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Home » Your Silence During a Black Swan Event is Deafening

Your Silence During a Black Swan Event is Deafening

Posted August 17, 2020 by Steve Savant Leave a Comment

Sometime silence is golden. Other times it’s just plain yellow. During turbulent times many advisers, money managers and insurance professionals go dark on the web and silent with their clients. Unreturned phone calls from financial professionals during unprecedented drops in the market only fuel client dissatisfaction, which can lead to legal action.

Communication is best. Service is a cornerstone to the financial industry. Better to take a tongue lashing from your angry clients then to dive deep into the ocean of unresponsiveness. Financial instability generates a warranted fear. You may not be culpable for your client’s losses, but your relationships can easily be damaged. Hopefully, you and your clients understood their financial goals, investment risks and asset redeployment strategies. In the Coronavirus environment wealth and health interrelated, two of the most basic characteristics of being human.

The old adage of holding your client’s hands through a financial crisis may be overshadowed by current social distancing protocols, so Facetime may be the solution to making appointments. But it needs to happen.

Filed Under: E & O Insurance

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