YouSaid · the spoken record

Penny Pennington

lines on the record
58
first
2020-11-13
most recent
2020-11-13
sittings or episodes
1
sources
podcast

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  1. “To hand with their client just passin' back and forth good energy, thank you for being there we know you're there for us. And words didn't have to have to go back and forth. Papers didn't have to go back and forth. That was not the ethos that was being expressed. It was a convergence of love, of taking care of each other, of being in it together, of knowing why we're here, and that is to relieve the anxiety of our clients and keep them focused on the long term.”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “Their well being has meant to us is that we're doing something bigger than ourselves, despite our own personal anxiety, all of us have had to deal with all kinds of disruptions in our own lives, but we get out of bed every morning thinking about our clients and helping them reduce the anxiety in their lives. I'll tell you a real quick story, and it really is an image sent to me back the beginning of April from a branch in Florida where the branches were closed to the public, but our financial advisors and BOAs are in the branch. And the image that was sent to me was a client standing outside the branch with their hand pressed up against the window of the branch. And one of our Edward Jones colleagues on the other side of that window handed”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “Well, I believe and I've got evidence that proves that our clients and our prospective clients have seen those lights on and recognized that we are purpose driven to be there for their well-being. What has been going on with clients and investors, the anxiety that this pandemic, the economic downturn and the social unrest have caused across our communities. That anxiety has impacted clients and investors. It's also impacted every single one of us who serves them. And so we've been going through the same things that they have, but what being in the branch is, what being on the job at work for their benefit, for”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Absolutely. Most of our branches, we have two to three people in the branch. So they are by their nature safe places. Our colleagues could be distanced from each other. And we were deemed an essential services. So because of that, even during state by state lockdown, and boy, I remember the night that we got the news that Pennsylvania was locking down. So, while every single one of our branches has remained open, our colleagues can work flexibly and through all kinds of virtual means like Zoom and Skype and WebEx with clients, investors and prospects and with each other.”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Our financial advisors and our branch office administrators are client service professionals, they have been in the branch the whole time. Our branches are very safe, and we close them to the public. So we've been meeting with clients, investors and prospects by Zoom and virtual means. But the financial advisors are in our branches. And that really has helped. It's been a centering mechanism for them and a way that's kept us all together.”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “However, the anxiety in the marketplace is still there, and anxiety for investors sometimes means that they question the way their portfolios are built. They become more risk averse and very importantly, they turn to a financial advisor to help them make sense of all of that. So that was a common feature of 0809 for investors and how they responded. The common feature for us and our financial advisors and how we respond is to keep people focused on their long-term goals and help relieve as much as we can the anxiety that people are facing with market volatility. But this time with things like health crisis, loss of jobs, their kids and grandkids who are going through significant Changes in their lives”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Public got a reminder of what significant volatility and a deep reduction in the stock market felt like. And it took 10 years to rebuild from that. The difference with the effects of what I've called a triple pandemic over the past eight months or so is that the ignition switch had nothing to do with the economy or the financial markets. It was a health crisis that was the ignition switch for a period of market volatility that was actually pretty short in February and March. We have had some more recent market volatility and we expect that that will continue. But the markets for a lot of reasons that we could talk about, the markets actually recovered pretty significantly.”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “Yeah. Well, as it relates to clients and what they were experiencing, if you go back to 0 to 0809, the catalyst for the ignition switch for that market volatility, what happened in the global markets was a financial ignition switch. It was a meltdown in certain aspects of the financial markets. And as a result, the stock market, as we certainly remember, did a deep dive and remained deep and volatile for some period of time, while the financial markets were to some degree rebuilt. Regulation was a part of that. New entrants and new partnerships among financial services companies were part of that.”

    2020-11-13 · Masters in Business · Penny Pennington on Wealth Management (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source