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Beltway-area advisors are rocked by the snowstorms of the century

Financial advisors are out shoveling like crazy but web connections minimize setbacks

Author Elizabeth MacBride February 12, 2010 at 6:00 AM
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Fortigent LLC posted this photo for clients as a nod to the snow

Barry Glassman

Bill Winterberg

Bill Winterberg

February 12, 2010 — 3:35 PM

There should be no reason today for an advisor to need to go to an office to get work done.

Technology exists to allow advisors to conduct business from any location with a reasonably-priced laptop and a secure Internet connection. All core systems including portfolio accounting, CRM, document management, and financial planning should be available remotely. If anything, it allows for business continuity in the event the physical office is inaccessible.

All advisors should evaluate their technology infrastructure and prepare for events such as the blizzard of 2010. We’ve seen virtual office technology in use before during hurricanes, ice storms, earthquakes, and even outbreaks of H1N1 among employees.

Bill @ <a href="http://fppad.com">FPPad.com</a>

Elizabeth MacBride

Elizabeth MacBride

February 12, 2010 — 4:16 PM

In New York and Washington, D.C., the need for contingency planning is never far from anybody’s mind. The blizzards reminded me to revisit emergency plans. Among other things, I printed out my lists of important phone numbers. There’s nothing worse than feeling isolated a disaster, natural or otherwise.

Nancy Johnson Jones

Nancy Johnson Jones

February 12, 2010 — 4:22 PM

For many advisers on the east coast, this presented a “real life” test of your business continuity plan. Document what worked – and if something didn’t work as planned document it as well. That’s your test for the year. Add it to your compliance program annual review file, and you can check a very important (and often overlooked) item off of your to-do list! The regulators will love it!

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