These are challenging times – but we’re here to give you the help you need to get through it.
Like many financial advisers, you’re probably trying to work out how to best manage the significant impact the Coronavirus is having on your business, your employees and your clients. We’re only at the start of what could be a prolonged period of market volatility, economic instability and complete disruption of life as we know it.
As a business owner, you might be feeling concerned about how you can look after the needs of your employees and clients, while ensuring that your business stays profitable and productive. We understand how much the current crisis is affecting small businesses like advice practices – and how important it is to keep them running effectively until this is over. That’s why we want you to know that we’re here to support you through this challenging period.
Looking after the wellbeing of your clients and employees
Your immediate concern is likely to be for your family and friends. However, from a business perspective your employees and clients will be looking to you for leadership and guidance. Right now, you’re probably receiving a lot of questions for which you might not yet have the answers.
Your clients will be grappling with potential health impacts and adjusting to new ways of working, communicating and socialising. They’re likely to be facing a wide range of different issues, such as:
- anxiety about market volatility diminishing their retirement savings
- dwindling or halted cash flow for small business owners
- suddenly losing their jobs and needing to adapt quickly to the change in their financial situation
- trying to work out whether they’re eligible for government assistance.
Your employees may be dealing with the challenges of working from a home environment for the first time. At the same time, they may be experiencing stress as they consider how they and their loved ones could be affected by the Coronavirus, both in terms of health and finances. They’ll need to learn how to:
- collaborate with colleagues and clients in a different way
- use new technology tools and access systems remotely
- remain productive while keeping up with the demands of their families or flatmates.
As the Coronavirus crisis continues to unfold, it will more than likely bring up even more issues. Your clients and your employees will need more support than ever before – and you also need to ensure that you’re looking after your own needs and wellbeing.
How we can help
Our goal is to help you and your employees remain productive and positive, and equip you with all the tools you need to guide your clients through this difficult period. Here you’ll find insights and tips to help you adjust to the new regime – from making the most of technology and managing remote teams to providing guidance to clients who have been hardest hit by the changes.
Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468 (Colonial First State) is the issuer of super, pension and investment products. This is based on the understanding of current regulatory requirements and laws as at April 2020. While all care has been taken in the preparation of this document (using sources believed to be reliable and accurate), to the maximum extent permitted by law, no person including Colonial First State or any member of the Commonwealth Bank Group of companies, accepts responsibility for any loss suffered by any person arising from reliance on this information. This information is for the adviser only and should not be handed on to any investor. This information should only be treated as educational and not taken as any form of advice including but not limited to financial, business, or marketing. Seek professional advice when necessary. It does not take into account any person’s individual objectives, financial situation or needs. You should read the relevant Product Disclosure Statement (PDS) and Financial Services Guide (FSG) before making any recommendations to a client. Clients should read the PDS and FSG before making an investment decision and consider talking to a financial adviser. The PDS and FSG can be obtained from colonialfirststate.com.au or by calling 13 18 36.