Perspectives in a Pandemic
Back in March, we asked leaders of independent broker- dealers what they were most worried about. Working from home had just started; it wasn’t yet clear that we’dbe doing this for months on end.
Most BD executives said the coronavirus was the maincause of market volatility and likely will have a major impacton the 2020 elections, as will the associated economic fallout.Their firms had begun to cancel meetings and put new policiesin place around social distancing.
Now, just two monthslater, the novelty of doingbusiness from home is nomore, and the complexi-ties of remotely managingsome operations in thefinancial-services world(like recruiting) remain.Regulation Best Interest’scompliance date is abouta month away (June 30),and summer vacationplans are fuzzy at best.
Closer to “home,” ahighly valued team member is set to retire, including fromthis publication, though we hope he’ll find a way to “dropin” with some words of wisdom now and then: Pershing’sMark Tibergien, who’s been a columnist for InvestmentAdvisor since early 2003.
Like you and others in the industry, we certainly will misshim. The executive’s latest advice on how to best help clientsand your business today is included in his “exit interview” andtribute piece.
Unfortunately, we had to trim some of Mark’s remarks,
like this one about the COVID-19: “I think of the poor souls
who are losing their jobs, their health insurance and their
loved ones, those are the individuals I worry about.” He also
explained how, during a past recession, he went without pay
to keep staff secure and the lights on at the firm.
Like others, I’m going to miss these sincere perspectives.
With the busy lives we lead, it often seems tough to take the
time to really explore someone’s past and the lessons they’ve
learned. I’m grateful that Mark let me have that opportunity.
Speaking with himreminded me that in ourrelationships with colleagues, clients, friendsand family, there’s tremendous value in slowingdown and really listening, asking hard questions(when appropriate) andthen moving on to findcommon ground and away to overcome the challenges we face.
Thanks for diving deepinto the advisory world on these pages, Mark. Here’s to ahappy and healthy “retirement,” aka the next chapter of youroh-so-interesting life.
A highly valued team member is
By Janet Levaux
set to retire from this publication:
Pershing’s Mark Tibergien, who’s
been a columnist for Investment
Advisor since early 2003. Like
you and others in the industry, we
certainly will miss him.