The Planning Issues We Faced in the Pandemic

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We say it all the time to clients: You never know what could happen, so let us plan for the unexpected. But it is quite different when the unexpected happens to us as advisors. This pandemic is unlike anything we have ever considered or anticipated. In a blink we went from running business as normal to being in lock down in our homes, unable to do business as usual while at the same time having clients who felt very much the same way.

Beyond the technological challenges of working remotely, we have encountered unique and daunting planning issues during in the last six months.

At the beginning of this outbreak, we knew it was crucial to communicate with our clients. We went from working in an office environment to having the entire team working from home. We wanted our clients to know we were still available to them. We reached out using phone, email and Zoom to make sure we checked in on our clients and let them know we were there for them.

We also found that many clients needed planning. This is where being a CFP with a planning-based approach has been helpful. We have helped clients navigate cash flow, uncertainty, and change.

During a time like this, advisors need to be front and center with their clients. Most of all, our clients need to know that we are a resource for them. When they are concerned about the economy, their jobs or their businesses, it is crucial that we help them understand where their assets are, what options they have, and how this pandemic affects their overall planning.