While a recessionary market is a trying time for any advisor, it's also a great opportunity to preserve your current clients and grow your business.

The best advisors communicate with clients regularly and are offering even more support to their clients in these down times than in a booming market.

This can come in the form of newsletters, personalized event letters or conference calls with specialists. House calls also show clients they're important. Proactive measures can include client appreciation events, which help to nurture relationships with existing clients, establish new relationships and get referrals.

Some potential clients may be dissatisfied with their advisors or have ended their relationships with their reps. For a hesitant prospect, start slowly, proving your value by taking on a smaller asset, such as an IRA. Over time, this allows you to foster that relationship and establish trust for greater responsibility.

Recessionary times can be stressful, but remember that every advisor is dealing with the same market. The best advisors step up their level of communication when clients need hand-holding the most. Clients appreciate the outreach—and your business will thrive in the process.

Chris Radford is the president of Overland Park, Kan.-based VSR Financial Services (www.vsrfinancial.com), a full-service securities broker-dealer.