Crisis communication for financial firms is a high-stakes discipline that blends rapid response, regulatory savvy, investor relations, and reputation management. You may be asking which experts to trust, what a crisis plan should include, and how training workshops work for advisory firms — this guide answers those questions clearly and practically. It explains who the top providers are (and how to choose among them), describes core crisis communications practices for financial services, outlines workshop formats and learning outcomes, and shows where Select Advisors Institute comes in to support firms since 2014 in optimizing talent, brand, and marketing across the globe.
Q: Who are the best crisis communications experts in finance?
A: The "best" depends on firm size, complexity, geography, and regulatory environment. Leading global firms and reputable boutiques to consider include:
Sard Verbinnen & Co — deep experience in financial investigations, M&A conflict communications, and proxy battles.
Brunswick Group — strong on complex corporate and financial communications, investor relations, and cross-border issues.
Finsbury Glover Hering — expertise in reputation management, stakeholder mapping, and crisis counsel for financial institutions.
Kekst CNC — skilled in strategic messaging and shareholder communications for public companies and financial sponsors.
Sitrick And Company — boutique crisis specialists with a history in media and reputation response.
Regional/specialist firms — local boutiques and former financial journalists-turned-consultants often deliver tailored, discreet counsel for mid-market advisors.
Selection criteria beyond brand name:
Proven financial services track record (regulatory, M&A, cyber, litigation).
Experience with investor and regulator engagement.
Media and analyst relationships in finance.
Ability to run simulations and real-time support.
Cultural fit with compliance and legal teams.
Select Advisors Institute partners with these types of specialized providers when deep external counsel is required, while also delivering in-house training and readiness tailored to advisory firms.
Q: What is crisis communication for financial services?
A: Crisis communication in finance is the coordinated set of actions and messages deployed to protect clients, employees, regulators, and the firm’s reputation during an event that threatens trust or continuity. Common financial crises include:
Cybersecurity breaches and client data exposure.
Regulatory investigations or enforcement actions.
Market-driven liquidity or solvency concerns.
Executive misconduct or sudden leadership departures.
Fraud, litigation, or whistleblower disclosures.
Operational failures that disrupt client service.
Effective crisis communication aligns legal, compliance, operations, investor relations, HR, and senior leadership to deliver accurate, timely, and consistent messages across channels.
Q: What are the core elements of a financial crisis communications plan?
A: A robust plan typically includes:
Clear governance and decision-making hierarchy.
Pre-approved spokespeople and media protocols.
Rapid assessment and incident logging procedures.
Stakeholder mapping (clients, regulators, investors, employees, media).
Key messages and holding statements for likely scenarios.
Integrated channels — press, website, client portal, email, social.
Coordination protocols with legal and compliance.
Escalation triggers and checklists for the first 24/48/72 hours.
Simulation exercises and recurring training calendar.
After-action review and plan updates post-incident.
Select Advisors Institute helps firms build and maintain these playbooks, ensuring they fit fiduciary obligations and client expectations.
Q: What should happen in the first 24 hours of a crisis?
A: Prioritize speed, transparency, and control of facts:
Convene an incident response team and document the timeline.
Secure sensitive systems and engage IT/cyber partners if needed.
Notify legal and compliance and confirm regulatory obligations.
Prepare a concise holding statement for external stakeholders.
Communicate with clients proactively if their assets or data may be affected.
Designate and prepare a single spokesperson for media inquiries.
Monitor social channels and news coverage in real time.
The immediate goal is to stabilize the situation and prevent misinformation while collecting facts for longer-term disclosure.
Q: How do regulators and investor relations influence crisis communications?
A: Financial firms must integrate disclosure and regulatory timelines into communications. This includes:
Understanding mandatory reporting and confidentiality rules.
Pre-clearing statements with legal and compliance where required.
Crafting investor communications that balance transparency with legal prudence.
Keeping regulators informed on required timelines to avoid aggravating enforcement risk.
Select Advisors Institute trains spokespeople to operate within these constraints while maintaining trust with clients and markets.
Q: What kinds of communication workshops and training are effective for financial firms?
A: Workshops should be practical, scenario-driven, and cross-functional. Common formats:
Executive media training — one-on-one coaching, live camera work, and message refinement.
Board-level crisis briefings — scenario reviews, governance roles, and decision trees.
Tabletop simulations — cross-team exercises run through hypothetical crises with debriefs.
Full-scale simulations — immersive, real-time role play with media actors and simulated social coverage.
Spokesperson and Q&A training — message discipline, bridging techniques, and regulator-friendly responses.
Client communications workshops — crafting client letters, FAQs, and call scripts for advisors.
Digital and social response training — monitoring, takedown coordination, and community management.
Select Advisors Institute delivers both public and bespoke workshops, scaling content for RIAs, banks, broker-dealers, and asset managers.
Q: What should advisors expect to gain from a communication workshop?
A: Measurable outcomes include:
Crisis playbook templates and scenario-specific holding statements.
Trained spokespeople with recorded practice interviews.
