Advisor Group, a network of independent wealth management firms, has expanded its coronavirus response resource center, a platform of services that helps financial professionals manage their businesses during the current COVID-19 pandemic and ensuing market disruption.
Due to the widespread nature of the pandemic, Advisor Group is making many of the features of its coronavirus response resource center available to all financial professionals across the industry.
The company said that the most recent expansion includes a new digital peer-to-peer best practices sharing platform. The coronavirus response resource center first launched in March, and includes weekly market and economic analysis reports for financial professionals and their clients; interactive conference calls for financial professionals and recorded market updates for clients; customizable client-communications content; guidance on remote-work technology and processes; and access to consultants who can help advisors navigate the CARES Act while helping with small business loans, succession and continuity planning.
“The COVID-19 pandemic has dramatically altered how people live, work and interact with others throughout the world, with a heavy impact on our economy, employment and the markets,” said Jamie Price, CEO of Advisor Group. “Individuals, families and business owners want guidance on how to financially navigate these unprecedented conditions and assurance that they have the right plan in place to weather the storm.”
Advisor Group’s nine wealth management firms include FSC Securities, Investacorp, KMS Financial Services, Royal Alliance Associates, SagePoint Financial, Securities America, Securities Services Network, Triad Advisors and Woodbury Financial Services.
The coronavirus response resource center includes the following elements:
“Hear from Your Peers” Platform: A YouTube-like online portal that allows financial professionals and their teams from across the network to view and share videos they create about best practices and ideas for running their businesses during the pandemic, all organized by categories.
Virtual Conferencing Guidance: Step-by-step instructions and recommendations on how financial professionals can hold digital screen-sharing meetings and web conferences from remote locations with their teams and clients, including how to download the proper versions of trusted third-party software and which settings to use.
Weekly Market and Economic Updates: A weekly briefing report available to all Advisor Group financial professionals and their clients, providing insights and analysis on the markets and economy as conditions evolve amid the pandemic and delivered by Philip Blancato, president and chief executive officer of Ladenburg Thalmann Asset Management.
Customizable Client Communications: Financial professionals have access to pre-approved emails, social media posts, brochures and other communications materials that are ready for sharing with clients on a range of COVID-19-related topics, such as the CARES Act, warnings about online scams, and stock-market volatility. The MyCMO multi-channel platform also allows affiliated financial professionals to send personalized COVID-19-related communications to clients and prospects.
In a related move, Advisor Group also launched its new crisis advisory council, a group of financial professionals affiliated with each of Advisor Group’s wealth management firms. The company said that the council will gather feedback from its affiliated financial professionals and facilitate dialogue among home-office leaders and financial professionals on how it can deliver additional support and resources to address the pandemic.
Advisor Group has also raised the mobile check deposit limit for clients to $100,000 in conjunction with Pershing and NFS and is providing updates from FINRA and the SEC in response to COVID-19 regarding operations, cybersecurity, BCPs, examinations and more.
Advisor Group is the nation’s largest network of independent wealth management firms, serving approximately 11,000 financial professionals and overseeing more than $450 billion in client assets.