Articles for Advisors

Who Decides If You Go On A Ventilator?

With Fall of 2020 upon us, many areas of the country are seeing spikes in COVID-19 cases again, with several states and areas reverting back to more stringent distancing requirements and closing businesses that were previously allowed to open.  This is putting this disease back to the forefront for many individuals.  One thing that many have not thought about or prepared for is the possibility of needing to be put on a ventilator while they are fighting COVID-19 if they were to unfortunately catch it.

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Wealthy Executive Report: Red Investor Vs. Blue Investor: What's Next?

Are you advising clients to remain in cash based investments? Or, are you telling investors to buy now because there will be a market boom after the election? While at the outset it seems that investors are relatively similar regarding the starting point regarding their investments, their attitudes about what might happen next are very different, based primarily upon political affiliation.  The complete set of data discussed below is included in our complementary executive report Red Investor vs. Blue Investor: What’s Next?  The report can be downloaded here.

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Will Video-Chat Overtake Face-to-Face Client Meetings?

Financial advisors typically meet face-to-face with their clients at least annually with many meeting as frequently as quarterly.  But the pandemic has changed the habits and attitudes of investors regarding these meetings.  For most, any meetings in the last six months between financial advisors and their client have been virtual.  Will this be the model for the future or will the traditional face-to-face model return?

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Work/Life Balance During COVID-19

Frantically helping a child log into their zoom class and shouting up to another child to hurry up and get ready, while trying to pour a cup of coffee and get into your makeshift office for your own meeting.  This situation is all to familiar for many families all across the country.  Even for those families who have a parent that stays at home, the challenge of juggling eLearning is very real.  For those individuals who are working from home, many have voiced that it is hard to find a work/life balance in this environment.  Obligations to children for learning conflict with obligations to work.  In the evenings many are catching up on work missed earlier in the day, conflicting with family time or time to unwind.

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Who Watches Videos Online?

Online tutorials and educational videos are all over the internet.  Schools are utilizing many more of these online teaching tools than ever before due to eLearning or hybrid learning.  What role do online videos and video watching platforms have in the financial field?  Do investors go online to watch videos to educate themselves on financial topics, or are they watching videos or accessing video platforms for personal use, not professional?

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What Digital Tools Are Essential to Clients?

In this era of digital technology, it is more surprising if a company doesn’t have a website than if they do.  Financial service firms spend a great deal of time and money determining what exactly will be displayed on their website, and what types of features and services are beneficial.  What is important to note is that not everything a firm feels is essential matches up with what clients feel is essential.  Equal to knowing what is critical to include in online offerings is knowing what services are not important at all, and services that would be beneficial but are not essential.

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Weekly Executive Update:

As someone who has been in the financial services industry for many years, I can acknowledge that change is constant.  Having started my career at a time before the internet, calendars were kept on paper by one’s assistant.  To schedule a meeting with a client or another professional one called the other person’s assistant.  Clearly this was not efficient and belonged to another timeframe.  As we moved forward and could use online calendars, life became more efficient.  Meetings were set up via email.  One would email an executive or client or his/her assistant and find out when that individual was available.  Meeting invitations were sent out electronically and accepted.  This is still the most common way to schedule a meeting.

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Did The Mass Affluent Survive The Pandemic More Successfully Than The Rich?

Sometimes it’s all about perspective.  The market volatility and economic shutdown that occurred in the spring of 2020 had a significant impact on investors and households across the U.S.  Months later, markets have rebounded but the economy is still slow to recover especially for business owners of all types.  So how are investors feeling about their own financial recovery several months after the crash in March of 2020?

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Financial Meetings in 2020

After the quarantine, many people were eager to get their hair cut, go out to restaurants, go shopping and see friends.  Other individuals remain very isolated out of concern regarding this virus either for themselves or for a loved one.  One topic that is equally as important, if not more so, as hair is an individual’s financial health.

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Kids Don't Appreciate Wealth

During the recent riots occurring across the country, the New York Post and other publications reported that affluent white kids were often involved in some of the destruction of property occurring in various cities.  While many of these young people were involved in protests based upon their strong philosophical beliefs regarding Black Lives Matter and other social organizations, the violent actions that others were involved in reflect the fears that their parents and grandparents may have that younger generations who are the beneficiaries of great wealth might not understand or appreciate their wealth.  Combine these types of actions with the opposite fears…..teenagers spending their money on Gucci purses, high-end shoes, clothing and ostentatious cars and one can see the angst that parents and grandparents feel about passing down their values to the next generation.

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