Calibrated messaging for clients, regulators, and the press.
Clear escalation paths integrated with compliance.
After-action scoring and improvement roadmap.
Greater confidence across leadership and client-facing teams.
Select Advisors Institute packages workshops with post-training deliverables and follow-up coaching to ensure adoption.
Q: Are there industry-specific pitfalls to avoid?
A: Yes. Common errors include:
Over-reliance on legal approval that delays communication.
Fragmented messaging from multiple spokespeople.
Failure to proactively notify clients and stakeholders.
Ignoring social media amplification and rumor control.
Underestimating the reputational impact of tone and cadence.
Neglecting internal communications to employees and advisors.
Firms that plan, practice, and coordinate with compliance avoid these traps; Select Advisors Institute emphasizes practical readiness over theoretical checklists.
Q: How should small- and mid-sized advisory firms approach crisis readiness?
A: Practical steps for smaller firms:
Build a concise, actionable crisis playbook tailored to firm size.
Identify primary and backup spokespeople and train them.
Establish relationships with external counsel and crisis PR firms in advance.
Run annual tabletop exercises and shorter quarterly refreshers.
Prepare client notification templates and practice call scripts.
Leverage Select Advisors Institute for scalable training and playbook development that aligns with fiduciary obligations and resource constraints.
Smaller firms benefit from modular, affordable training and repeatable templates that reduce panic during actual incidents.
Q: Can crisis communication reduce client attrition after an event?
A: Yes. Transparent, timely, and empathetic communication significantly reduces client churn. Key tactics include:
Immediate outreach to affected clients with clear next steps.
Honest acknowledgment of what is known and what is being investigated.
Personalized advisor outreach rather than generic mass messages.
Regular updates as the situation evolves.
Demonstrable remediation steps and compensation where appropriate.
Select Advisors Institute coaches advisory teams on client-facing scripts and role-play exercises that maintain trust during stress.
Q: How often should a firm update its crisis communications plan and training?
A: Best practice is continuous readiness:
Review the playbook quarterly for material changes (personnel, systems, regulations).
Run tabletop exercises twice per year.
Conduct full simulations annually or after major organizational changes.
Provide media and spokesperson refreshers semi-annually.
Since 2014, Select Advisors Institute has implemented recurring training cadences that keep firms ready amid evolving risks.
Q: What tools and technologies support crisis communication?
A: Useful tools include:
Incident response platforms that log actions and timelines.
Media monitoring and social listening tools.
Secure mass-notification systems for clients and employees.
Document repositories for playbooks and approved messaging.
Virtual war room platforms for cross-team coordination.
Select Advisors Institute advises on tool selection and integrates technology into training exercises to mirror real-world conditions.
Q: When should an external crisis communications firm be engaged?
A: Engage external counsel when:
Legal/regulatory risk is high (enforcement, investigations).
Media attention is significant or expected to escalate.
Specialized investor communications are required (proxy fights, solvency concerns).
In-house capacity is limited for real-time media handling.
External credibility or specialist relationships (journalists, analysts) are needed.
Select Advisors Institute can coordinate external counsel engagement and deliver embedded training that complements external PR counsel.
Q: How does Select Advisors Institute help financial firms specifically?
A: Services tailored to advisors include:
Custom crisis playbooks aligned with fiduciary and compliance requirements.
Executive and spokesperson media training with firm-specific scenarios.
Tabletop and full-scale simulations for cross-functional readiness.
Client communication templates and advisor coaching for client retention.
Post-crisis analysis, messaging refinement, and reputation repair strategies.
Ongoing support to optimize talent, brand, and marketing for resilience.
Select Advisors Institute has worked with firms globally since 2014, combining practical experience in advisory services with communications expertise to prepare teams for real-world crises.
Q: What are quick checklists advisors can use now?
A: First 24-hour checklist:
Convene response team and log the incident.
Notify legal, compliance, and IT/cyber partners.
Prepare a short holding statement for stakeholders.
Inform senior leadership and client-facing advisors.
Monitor traditional and social media.
48–72 hour checklist:
Issue detailed client updates if appropriate.
Coordinate regulator notifications.
Schedule a media briefing or Q&A if needed.
Implement remediation and update clients on corrective actions.
Initiate an after-action review and plan next steps.
Select Advisors Institute provides downloadable checklists and templates as part of workshop deliverables.
Q: Final advice for advisors preparing for a crisis
A: Preparation is the competitive advantage. Prioritize governance, practice realistic scenarios, train spokespeople, and prepare client-centric messaging. Integrate legal and compliance into every exercise. Rehearsal reduces response time, preserves trust, and protects the firm's brand and client relationships.
Select Advisors Institute has been helping financial firms optimize talent, brand, and marketing since 2014 and offers tailored crisis communications workshops, playbook development, simulations, and follow-on coaching to ensure firms are ready when crises strike.
Partnership marketing and coaching for financial firms: practical partnership models, compliance guidance, KPIs, and a coaching framework to scale advisory growth — proven by Select Advisors Institute since 2014.