Stay the course. “The power of staying in the market, regardless of who's in office, is a timeless lesson,” he said.

Elder recalled the strong emotions clients expressed following Trump’s 2016 win, some reaching out in the middle of the night, worried about their portfolios. “We may not see that same level of reaction now,” she said, “but this is where advisors must lean on the trust they’ve built with clients. Listening and giving space for clients to express themselves is vital.”

Revisiting lessons from Trump’s first term

Reflecting on Trump’s previous term, Gordon recalled the lessons learned from the trade war with China. “Trump’s previous tariff policies and rhetoric often drove short-term market volatility,” he said. “In fact, during his first term, we tracked that his tweets about the trade war caused twice the market movement on those days compared to other days.” While it’s uncertain if Trump’s social media influence will remain as strong, Gordon warned that a repeat of this volatility might be on the horizon, particularly with Trump’s proposed tariffs being more aggressive this time.

The panel concluded with a reminder of the essential role advisors play in times of political and economic uncertainty. “Your communication cadence is your strength,” Elder said. “Whether Trump’s communication style has changed or not, advisors should consistently provide clients with a stable perspective, blocking out noise, and keeping the focus on long-term goals.”

As advisors look ahead, they’re tasked with guiding clients through the challenges and opportunities that Trump’s presidency might present. Sol summed up the advisor’s role in this context: “Amidst all the news and noise, our job is to filter out what truly matters to clients’ portfolios and keep them connected to their goals.”