The coronavirus pandemic put financial advisors' practices to the test — here’s how 3 practices managed during these unprecedented times.
Since many places have been closed during the pandemic, the advisor is looking into satellite-based Internet and power generators.
The move online has meant hand-holding for less tech-savvy clients, "but clients need to know that we're going to take good care of them whatever the circumstances," Pollard said.Dennis Stearns, CFP, founder and president of Stearns Financial Group in Greensboro, North Carolina.Stearns Financial Group in Greensboro, North Carolina, developed a pandemic protocol during the SARS outbreak in 2003.
"We've increased client communications by a factor of three, and provided special resources via our pandemic task force, which includes infectious disease experts and scenario economists," he said. "Remote [meetings] will be more common post Covid-19 but at least half our clients are hoping we can get back to face-to-face in 2021," said Stearns. The firm is willing to wait until a vaccine is developed to protect clients from infection, he added.
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