A summer of optimism for a return to in-person wealth management conferences is giving way to a fall of postponements, cancellations and disappointments as the Delta variant of COVID-19 continues to spread across the U.S.
The latest comes from Charles Schwab, which is cancelling a series of live receptions across 10 cities to kick off its annual IMPACT conference on Oct. 18. The event will carry on as a digital-only event launching on Oct. 19, according to a Schwab spokesperson.
“The decision was based on the current environment and on feedback from advisors and employees,” the Schwab spokesperson said in an email. “We are planning and hoping for an in-person event in Denver in 2022, likely also with a virtual component.”
The firm declined to answer additional questions. Schwab’s virtual conference will be free for invited attendees and registration opens Sept. 14.
Schwab’s decision follows several others in the wealth management industry. When the Technology Tools for Today (T3) conference decided in August to
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Companies are betting that pent-up demand for networking and other opportunities will help fill seats at events planned for later this year.
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Even as in-person events are becoming less likely, there are still ways to engage with your stakeholders.
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However, some companies believe the show must go on. Orion Advisor Solutions ended August with its first live event in two years, bringing 800 people together in Scottsdale, Arizona, and another 200 online,
Phone calls and video chats are great for people you already have a working relationship with, but it’s hard to establish a personal connection virtually, Beaman said.
“If you think about our business of financial services, we were so in-person before [the pandemic],” she said. “For those that felt comfortable and felt that they were OK to be in-person, it was really lovely. I personally enjoyed being together.”
As everyone has seen since the pandemic first began, things can change fast, and Beaman acknowledged that Orion was discussing whether or not to go forward with the live event up until a week prior. The company used the most up-to-date information available and was confident that the measures it had in place would create a safe environment for attendees, she said.
“Each organization needs to make a decision for the health and wellbeing of [conference attendees,” Beaman said. “Schwab is a great partner and they are making a decision that is appropriate for their organization. They’re going to put on a great virtual show.”
Financial Planning is still planning an
“We are really grateful that state and local guidance have given us a clear path to running a great Fearless Investing Summit,” said Riskalyze CEO Aaron Klein. “Demand is off the charts, and we’ve invested heavily to create a safe and comfortable experience for all attendees.”
