Managing Client Expectations Amid Covid-19

The pandemic and resulting market volatility and uncertainty have led clients to demand even more from their advisors when it comes to information about their specific investment portfolios and future projections. It is more important than ever to ramp up current and prospective clients’ communications to explain more about what advisors do, how they do it, and their plans for the future. It is important to convey the scope of fiduciary regulations and standards advisors must abide by when making important financial investments for their clients. Explaining to clients the specific advisory services offered, technology used when investing, and specific business continuity plans may help ease clients’ minds.

Communicating an advisor’s business continuity plan and assuring that business will operate as normal will also help manage current and prospective clients’ expectations. If clients know that an advisor is still doing everything in their power to help clients reach their financial objectives, they may soften their demands on the advisor. While communicating with clients is always the expectation, during uncertain times such as this one, advisors need to send more communications than normal, in frequency and depth – just to reassure clients that a business plan is in place and no disruption in service or portfolio management will occur. Creating small but frequent touches in client communications will often do the trick in reassuring clients’ concerns and creating more powerful client-advisor relationships.

Most importantly, advisors need to listen to their clients’ needs and adapt their communications appropriately. Consistently reassessing communications to and from current and potential clients can help meet increasing client demands. The more discussions that are had between clients and advisors about the financial issues they may be facing, the better the client-advisor relationship. Although the world is crazy right now, it is important to communicate to clients that business is still running smoothly – even if it is virtual.


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SFA Partners is a family of companies focused exclusively on empowering independent financial advisors. SFA Partners includes The Strategic Financial Alliance (SFA), member FINRA/SIPC, a broker-dealer and investment adviser; Strategic Blueprint, a registered investment adviser; and SFA Insurance Services. Our wide breadth of services enables us to support a variety of advisor business models. Parent company, SFA Holdings, Inc. is owned by advisors, employees, and individual investors.