The 5-Star Advisor speaks up on unexpected wins from pandemic lockdowns and the benefits of holding the line amid downturns
During the first impact of the Covid-19 epidemic, many advisors would not have imagined that the lack of in-person meetings would give way to a more convenient mode of communication with clients. That includes David Little, who now appreciates the benefits of the digital transition at his practice.
“In hindsight, communicating with clients has been much easier compared to the past,” the senior investment advisor at Blue Oceans Private Wealth with iA Private Wealth, told Wealth Professional in an interview. “Clients have been cooped up at home, and what better way to kill the boredom than call your investment advisor?”
To view Little’s full interview with Wealth Professional, presented in an interactive digital content format, click here.
Little, who is among Wealth Professional’s 2022 5-Star Advisors in Eastern Canada and Ontario, says that call-ins to the firm have grown more than tenfold throughout the course of the crisis as clients chose digital communication options – some for the first time.
Many of his remote interactions have centered on reassuring clients during times of uncertainty, with the situation in Ukraine being the most recent source of concern. However, he believes that when COVID limits are lifted in the coming years, businesses would profit handsomely, and embracing that opportunity will require confidence in the face of instability – similar to what he practiced during the outbreak’s worst months.
“At one point in the pandemic, the global price of oil dropped to -$16 a barrel, and we knew that was crazy,” he says. “We entered the market and bought oil and gas stocks, ETFs, and investment funds. By the summer of 2021, demand had roared back, and we’ve had an incredible run on returns for our clients on that trade.”
Diversification has been on everyone's mind as the fear of inflation and rising interest rates has become more prominent. Alternative investments are gaining traction, and private equity investments via ETFs, investment funds, and private placements have gotten a lot of attention. However, Little says he is aware that private market investing isn’t without its hazards.
“As long as we can get the analysis that is needed to ensure our clients are protected from such losses, I would think that this space is the next big thing in the investment industry,” he says.
To view Little’s full interview with Wealth Professional, presented in an interactive digital content format, click here.
