CheckMate

We aviators have a way of dealing with emergencies in the air. We prioritize by remembering the following mental checklist and course of action: Aviate, Navigate, and Communicate. In that order.

I wasn’t there, but I can imagine the thought process of Captain “Sully” Sullenberger on US Air Flight 1549 went something like this:

1. bird strike, one engine out… Crud! Fly the airplane.. engine number two out.. more Crud! Fly the airplane.. keep wings level… AVIATE… check!

3. call the controllers and let them know what I’m doing. Alert the crew and passengers.. COMMUNICATE.. check! Now fly the airplane and land.

Which, as we know, he successfully accomplished.

Being a Financial Advisor in today’s turbulent times also requires a similar check list. The last course of action you want to take right now is one of panic and confusion. You’ll lose your passengers (clients) faster than Captain Scully can say, “check!” Instead, follow what he did.

1. FLY the airplane. Remain calm in your approach to financial management of your clients and don’t make any abrupt moves that would cause your aircraft to lose control.

2. NAVIGATE your career and the safety of your client’s portfolios. Now is a good time to re-evaluate your landing spot. Will you remain where you are right now or should you consider other “landing” options? Where do you want to take your passengers for a safe landing? If your current company is not a safe place for them, start considering other options.

3. COMMUNICATE your intentions to your clients. Whether you decide to stay where you are presently, or if you are considering other options, tell your clients now so that they are comfortable knowing that you are in control. I remember reading that one of the passengers from flight 1549 said that when he heard the Captain announce that they were going down and to prepare for a hard landing, he knew he was going to be alright because his captain sounded very confident and reassuring.

Be that Captain to your clients. They need you now more than ever…

Another case of a company bucking the trend and the conventional wisdom:

Subaru posts 2008 sales increase in US

CHERRY HILL, N.J. – Subaru said Monday its U.S. sales crept higher in 2008 on strong demand for Forester and Impreza models. The Japanese company is the only major automaker so far to post an increase in yearly sales.

Subaru’s December sales fell 7.7 percent to 17,287 units from 18,739 in December 2007, as a big increase in Forester sales failed to overcome declines in its remaining models.

But Subaru sales for all of 2008 rose by 0.3 percent to 187,699 vehicles from 187,208 in 2007, as consumers snapped up its top-selling Forester and Impreza models. The company is likely to be the sole large automaker to report higher sales for 2008, as the troubled economy pummeled new car sales across the industry.

Yeah, you read that right - Subaru actually sold more cars in 2008 than in 2007. (More here: “Subaru posts 2008 sales increase in US”)

Now contrast that with this little graphic from Edmunds today:

(More here: “2008 U.S. Auto Sales Are Worst Since 1992″)

Holy smokes - those are some dismal numbers.

We’ve talked about this before back in July (see “Who says the US automobile market is flat? Not VW.”) It’s just like I said back then - there are still companies - and financial advisors - succeeding even in these tough times.

So take heart in that, don’t buy into the gloom-and-doom, and realize that success as a financial advisor is still very much within your reach.