FA-IQ reached out to advisors to ask: What changes have you implemented in the way you run your practice because of the Covid-19 pandemic? Do you expect those changes to stick even after the pandemic is over?

Nancy Tengler, chief executive officer and chief investment officer at Laffer Tengler Investments. Scottsdale, Arizona-based Tengler has been in the industry for 38 years and her firm has $1.1 billion in client assets.

Nancy Tengler
“As a firm and industry, we enhanced digital communication during the pandemic, moving to webinars instead of in-person meetings and events.

Interestingly, the pandemic enhanced our ability to communicate with clients and expanded our geographic footprint.

We expect to continue in a hybrid model, meeting clients in person when feasible and continue to provide the flexibility of video conference where warranted.”

Michael Leverty, founder of Leverty Financial Group. Hudson, Wisconsin-based Leverty has been in the industry for 20 years and has around $450 million in client assets.

Michael Leverty
"The pandemic forced our team to make immediate adjustments and pivot from historical best practices in running the business.

Although some areas of the practice have reverted to pre-pandemic ways of doing business, such as a return to the office for staff, some tactics adopted during the pandemic are here to stay.

Pre-pandemic, client conference calls and video meetings were less frequent as clients typically opted for in-person office meetings. Although face-to face-meetings are still important for relationship building, check-in calls through video conferencing or a phone call have become the norm for day-to-day plan adjustments with clients. We are aware of the 'Zoom fatigue' risk, so we often opt for multiple shorter check-in calls covering one or two topics versus a longer meeting covering a full annual review.

The pandemic also accelerated the transition from formal daily dress attire, and we are definitely not going back to suit and tie."

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