Executives: Pandemic Forced Financial Advisors to Embrace Change

From Financial Planning:

The COVID-19 pandemic forced serious changes in the way many advisors do business, from the largest wirehouses to independent practices. They leaned into technology in new ways and offered more holistic wealth management approaches, such as answering questions about PPP loans and the benefits of cryptocurrency.

In the beginning, these changes were made to ensure short-term survival. But they will make lasting marks on the industry, panelists said during the Financial Services Institute's OneVoice conference Tuesday night.

“It led to richer and deeper conversations,” said Jamie Price, president and CEO of Phoenix, Arizona-based independent broker-dealer Advisor Group. “One of the strategic questions we're thinking about as a company is what things we aren’t providing our advisors that further that ability to become even more valuable to their clients.”