Frozen like a deer in the headlights. It’s likely a good description of your clients and many advisors during the COVID-19 pandemic. We are told to work from home. Not go out. Avoid in-person social contact. Cold calling seems prohibited under rules like New York’s state of emergency. Do the wrong thing and you are labeled insensitive. What should an advisor do?
The simple answer is: “Do something.” We must all stop treating this like a bad dream or a very long disaster movie and insert ourselves into the plot. Let’s assume you have gotten in touch with all your clients, letting them know help is available when they need it. The phone doesn’t ring much.