Business Insights: The Importance of Being Proactive

These months have been difficult for everyone. What we have to realize is that nobody has been unaffected by this pandemic. Everyone says they have never been through something like this. Unless you are over 100 years old and witnessed the Spanish Flu, this is a very true statement.

 

During this crisis we have been much more proactive. I wrote an article many years ago during the 2008 crisis and told advisors that the number one thing that you have to do when the markets are volatile is answer your phone.

 

Like a lot of the elite advisors, we hit the phones and had either phone conversations or Zoom meetings all day long. In March, we were averaging approximately 35 appointments a week. April was close to the same. My assistants were leaving messages and we sent a few emails to our entire book discussing what was going on with the markets.

 

It was a group effort, and if it were not for surrounding myself with an excellent staff, I would never have been able to reach and help calm so many people. It also never hurts to know other great advisors. Josh Decker and I talked a lot and he helped calm me down! I owe him. Great friend!

 

Besides all the meetings, I decided I am not the guru on stress. With the help of NTSA, I learned about the WOW program thru Janus funds. I called them and told them I wanted to do a seminar for my retired and top clients on stress during the pandemic. We picked a topic, invited the guests for an online seminar and told everyone who wanted to attend we would deliver a pizza to their house to eat during the seminar. They chose their favorite pizza parlor and I had to contact over 40 different pizza joints to deliver a half hour before the seminar began. (Still can’t believe my credit card company didn’t call me to tell me I was hacked!) The seminar was a success. We got so many great responses and I am planning my next event. 

 

You do have to walk the walk too. People are hurting out there. My family had started selecting a charity of the month to help before COVID. I am married with two daughters; each person is assigned a month and we rotate. Since the start of COVID, our family has doubled our efforts. We have increased our contributions between food shelves, world kitchen, minority organizations etc. Very proud of my kids, who help teach me. We will continue to do this, as we all should realize how fortunate we are working in a field in which we can help people every day and also make a good living. 

 

 

 

 

The NTSA Elite Advisor Awards focus on NTSA financial advisors' innovative, unique, profound and successful best practices for advocacy, leadership, practice management and legacy. Nominations are open through Sept. 11 for the NTSA 2021 Elite Advisor Awards here. Full terms and conditions are here.

 

 

David Wolfe was featured in the 15th WOWcast Series.

 

In Segment I, NTSA Past President Randy Aranowitz and Wolfe discuss Wolfe’s business background.

 

In Segment II, Aranowitz and Wolfe discuss Wolfe’s business model and marketing leads.

 

In Segment III, Aranowitz and Wolfe discuss volunteerism and what the NTSA means to Wolfe.