Are your clients worried about tariffs? Here’s how to respond with confidence.

When headlines say, ‘Consumer Confidence Hits a 12-Year Low’ and ‘Tariff Turmoil Rattles Markets’, it's clear we’re no longer operating in a normal business cycle.

We surveyed over 200 advisors from around the globe. Nearly half (49.5%) of these advisors say their clients feel less confident than they did six months ago.

Advisors also shared how clients are asking them different questions. In this new climate, clients aren’t asking ‘How do we grow?’, they’re asking, ‘How do we survive?’

This shift is being driven by:

• Persistent inflation
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• Rising interest rates
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• Tighter capital access
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• Global trade friction
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• And now: tariffs

Client questions are urgent and practical, with questions such as:

‘What impact will tariffs have on the economy, cost of materials, and inflation?’

‘How will increasing supply costs affect our sales and margins?’

‘How can we prepare for uncertainty in pricing and demand?’

As one advisor put it:

‘Tariffs have a lot of people scared. They’re worried about what will happen to their costs.’

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How advisors are helping their clients:  

Leading advisors are using financial tools to:

• Run what-if scenarios around tariff increases
• Model cost inflation and impact on profitability
• Help clients rethink pricing strategies under uncertainty
• Offer reassurance  
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3 simple steps in Fathom to factor in tariffs
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1. Create a forecast scenario with a blended tariff rate  
   
   If your retail client is facing different tariff rates across categories such as, 18% on clothes, 15% on shoes, 8% on accessories. Use a blended rate (e.g. 13.5%) and apply it to your forecast scenario.
   
   → Go to Fathom’s forecast tool → Create a new 'Scenario’→ Name it → Click create.
   
   For a full step-by-step guide, see our Scenario Manager Help Centre article.
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2. Adjust forecast values with baseline rules
   
   Apply the blended tariff increase to forecasted cost of goods sold (COGS) using a Baseline Adjustment.
   
   → Click on the first forecast month → Add a New Value Rule → Select Baseline Adjustment → Input 13.5% increase → Click Create Rule.
   
   Instantly, you’ll see the impact on profit.
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3. Use formula value rules for greater precision  
   
   ‍For more accuracy, use Formula Value Rules with demand drivers.
   
   → Upload your tariff assumptions as drivers
   → Build formulas that account for changing cost inputs
   → Apply those formulas across your forecast.
   
   This adds dynamic flexibility as trade conditions shift.

Worried about rising costs and trade uncertainty?

Explore how other advisors are tackling shifting supply prices and tariff threats.

Download the full report

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