Getting a handle on what clients need from you, today and for the future, is not always easy. We have been through such rattling events economically, and that was followed by an environment where there have been more questions than answers. What is the best way to thrive—not merely regain footing—in the months and years ahead?

Whether you have been in the business a short time or a long time, there is one thing for certain: this is a profound moment in the industry. Advisors and their firms alike are rethinking their approaches and trying to understand risk management. Even advisors who did nothing wrong may feel they have to rebuild bridges to reconnect with their clients. Everyone is wondering what investors will be looking for when we emerge from the recession.

We have developed our take on these issues and have been traveling to visit clients and colleagues offering "Seven Trends Reshaping Financial Services." These trends have emerged from conference transcripts, studies and articles we follow, and conversations with advisors and industry leaders.

While you have been comforting and repositioning clients, we have been compiling a presentation reflecting our point of view in headquarters' conference rooms. We find managements who are open to answers, eager to validate their own perspectives. This two-way dialogue has been informing our views further about the seven trends.

Here in On Wall Street magazine we present the first of these trends: a populist backlash against the wealthy.

Until recently, the upper income brackets were admired, watched and emulated, as middle America aspired to be wealthy. Then, seemingly overnight, everything changed. It turned out that corporate governance was flawed beyond the public's wildest expectations, and excessive compensation has rankled feelings. It got to the point that mistrust for senior management in corporate America could not be stressed enough. Then, personal wealth itself came under attack.

There was a time when the industry had its heroes—founders who had the moral authority and clout to stand up for their clients and provide a credible voice for the industry.

Many of these heroes have retired and their successors are part of multinational organizations. At a time when the industry is under fire, there are few voices rising in its defense.

Surveys show that Wall Street has gone from revered to reviled, and the entire industry has been painted with the same brush.

Government will turn to the top 2% of income-earners as opposed to "working families" - a contrast that implies mutual exclusivity. That is, an angry public is reinforcing the government's efforts to rein in compensation, re-regulate and finally, enact higher taxes.

What's an advisor to do? That's a tough one. Recognizing the trend is the first step. Make an effort to draw out a client's views on how public sentiment has soured against business owners and other financially successful households. Some clients may wish to avoid the topic all together. Those who wish to talk may voice sentiments in the context of their own political views. Of course, proceed with care. Avoid straying into any political views your client may not share.

We have talked to investors who are fairly good about taking the initiative when it comes to mitigating the effect of impending tax increases. If clients want to vent, let them. Deep-seated feelings about their wealth may cause some clients to step up their charitable giving, adopt a wait-and-see posture or accept that government has become an unpredictable factor in their business model.

Let us hear from you as we explore this trend toward populist sentiment, which is widening the perception gap between our financially successful clients versus others. Are your clients feeling isolated and how are you connecting with them on this topic?

We have heard about advisors who have found common ground with their clients on this topic, and the kinship has helped to restore frayed relations and rekindle constructive dialogue. In this case, the trend may be your friend.

GERRI LEDER is an industry marketing consultant and can be reached at leder@ledermark.com