Matt Reiner shares his experiences throughout the coronavirus pandemic and its impact on the financial advisory industry. An excerpt from the article is below.
The coronavirus pandemic and its immediate economic fallout served as a sort of stress test for the financial advisory industry.
The COVID-caused market turmoil put tremendous pressure on our organizations and systems. During this period of extreme panic and uncertainty, we had to deal with phone calls, emails and video meetings to reassure and educate our clients. When we weren’t communicating, we were focused on ensuring portfolios were positioned appropriately to navigate the crisis and re-running our financial plans to play out the multitude of potential scenarios.
Understandably, other vital tasks sometimes fell through the cracks.
As things calm down and we have time to look back at our performance during the craziest days of the pandemic, there are lessons to be learned about how we operate and deliver service to our clients. Chief among these insights is the power of an AI assistant to boost our capabilities.