I have been a financial advisor for 30 years. Never before have I experienced an event that has impacted the investment community like the COVID-19 pandemic.
The virus, from my perspective produced feelings of helplessness in people. The statistics and mortality models continued to worsen and the situation has lingered on for months. The majority of the population sheltered at home. As if closing business and being cooped up at home were not bad enough, the U.S. soon experienced unprecedented social unrest with coast to coast protests after the killing of George Floyd, some of which devolved into rioting. No one could hide from the chaos and the fear. Life as we knew it had changed forever.
I wrote in my April, “Views” how it had affected me and how I was trying to get past the “heaviness” of it all. I have had some success, but it still is a work in progress.
The following is a list of some of the important lessons I have learned during the pandemic:
- My clients need me as their “trusted financial advisor” more than ever.
You need a trusting unbiased relationship. B&H is primarily composed of individuals from the Baby boomer generation – myself included. Although we are savvy and innovative, many Baby boomers seem to become enthralled and overwhelmed by media. Boomers grew up in the era of the 6pm and 11pm evening news. Psychologically, 24/7 real time news reporting loaded with highly charged language, extreme negativity and controversy is difficult for anyone to process, including Baby boomers. Many of my conversations with you during COVID-19 actually had very little to do with the markets and more to do with deciphering the news, putting individual news stories and sound bites into relatable context. Many calls from you were just to talk about “stuff” and wanting to know how myself and my family were doing, as well as the B&H family.
- Friendships and Family are Priceless.
Enough said!
- I have rediscovered my “why”.
Perhaps the greatest lesson I learned during these troubling times has been to always remember my why. After 30 years in the wealth management business, I believe I had started to forget why I liked…no loved this business so much! I truly enjoy working with people and helping them achieve their dreams.
Clearly I do not do this simply for altruistic reasons, but the relationships myself and the firm have built with you transcends wealth management. So, I believe as I have helped you through this difficult and anxious season, you have also helped me. True relationships are reciprocal.
You see, while you were feeling isolated and lonely, so was I. You gave me purpose, passion and a reason to get out of bed in the morning. These types of relationships are priceless.