Develop a suitable communications strategy: Since the pandemic, a number of new methods have been used to communicate with clients, and as we continue to emerge from lockdowns, advisers will need to understand their clients’ preferences. These may be based on what the client finds more comfortable or convenient, or how they feel they can learn best. Whether providing relevant collateral or speaking frequently on the phone, it is important for the adviser to stay in touch, particularly in periods of uncertainty. 

While the role of the adviser is always important, it is never more so than when the client's world has been turned upside down and they are looking for someone to provide them with financial guidance. The pandemic has undoubtedly created such an environment, creating a wide spectrum of situations, with some clients wanting to retire sooner and others worrying that they may not be able to retire until much later.

Advisers have to understand these individual needs and work with their clients to adjust their portfolios accordingly.

Louis Williams is head of psychology & behavioural insights at Dynamic Planner