Readers had service on the mind in 2020, as COVID-19 wrecked the economy and made face-to-face service next to impossible.
The most-read stories at Advisor News reflected that service anxiety. Here are the top five most read stories for 2020:
Changes To Social Security You Need To Know For 2020
This story focused on Social Security changes for 2020, changes that affect an estimated 61 million people who collect benefits. For many it is the only source of retirement income.
Changes to the Social Security Administration pension program are an annual event and 2020 was no different. Some changes are due to formulas, while others are part of the legislative framework underpinning Social Security.
When Your Clients Are Freaking Out — How Advisors Respond
Is it the trumpet of the Black Swan? That’s basically what clients were asking advisors in February as markets plunged in a white-knuckle slide uncomfortably reminiscent of 2008.
Calls from clients picked up as advisors counseled them to hold steady and remember their long-range plans, Financial Planning Association members said.
Some sent email messages to clients as the markets started to crash as a preemptive measure, which apparently soothed some. Advisors who sent them seemed to have fewer calls.
But it was quite apparent that many clients were anxious as headlines blared the worst plummet of the indexes since 2008.
3 Ways RIAs Are Inhibiting Their Own Growth
The market carried so many advisors and RIAs who are reporting growth, but when you remove the market from the equation, that growth disappears, guest writer Jamie Hopkins noted in this January piece.
Additionally, technology, framework and processes are starting to become dated in many RIAs.
In short, advisors have been coasting for a while on a bull market and a dearth of real competition and disruption. When the market turns and the competition gets real, many RIAs are going to find staying in the race to be near impossible due to three major factors holding them back.
What Your Attire Says About You As An Advisor
Across the financial planning profession opinions varied greatly in this story about what is appropriate attire for meeting with clients, attending conferences with their peers and leaving their own personal mark on their style.
J.P. Morgan and Goldman Sachs are among the firms that updated their dress codes calling for business casual. But what about advisors in the field? Was business casual already the norm? Largely yes, but not exactly, according to some advisors. “Business casual” means different things to different people.
AdvisorNews asked a varied group of advisors for their thoughts on attire.
‘Emerging Benefits’ Is The Next Workplace Trend
Workers said stress over their personal finances hampered their productivity on the job in this story. Employers said they were challenged with attracting and retaining workers.
Both groups were looking to a trend in voluntary benefits as a way to help them overcome the challenges they faced as the world of work continues to evolve.
MetLife’s 17th annual U.S. Employee Benefit Trends Study showed a greater interest in workplace benefits that go beyond the traditional medical, dental and vision insurance. These newer benefits are described as “emerging benefits.”
They include everything from help with paying student debt to subsidies for egg freezing or gender reassignment support to financial counseling. Fifty-eight percent of workers said having nontraditional benefits would reduce their stress.
InsuranceNewsNet Senior Editor John Hilton has covered business and other beats in more than 20 years of daily journalism. John may be reached at firstname.lastname@example.org. Follow him on Twitter @INNJohnH.
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