By Jillian Stinson
How do you do business with an advisor without meeting him personally? Here are some tips for your virtual and remote appointments.
With the COVID-19 pandemic, you may need financial advice more than ever. You are not alone. In a recent survey of Canadians, 51% of respondents named financial concerns among the factors affecting their mental health.
Whether it’s to review your plan or start planning, you need an advisor. But how do you do business with an advisor without meeting him?
Work with an advisor remotely or virtually.
Usually, you meet your advisor at home or in your office. But right now, it’s hard. Fortunately, advice can be given virtually and remotely. They are applicable today and will soon be part of our habits.
It is essential to stay in touch despite physical distancing. Advisors have adapted to help Clients meet the challenges of today and tomorrow.
Why work with a pandemic advisor?
Everyone experiences the pandemic differently – mentally and financially. Counsellors can offer you peace and comfort.
Sara Zollo (CFP®, CLU®, CHS™*) is a Sun Life Financial Advisor. She embraced virtual services. She listens to the concerns of her clients, new and old. It helps them manage their two primary sources of anxiety:
loss of income
Concerns about retirement
Faced with these concerns, the advice and experience of an advisor are beneficial.
“I help people who have lost their income make a budget and find their way through the government programs available,” explains Ms Zollo. For my Clients, at the start of their retirement, I remind them that we had considered market volatility** like this. »
“Markets go up and down. I reassure them by saying that they had planned for the worst, she adds. Yes, the worst is here, but it will be fine. »
Coronavirus (COVID-19) and your savings plan: what to do?
The effects of the coronavirus on your savings
Whatever your situation, now is a good time to talk to an advisor. He will be happy to help you:
Managing your savings in a volatile market**
Make changes to your retirement plan
Facing a reduction in your income
(*Mutual funds are distributed by Sun Life Financial Investments (Canada) Inc.)
(** “Market volatility” refers to significant market swings, next ups and downs.)
What is a financial plan? Why do you need it?
The value of a long-term plan has never been more apparent. We have proof of this as we fight this pandemic. “Those who had a plan have a cushion,” says Sara Zollo. When you have a plan, you are less likely to make decisions on a whim. »
A financial plan is:
A list of things that are important to you right now
What you want to have later
How you will use your money to achieve your goals
Whatever your financial situation, it is customary to be concerned about market fluctuations, savings and savings.
“In a global plan, we take into account market declines like the one we are currently experiencing. However, some fear that the current situation will continue says the adviser. I intervene by reviewing the client’s plan to verify that all the elements are still relevant and by making adjustments if necessary. For those who don’t have a plan, I help them create one taking into account situations like this. The best advice I can give you is to stick with your investments and keep contributing – if you can. »
Should you speak to an investment advisor?
What if you already have a plan?
Sara Zollo advises people who already have a plan to reassess their risk tolerance. “By comparing your responses before and after the pandemic, you will get an interesting perspective. »
Regardless of the value of our portfolio, we can all benefit from sound financial advice. “I hope people find some financial stability and learn from this exceptional situation. Whether it’s budgeting, thinking about spending, saving for an emergency, or having a foresighted attitude. For many people, changing their attitude towards planning and saving would be a giant step,” says the advisor.
What your advisor can do for you during COVID-19
How to build your emergency fund
What can you expect when meeting virtually with an advisor?
