Advice for Financial Advisors from an Investor during Challenging Times
The COVID-19 pandemic has everyone wondering how best to proceed. As an investor and business owner serving the financial industry, here are some thoughts to consider.
Keep Open Contact — Schedules and priorities have changed over the last few weeks. Share your updated office hours, contact information and scheduling changes. Availability, even if only by phone, is essential. Be proactive, not reactive.
Reassure with Facts — The internet and media are full of information and opinions. These are often not correct or comforting. Calmly tell us what to do. We are looking for sound advice from an expert. Experience tells us markets rebound. The best market days often follow the worst ones. Rebalance? Deploy cash? Stay the course? Reassure us. But please— don't send us long, dry white papers or research reports.
Share Empathy — We are all in this together. Health and safety are the top priorities. However, wildly fluctuating markets and losing money only heightens concerns. Do not underestimate the value you offer by being available and sharing honest, expert feedback. We don't expect you to be 100% correct, but we expect you to care. We value you and the service you provide.
Remember - Be Proactive. Reassure us. Show you Care.
P.S. And we care about you, too!