As RIA custodians adjust their operations in light of the spread of the coronavirus and the related market and economic fallout, most are having staff work remotely.
"We have more than 95% of our client experience team working remotely," said a spokesperson for Fidelity Institutional.
Fidelity adds that this client experience team, which works with RIAs and other firms, first put a "remote work protocol" in place in 2018. It did so "in response to our associates' desire for flexibility, but we have implemented it as a business continuity tool for situations like weather emergencies, including hurricanes and snowstorms."
The firm also says it is ready to "shift as needed and … to implement additional strategies such as off-shifting, and reallocating technology to support our most critical and customer-facing processes."