While the COVID-19 pandemic continues, more prospective clients are coming to financial planners, writes InvestmentNews.
According to Evelyn Zohlen, president of Inspired Financial and national chair of the Financial Planning Association, as reported by InvestmentNews, “‘There has been an increase in prospective clients reaching out to advisers… Folks who initially thought that they might like to manage their own finances… are reconsidering the advantage of having a professional walk alongside them.'”
Indeed, this speaks to the idea that while a robo-adviser providing asset allocation might be fine in boom times, when the markets are down, clients want the assurance of an adviser and holistic financial planning.
As Zohlen put it: “‘There is a chance to do good old financial planning for someone who only thought of it as investments.'”
While the current market conditions have caused considerable panic, explaining the changes visually and within the context of a greater financial plan can give a worried investor a sense of control and calm during market turmoil.
