Virtual Meetings Are Here to Stay

Committee and board members have spoken. Virtual meetings are here to stay.

Recent studies make clear that the vast majority of committee and board members expect many meetings going forward to be held virtually.

For instance, a recent survey from NEPC found 95% of their clients want to keep virtual meetings part of their regular meeting cycle.

Source: Meeting You Where You Are: Client Input About the Future of Meetings. NEPC. June 2021

Many of us have discovered that interactions we thought had to be in person can be effectively done virtually. In fact, much collaboration is done better virtually, reserving in-person meetings for specific relationship-building purposes.

There are numerous benefits virtual meetings provide that any of us who sit on boards know well:

  • Less costly
  • Avoid travel hassle
  • Easier to schedule
  • More efficient use of everyone’s time
  • Better attendance
  • Opportunity to include other participants
  • Easier to focus on digital materials

Now that we know we are not returning the full schedule of in-person meetings many of us have spent decades preparing for, traveling to and presenting at, investment professionals need to make sure their virtual meetings with investment committees and boards make as positive an impact as in-person meetings. By capitalizing on the benefits of virtual meetings, it’s possible they may even be more effective and productive for the advisor-client relationship.

Some virtual meeting best practices include:

  • Record the meeting so absent participants can ‘watch’ later
  • Invite other members of your team or experts who otherwise may not be able to attend in-person to participate
  • Keep meeting agenda and minutes attached to the invite so they are easily accessed before and after the meeting
  • Record client decisions at the meeting through a ballot that memorializes the outcome 
  • Provide presentations digitally so they can be accessed by each participant and shared onscreen
  • Send a post-meeting message to each participant to recap important discussion topics and follow up on questions
  • Ensure all meeting materials are securely stored and easily accessible

Are you equipped to run your virtual meetings, communicate with committee members, share documents, and help your clients make decisions without in-person meetings?

eVestech, the virtual communication hub built for advisors, offers a full suite of tools to make your virtual meetings with committees and boards run smoothly and effectively.

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