About two weeks ago, I got a phone call from someone whom I have met only a few times. He wanted help finding a financial advisor. Within just a few days, my brother called and said he and his wife were unhappy with their current advisor and was wondering if I could help them with the questions to ask as they began to interview new firms.
It is coming. I have said to everyone who will listen: money is in motion. I can feel it. Think about the consumer who never had a planner before, and is now faced with new challenges. Or, as we slowly adjust to our new way of life, clients who were underserved by their advisors seeking out firms that will address their concerns, not just their money. In fact, Financial Advisor Magazine recently quoted a JD Power survey showing that nearly 1/3 of the consumers who have a financial advisor had not heard from them during the pandemic. These examples are microcosms of what is going on out there. People need help; they need advice and some advisors are falling down on the job. But there is still time to act.
A little over 2 months ago, I wrote a post called “What Are You Communicating to Prospects in This New World?” In it, I suggested that:
“The most successful advisors I knew during those times (volatile markets) took great care of their clients, but also used the volatility and confusion to grow, really grow their businesses. While the natural inclination of most is to wait it out, the most successful firms were proactive and reached out to others who needed help.
My point was that successful advisors knew that they had a service that could help people in need and while it is important to take care of their clients, it is a great time to take care of others in need too. To make it easier, I hosted a webinar last week called “Growing your business in a virtual (and hybrid) world.” This webinar gives you a tactical look at some best practices of advisors who are gaining new clients — right now.
If you missed the webinar, you can still download a copy of the slides. We also included a copy of an article, checklist and a recording, but I would not wait long. As I said, money is in motion, clients need help. You can help them — so get started.
Information provided by Independent Advisor Solutions by SEI, a strategic business unit of SEI Investments Company. The content is for educational purposes only and is not meant to provide investment advice or as a guarantee of any specific outcome. While SEI welcomes comments, SEI is not responsible for, and does not endorse, the opinions, advice, or recommendations posted by third parties. The opinions expressed in comments are the view(s) of the commenter(s), and do not represent the views of SEI or its affiliates. SEI reserves the right to remove any content posted by users of this site in its sole discretion.