COVID-19 is bringing much change and uncertainty to the world and it’s important to find calm amid the chaos. No one can control market volatility, with fear being a major influencer on the fluctuations, though investment principles have not changed. In this episode, Susan Tillery, CPA/PFS, chair of the PFP Executive Committee, and Dave Stolz, CPA/PFS, chair of the PFS Credential Committee, share how they are putting their clients first – and in doing that, reinforcing the value of the CPA financial planner. They address the following questions:
- How are your clients reacting and what are you saying to them
- What assurances can you give your clients about the market outlook and their financial plan?
- How do you interact with a particularly nervous client, family member or friend?
- What can CPAs do to lead and be a source of calm in this time of uncertainty?
- How do you take care of you so that you are your best for your clients and family?
- What are some ways that you can help others in your community?
Access the related resources from this podcast:
- Podcast recorded at the close of markets Friday, 2/28
- Sample client message written by Sue Stevens, CPA/PFS
- Journal of Accountancy article on calming clients’ fears during this time
- Journal of Accountancy article on business planning
- The AICPA coronavirus resource center
- Broadridge advisor alert compiles all materials on helping clients during market volatility
- Broadridge client alert encourages investors to put market turbulence into perspective
- Broadridge client alert looks at Coronavirus and the global economy
- Perspective in the Panic and Pandemic Perspectives client letters
The episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice and by the CPA/PFS Credential program which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online at www.aicpa.org/pfp to join our community and gain access to valuable member-only benefits.
Date of event: 3/19/2020