The COVID-19 pandemic has highlighted the benefits of planning, with the ensuing market volatility easier to put in perspective when both clients and advisors view it through the lens of a set of future goals.
More than eight in 10 advisors (81%) believe clients with a financial plan had less discomfort and anxiety during the market volatility, according to an eMoney survey.
“We are playing a ton of golf with our clients these days since it allows us to socially distance from our clients while also spending time with them.”
Much like physicians treating sick patients, financial advisors must assess the situation, make a recommendation and explain to clients the risks so they can make an educated decision about their financial health.
A lot can be learned listening to clients’ experiences working with financial advisors—good and bad. We talked to Janine Firpo, a retired international development executive in Oakland, Calif.
