Understanding how the industry has been impacted by COVID-19 and the accompanying dramatic shifts in behavior, politics and society that we have seen in its wake is crucial as we continue to build our plans for 2021. Toward this effort, we invite you to explore the results of our most recent Pulse of the Industry survey.
Remember, Clients Can See You
The fundamentals of good communication do not change simply because there is a camera involved. The limitations of virtual communications make it even more important that we present ourselves and our insights with an additional level of thoughtfulness and care.
Why The All-Virtual World Won’t Work
Since people have continued to be productive online during the pandemic, there is a strong temptation to conclude that we don’t need in-person interactions anymore. But when things go back to normal, we can’t forget that in-person meetings have always been fundamental to our client relationships.
Pulse of the Industry: 2020 Midyear Study
We surveyed the G2 Leadership Institute community of firms on where they currently stand halfway through 2020. Check out the key takeaways from our latest report on the Pulse of the Industry.
Do You Know a Good Advisor?
Referrals remain the primary source of growth for advisory firms. Not only are referrals a fantastic source of growth opportunity, but they also get you better clients. I would like to spend some time on referrals—how they originate and what we can do to make sure we capture their full potential.
G2 Scholarships Aim to Increase Diversity in Industry Leadership
There are many talented people from underrepresented groups who could be contributing to the future of leadership in the advisory industry. G2 scholarships help eliminate the financial barriers to program participation by providing full tuition and accommodation.
Survival of the Happiest
Financial advisors are exceptionally talented at reaching out to clients and asking them how they feel. Unfortunately, we often forget to do the same with our teams. We did a quick survey of advisory firms and found that virtually every single firm had reached out to its clients with multiple letters and phone calls during the pandemic. But almost no CEO penned a letter to employees.
Best Practices in a Crisis
We believe that there is a lot of power in learning from each other, and so we reached out to current and former participants of the G2 Leadership Institute to crowdsource their best practices for managing a crisis.
Saving Sick Succession Plans
The likely impact of the COVID-19 crisis is that many firms will abandon their already fragile internal succession plans and seek refuge in the safety of institutional buyers and larger organizations. Founders need to continue trying to save internal succession, even if it’s tempting to give up.
Maintaining Team Morale
In the third episode of our Crisis Management webcast series, Philip Palaveev addresses how G2 leadership can maintain the spirit and optimism of their teams who are experiencing rapid and disorienting changes as their firms adjust to the “new normal” in the wake of COVID-19.