Bob Veres digs into our latest Consumer Report and Pulse of the Industry benchmarking survey to unpack how the data speaks to the challenges facing financial advisors as the industry emerges from the pandemic.
Among consumers with over $100,000 in income, “Who can I trust?” is the fundamental question all investors ask. That said, there are significant differences in who they ask this question to based on their wealth, age, gender and sources of wealth.
Though most consumers have never worked with an advisor, the advisory industry has already managed to disappoint close to a quarter of its potential clients—those who’ve had an advisor, left and never come back.
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.
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.