Financial planning while a storm is raging

“Toto, I’ve a feeling we’re not in Kansas any more”


Our president has recently announced a lockdown for 21 days to curb the spread of the Covid-19 disease. Globally people are dying, health systems are overwhelmed, and the markets are haemorrhaging. The economy is taking a beating. The entire world has changed in just 12 weeks.

People are scared, confused and vulnerable. We believe that this is your time to shine.

A call to financial leadership

There is so much wisdom in the beautiful words of Rudyard Kipling: “If you can keep your wits about you while all others are losing theirs and blaming you. The world will be yours and everything in it, what’s more, you’ll be a man, my son [or a woman, my daughter].”

Now is the time for financial leadership. Your clients need to hear the voice of reason, a voice of comfort and a voice of financial leadership. They need it from their financial advisor.

Digitally yours…

Nothing can replace the warmth and connection with a client in a face-to-face discussion over a cup of coffee. There is however a very good second prize.

In a video conference consultation, you can achieve as much. You might be surprised how productive a video consultation can be. People tend to focus on the task at hand.

There is no better time for life planning

Many of your clients may face a financial crisis. They may struggle:

  • To meet their debt repayment obligations;
  • To find financial capacity for the basics;
  • With a lack of liquidity.

“People are scared, confused and vulnerable. We believe that this is your time to shine.”

They will look to you for guidance. The best way to help clients is to have a goal-based financial planning conversation with clients.

  • Slow down and breathe. Accept the current reality.
  • Take stock. Taking back control starts with taking stock. Delve into the personal economy of the client. This means do a budget. Look at the debt the client is facing. Have the hard conversations. Help the clients to find capacity by optimising their budget. Look at alternative income streams. Look at ways to mitigate the current crisis. Set goals. Goals are about helping clients live the lives they want to live. It’s a look to the future. It brings hope. It offers the client something to look forward to.
  • Help the client to create their plan. The client’s plan is in the context of their financial life. A plan is just a piece of paper if there aren’t clearly defined actions from the plan. Help the client to generate actions from the plan. Assign checkpoints for the action items so that a client can track their own progress. Create quick victories and wins. This will motivate the client and fuels further achievement.
  • The plan must be a living plan. A plan is a process and never a single event. Measure and adjust as life happens.

We awaited your call

Avalon is a fourth-generation financial planning platform that was designed to facilitate co-creation with a client. It offers co-creation, full scenario planning, life planning and it can model a client’s life.

Advice on Rails™ in Avalon was designed for this moment. Simple interfaces that leverage insane financial engineering. It makes conducting a video consultation so easy while providing an interesting experience for the client. You must see it to believe it – a real game changer!

Co-creation is a multiplier

Kobus Barnard, CEO of Allegiance Consulting

It must never be your plan; it must be the client’s plan. If the client co-created their plan, they are much more likely to stick to the plan.

This is not the end

The challenges we are facing are temporary. It is going to be tough, but there will be a sunset on this too. It’s a time to help clients to become mindful, to think about their futures, and to plan.

For now, use this time to be still, to reflect and to be kind to each other.