At any given point in time, there are some recommendations that are easy to make to clients - typically, that's to do what's worked over the past while. If you've been in cash over the past while, for example, recommending that clients stay in cash is the route of least resistance. And if you haven't been in cash, given all the predictions of continuing market turmoil, increasing a client's cash weighting is the easy recommendation to make.

If you've concentrated your equity component in Canada, maintain this position - and maybe add to it. If a client has owned RIM or stocks and mutual funds in commodities, continue to hold these - and perhaps even increase the weighting.

Making tough recommendations is more problematic. These recommendations can entail redeploying cash into the market even if being on the sidelines has paid dividends. They can mean rebalancing portfolios to put new money into holdings which have underperformed and in some cases lightening up on those which have excelled, in the process defending stocks and funds which clients see as losers. And in some instances it can mean entering or bulking up on entire sectors such as financials, real estate and auto manufacturers that have been absolute dogs over the past while.

Building on winning strategies over the past while is often the easiest course of action with clients - but over time it's making tough and unpopular recommendations that allows advisors to add real value and that lets them prove their worth.

Some guidelines on having clients buy into tough recommendations:

1. Put your recommendations in context

The first necessary step is to prepare clients for tough recommendations, by positioning yourself from the get go as someone who asks clients to go against the grain. The best time to get client buy in on rebalancing, for example, is from the outset of the relationship - before they actually have to commit to putting more money into an investment which has been underperforming. One Chairman's Club advisor tells clients from the first meeting that his role is to provide tough advice - he says "I'm paid to tell you what you need to hear, not what you want to hear - for easy advice you can turn on the TV or open the newspaper."

Even if you haven't had this conversation with clients in the past, it's never too late to position yourself as an advisor who isn't afraid to make unpopular recommendations.

2. Provide hard evidence to back up your opinion

When making tough recommendations, you need to focus on facts, not just opinion. And the harder the recommendation you're making, the more solid the backup support and evidence needs to be. For example, you might use data such as historical valuation levels to support your case.

Providing concrete evidence to support your advice is especially important when you're advising clients to stay with stocks or funds that have underperformed - regrettably, clients sometimes see recommendations to stay the course as a sign of laziness or unwillingness to invest the effort to explore alternatives. It's essential that you make clients understand that a recommendation to maintain a position that hasn't done well comes after rigorous examination of the alternatives, not just inertia on your part - and to walk them though the research and thought process behind your advice.

3. Use precedent to support your case

In buttressing your argument for strategies such as rebalancing or maintaining underperforming positions, look to the recent past for precedent. Point to instances where making difficult decisions has paid off for clients. Point to past examples - in 1998 or 2003 - where going against the grain paid dividends. If mutual funds are a significant part of your business, talk to wholesalers about examples their firm has developed which might be helpful in these conversations. (Just be careful these examples don't come across as a sales pitch for that particular firm).

4. Have the conversation in person

Some advisors have the bulk of conversations with clients over the phone. That's fine for routine conversations - but talking about contentious subjects truly does require the dynamics that only a face to face meeting can deliver.

5. Build in sufficient time to talk

Tough conversations take much longer than easy ones. If you're making a contentious recommendation, ensure you book enough time with the client and in your calendar - the last thing you want to do is run out of time just as you've got a client really engaged in discussion.

Many years ago when attending business school, my finance prof used a line that got a laugh at the time and that has stuck with me since: "If at every given point in time you don't have at least one investment that's a dog, you aren't truly diversified".

While some clients might say that by that measure, they can't afford to be more diversified than they already are, the truth is that advisors prove their worth and add real value by making tough recommendations, especially in challenging markets. As you think about your upcoming client conversations, consider these five steps to plan your difficult conversations - chances are you and your clients will ultimately be glad you did.