| We understand that these are challenging times for financial advisors and their clients. The fallout from the coronavirus pandemic has caused unprecedented disruption and hardship on both a micro and macro level. The long-term implications of the virus remain unclear, but there is little doubt that the impact will be far-reaching, influencing our economy, our social consciousness, and our daily way of life. Our goal in this new report from Practical Perspectives - a leading consulting and research firm focused on support for wealth management firms, product providers, and distribution platforms - is to share a point in time snapshot of how financial advisors are responding to the challenges posed by the coronavirus. “How Financial Advisors Are Responding to the Challenge of the Coronavirus” examines a variety of topics including how advisors are engaging with clients, the sources they are relying on to navigate through this unpredictable environment, and their needs for additional support. The report breaks out data and findings for the entire sample and for key advisor channels – Wirehouse/Regional employer based broker dealers (Full Service), Independent broker dealers, and RIAs (not affiliated with a broker dealer). For a complimentary copy of the report, go to the In-Depth Reports tab and download the document. Among the key questions addressed in this report are:
This report is based on input from a randomly selected cross-section of advisors spanning key channels. From April 2 to April 8, 2020, advisors were asked to participate in a proprietary online survey regarding their response to the coronavirus. More than 525 advisors provided confidential responses that form the basis for this report. Advisors did not receive any compensation for participation in the survey. A breakout of respondents by key characteristics is as follows:
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List of Reports by Date Published
June 2020
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