Networking with other advisors is undoubtedly a great way to improve your practice. After all, no one has a lock on all the good ideas. And it can be surprising—even humbling—to learn how others approach managing the many facets of their business. But in today’s socially distant environment, chances are you won’t be introducing yourself to people at live conferences any time soon, or even meeting over coffee with as much regularity.
So, embracing networking in a virtual world, despite its challenges, is essential.

The coronavirus pandemic has created unprecedented challenges for just about all of us. And communicating with clients in changing times like those we’re living through—marked by fear, economic uncertainty, and potential market volatility—can be downright daunting for financial advisors. But, of course, that’s exactly what you need to do. In fact, an effective approach to keeping the lines of communication open between you and your clients may be the single most important way to make a difference and ensure the long-term health of your practice. This doesn’t mean you have to come up with all the answers. It does mean you should do everything you can to be that much-needed voice of stability to provide reassurance and solidify trust.

What if something happens to you? We all know that unexpected events—such as accidents, serious health problems, or even death—happen every day. The global coronavirus pandemic has certainly driven home this sobering lesson. Eventually the question “What if?” will become “What now?” when a crisis occurs.

Over the past month or so, the Practice Management team here at Commonwealth has reached out to our advisors across the country—particularly those in COVID-19 hot spots—to check in and hear firsthand how things were going. Of course, we wanted to make sure they were taken care of from a business standpoint. But, more important, we hoped to start conversations about their personal well-being.

How secure is your remote work environment? This question has always been important, but since the COVID-19 pandemic, constructing a proper home office with up-to-date security standards is more critical than ever. Even when shelter-in-place restrictions are lifted, many of us will err on the side of caution and continue to work remotely.