Warren Buffett has said it only takes two things for investors to succeed - having a sound plan and sticking to it ... and it's the sticking to it part where most people struggle.

Along similar lines, the key for advisors in helping clients succeed is not developing the right plan, it's putting in place strategies to help clients stick to the plan once it's developed.

That's less of an issue when  people are making money and investors feel rewarded for being in markets.

But it's a huge issue in times like these, when it's easy for Canadians to become anxious and discouraged ... to go to cash with their existing investments and stop making RRSP contributions.

Here are two tactics that might help clients maintain confidence and stick to their plans:

Providing perspective

In my conversations with Canadian investors, almost all want to deal with advisors who are at the same time generally positive but also provide a balanced perspective, so don't fall into the perma-bull  "don't worry be happy" camp.

That's why you can't dismiss the issues that global economies and stock markets are facing.

And with many clients, you can't rely on just your own opinion or your firm's research - in times like these, it's helpful to provide support from trusted, third party sources.

You also have to be careful about only telling one side of the story - in fact by demonstrating that you've looked at the full gamut of views, your ultimate recommendation has more power.

So if you're recommending clients stay fully invested, it's important to show clients you've examined the negative case.

And if you're cautious and recommending cash, it's helpful to demonstrate that you're not ignoring the optimistic voices.

That's the reason that in early July I spoke to both Jeremy Siegel and Robert Shiller, the two leading voices on the market valuations, so that I could present both sides of the argument on market valuations - and so that advisors could present both sides to clients.

Both  Siegel and Shiller are highly credible - they both called the tech meltdown and take a fact-based approach to their analysis.

And if you're going to use one of these interviews with clients to support your case, you might want to send clients not just the one you agree with but both videos - and then talk about the contrary case that has been presented.

Doing this entails a longer, more detailed conversation - but it's this kind of conversation that helps clients stick to their plan when the market goes against whichever stance you've taken.