Advisors Face Client Confusion About Crypto, Meme Stocks

Forty-one percent saw the greatest opportunities over the next six months in equities, 25% in large-cap value and 20% in emerging markets. 

At the time of the survey, more than three-quarters of advisors were fully or partially vaccinated, 10% planned to be vaccinated and 12% said they would not be vaccinated. 

Survey participants were almost equally divided on whether they would or would not require their staff to be vaccinated, or were unsure. Another 31% said they would fully reopen their office once their team was vaccinated. 

Six in 10 advisors said they would inform clients about their firm's vaccination status. Forty percent said they would encourage clients and prospects to meet in person once they are fully vaccinated, and 37% said they would consider being fully vaccinated a competitive advantage. 

Fifty-three percent of surveyed advisors said they were back to a normal, in-office schedule, up from 42% in December. Just 13% said they would not have their team fully back in the office in 2021. 

In terms of client meetings, 26% reported that they were currently having in-person meetings with clients, up from just 12% in December, while 46% planned to wait until the second half and 21% said they would likely start in-person meetings in 2022. 

Two-thirds said prospecting and selling can be done effectively via virtual meetings. So far, 27% of advisors had held more than 10 virtual prospecting meetings this year, 49% had hosted between one and 10 and 24% said they had not hosted a virtual meeting. 

"Working virtually, we learned invaluable lessons about client communications; about being flexible, accessible, and responsive," Mee said. "The industry will take these lessons into the future and transform how it creates the client experience, and investors everywhere will benefit."