Meeting remotely now OK for most clients, and advisors say it helps business
It’s been four years since the world went into lockdown amid Covid, and although restrictions and mandatory remote work are over, people still want to meet remotely with financial advisors.
Even in the absence of the pandemic, that might have been the case with younger investors. But results of a recent survey show that more than half of people 60 and up say they’re open to working with a remote advisor, while less than one in five are totally against it. Those data, from website Comparison Advisor, also show that more than 70 percent of people under 50 like the idea of meeting advisors virtually.
For some, that trend has negated the need for permanent offices.
“I have found that it is easy to develop a relationship on Zoom and everyone (even older clients) has been comfortable with the arrangement,” said Karen Ogden, partner at Envest Asset Management. “It has the bonus of allowing for people to look for specific information online during the conversation and load it onto a secure portal.”
Ogden, based in Vermont, works with a partner in Connecticut and has clients around the country. They rent shared office space when necessary and in some cases meet clients in their homes, Ogden said in an email.
“We have clients as far away as California and do not feel hampered by someone’s geographic location,” she said.
One reason why even local clients prefer to meet online: traffic.
“Our region has been subject to a huge influx of transplants from other states since the pandemic, so traffic has become much worse over the past few years,” said Ron Strobel, whose firm Retire Sensibly is based in Meridian, Idaho.
“We will often meet once in person at the beginning of a client engagement and then switch to a fully remote meeting
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