PLANADVISER - March/April 2022 - 30

growing your practice / communication
The Prospects of Staying Virtual
Advisers review the main pros and cons of digital meetings
A
t the start of the COVID-19 pandemic, many advisers
were forced into working from home, using video
conferencing tools such as Zoom or Microsoft Teams.
This has allowed for easy and almost instant contact with
clients across the country.
Now that states and companies have lifted certain
pandemic restrictions, advisers are working to understand
how virtual meetings will fit into their practice, in doing so
balancing their needs with those of their clients. To what
extent do advisory firms plan to keep leveraging these
digital meeting platforms? And might a digital-first meeting
approach be here to stay? Five advisers shared their insights
on these timely subjects and more.
Jeffrey Petrone, Managing Director,
SageView Advisory Group
" On the one hand, the virtual platform has allowed us to
scale our service model beyond its prior limitations. We're in
Florida, and previously, we may have had to drive hundreds
of miles just to get to a client's office. By using virtual
platforms, we can simply click 'join' or click 'disconnect,'
which means we can meet with our clients, then return to our
desk instantaneously. So, you can imagine how that makes
30 | planadviser.com March-April 2022
working much more efficient from a service perspective.
" It has also been helpful from a prospect standpoint.
Initially, I wouldn't say that plan sponsors were as
interested in engaging with a new adviser virtually. Things
have changed as the pandemic has progressed. I have lots of
my initial conversations with prospective clients virtually
now, and I don't see any significant difference between
meeting for the first time in person or virtually. Of course, if
things go well, we always will then try to have a secondary
conversation in person, where we can develop that rapport
you get from the in-person conversation. The deeper
relationship-building occurs when you're sitting across the
table from somebody.
" The other side of this, for me, is that the pandemic has
seen, and given rise to, considerable turnover within plan
committees. You may have a new chief human resources
officer come in or a new chief financial officer join up.
This turnover has underscored the need to build new
relationships with new leaders at client companies you
might have worked with for a long time. If everybody follows
this kind of virtual model, then you could get to a point
where you might not have the same level of relationship-
even with established and loyal customers. I think that
dynamic could potentially put you at risk. "
Art by Philip Lindeman
http://www.planadviser.com

PLANADVISER - March/April 2022

Table of Contents for the Digital Edition of PLANADVISER - March/April 2022

A Digital Divide
Staying Power
The Prospects of Staying Virtual
Another Retention Tool
Is It Time to Let Go?
The Evolving Use of RFPs
Best Interest Reasons For a Rollover
Guaranteed Lifetime Income
PLANADVISER - March/April 2022 - C1
PLANADVISER - March/April 2022 - FC1
PLANADVISER - March/April 2022 - FC2
PLANADVISER - March/April 2022 - C2
PLANADVISER - March/April 2022 - 1
PLANADVISER - March/April 2022 - 2
PLANADVISER - March/April 2022 - 3
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PLANADVISER - March/April 2022 - 14
PLANADVISER - March/April 2022 - 15
PLANADVISER - March/April 2022 - 16
PLANADVISER - March/April 2022 - 17
PLANADVISER - March/April 2022 - A Digital Divide
PLANADVISER - March/April 2022 - 19
PLANADVISER - March/April 2022 - 20
PLANADVISER - March/April 2022 - 21
PLANADVISER - March/April 2022 - 22
PLANADVISER - March/April 2022 - 23
PLANADVISER - March/April 2022 - Staying Power
PLANADVISER - March/April 2022 - 25
PLANADVISER - March/April 2022 - 26
PLANADVISER - March/April 2022 - 27
PLANADVISER - March/April 2022 - 28
PLANADVISER - March/April 2022 - 29
PLANADVISER - March/April 2022 - The Prospects of Staying Virtual
PLANADVISER - March/April 2022 - 31
PLANADVISER - March/April 2022 - Another Retention Tool
PLANADVISER - March/April 2022 - 33
PLANADVISER - March/April 2022 - Is It Time to Let Go?
PLANADVISER - March/April 2022 - 35
PLANADVISER - March/April 2022 - The Evolving Use of RFPs
PLANADVISER - March/April 2022 - 37
PLANADVISER - March/April 2022 - 38
PLANADVISER - March/April 2022 - Best Interest Reasons For a Rollover
PLANADVISER - March/April 2022 - Guaranteed Lifetime Income
PLANADVISER - March/April 2022 - C3
PLANADVISER - March/April 2022 - C4
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https://www.planadviserdigital.com/planadviser/march_april_2022
https://www.planadviserdigital.com/planadviser/january_february_2022
https://www.planadviserdigital.com/planadviser/november_december_2021
https://www.planadviserdigital.com/planadviser/september_october_2021
https://www.planadviserdigital.com/planadviser/july_august_2021
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https://www.planadviserdigital.com/planadviser/march_april_2021
https://www.planadviserdigital.com/planadviser/january_february_2021
https://www.planadviserdigital.com/planadviser/november_december_2020
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https://www.planadviserdigital.com/planadviser/march_april_2020
https://www.planadviserdigital.com/planadviser/january_february_2020
https://www.planadviserdigital.com/planadviser/november_december_2019
https://www.planadviserdigital.com/planadviser/september_october_2019
https://www.planadviserdigital.com/planadviser/july_august_2019
https://www.planadviserdigital.com/planadviser/may_june_2019
https://www.planadviserdigital.com/planadviser/march_april_2019
https://www.planadviserdigital.com/planadviser/january_february_2019
https://www.planadviserdigital.com/planadviser/november_december_2018
https://www.planadviserdigital.com/planadviser/september_october_2018
https://www.planadviserdigital.com/planadviser/july_august_2018
https://www.planadviserdigital.com/planadviser/may_june_2018
https://www.planadviserdigital.com/planadviser/march_april_2018
https://www.planadviserdigital.com/planadviser/january_february_2018
https://www.planadviserdigital.com/planadviser/november_december_2017
https://www.planadviserdigital.com/planadviser/september_october_2017
https://www.planadviserdigital.com/planadviser/july_august_2017
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