Virtual Wealth Management with Forward-Thinking Advisors in a Post COVID World

2 min read

Covid-19 is by no means a thing of the past with the number of cases continually rising across the world, but I do believe we’re beginning to deal with it better. We’re adapting. After all, the world will never be the same again.

As humans, we’re an industrious and persistent bunch. We make do. It’s in our DNA; we find ways to endure and come out alright on the other side, no matter how big the storm.  This current storm in the form of a Pandemic has literally changed human behavior.  We were already in the midst of a megatrend, COVID-19 simply sped it up exponentially!

As a forward-thinking financial advisor, I stepped out of my comfort zone and transitioned my brick & mortar business, Intrepid Wealth Partners, into a virtual practice back in 2013 when the industry barely recognized the concept.

For many other advisors, though, having to go fully digital because of the Coronavirus Pandemic was like sailing into unchartered waters. They were somewhat forced into it.

How could you possibly run a financial planning practice entirely online? For those of you that are still trying to find your way, I’m here to prove that it is 100% doable, and not only that; it’s better – for your clients too. Think of virtual wealth management as your way of weathering the storm that is COVID-19.

How Virtual Wealth Management Helps Your Clients

For individuals looking for wealth management and financial advice, working with a virtual advisor is a whole lot simpler and more familiar! Especially for people 40 years old and younger. According to Bloomberg, as of 2019, the median age in the US is 38.2 years old, meaning half of the American population is younger than that.

This age group is known as millennials, and those that are younger, Generation Z. The point I’m trying to make is that half of the US has grown up with technology – this is how they interact and consume information – through the Internet.

Half of America prefers to shop online – younger consumers are most likely to buy products shown in online ads. So, does it not make sense to serve them their financial advice online?

By being a forward-thinking advisor and transforming your business into a virtual financial planning practice, you will serve your clientele better. Not only that, but it will save you time and money – big time!


Virtual Wealth Management Saves You Time and Money

There are several reasons why financial advisors should embrace the virtual practice model, but two big ones are the amount of time and money you will save.

Firstly, you will not have to pay for office space, (post-COVID-19), nor will you have to travel around the country to meet with your clients in person. Think about that for a second. How much of your annual expenses are made up of those two aspects? Exactly – a huge chunk!

Secondly, by not having to travel, and using the online tools available to meet with your clients “face-to-face” online, you will have a lot more time on your hands to work towards a better life-work balance. A healthy life-work balance will allow you to spend more time with family or on projects you are passionate about. So, it’s a win-win for both you and your clients. They won’t be getting visits after hours at their home, and you won’t need to commute regularly to do so.

The Tools Available for Virtual Wealth Management

There are plenty of tools available online for virtual communication, such as Zoom and Skype, but what about tools for generating leads as a virtual financial advisor? Better yet, a tool that assists you with the entire process of going digital?

Running your financial planning practice remotely you will be able to work with anyone from anywhere regardless of physical location, meaning you can work with more ideal clients!

If you are new to the virtual model, you are probably asking, “how” The answer is a system called Conneqtor.

Conneqtor is a cutting-edge lead generation, digital marketing, and practice management business-in-a-box system that will empower you to dominate in a digital world.

As I mentioned earlier, I made the change seven years ago now, and through my experience I created system that empowered financial advisors to build a robust virtual or semi-virtual business to serve their customers the way they want to be served.

Join us, a collective of innovative NextGen Financial Advisor entrepreneurs who are passionate about helping their clients while growing the business of their dreams.  It is time for us to have a business we love and for our clients to get the type of advice they desire in the way they desire it!

To learn more, download the eBook, and to gain insight into the relationship between virtual financial advisors and their clients, check out my blog, Love Your Finances.

Derek Notman Virtual CFP® for World Travelers | Creator of The Virtual Advisor System for NextGen Advisors I love helping my clients use their money to enjoy life today while planning for tomorrow. I help them realize their hopes, dreams, and goals and achieve financial freedom through the leverage of a comprehensive virtual financial planning process. I serve CEO's, Founders, Business Owners and C-Suite Executives from coast to coast through my virtual model so they can embrace the finer things in life, everything from luxury travel & experiences to buying their dream beach home, all while saving them time and money.

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