Client Meetings Personal Yet at a Distance

4/29/2020

By: Amy Barnes

Assistant Vice President

Wealth

The global health pandemic caused by the spread of the coronavirus has certainly disrupted business operations around the world.  

Like others, we are continuing to adapt our services at INB’s Wealth department so that we can continue serving our clients’ needs in this constantly changing season. Group photo of the wealth team

Because our typical in-person meetings aren’t currently an option, our advisors in INB Wealth and INB Tax are “meeting” with clients through conference calls and Webex videoconferencing. This allows us to still interact on a personal level, answer any questions they have and reaffirm their financial strategies. 

Around the country, many people are understandably concerned with what’s happening with the market because there is a lot of uncertainty right now.

Our INB Wealth clients, however, have been mild mannered, and we attribute that to the education we walk each client through as we begin our financial relationship with them.

When we first meet with a client, we talk about risk and outlook, which involves a long-term focus.

We take clients through a behavioral questionnaire that asks about their feelings on declining markets, such as the 2007-08 Recession.  

For example, one of our questions shows a sample portfolio. One question poses the scenario: “if you had this amount of money and it was the Great Recession, your portfolio would have lost X amount of value. How does that make you feel?” Sometimes people realize they want financial gain but without the risk of loss. 

We also talk about timeline: what is the goal we’re saving for and what kind of timeline do we have? This ranges from retirement to college savings, and timeline helps determine the appropriate mix of investments as well.

We have these types of discussions upfront so we can take that into consideration with investment recommendations we make for them. 

In times like today, we don’t want people to look at the short-term ramifications of their investments, which can be pretty impactful. We want our clients to maintain focus on that horizon that involves the long-term goals we’ve been saving for and planning.

At INB Wealth, we understand each person’s financial picture and what’s important to them. When you have questions or concerns, that’s why we’re here.

We help people manage their finances and investments not only in good times but also in concerning times. 

Today, we’re still opening accounts; in fact, we’re starting new relationships with clients we haven’t even met in person with yet!  

It’s an unusual and exceptional time right now, but we know it’s important to keep perspective. At INB Wealth, we’re not pausing our business model – we’re just adapting it, so we can continue helping our clients with their financial future.


Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC.  INB Wealth Strategies is a trade name of INB.  Infinex and INB are not affiliated.

disclosure

All Posts