COVID-19 Financial Industry Responses (3)

Part
01
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Part
01

TD Ameritrade - Messaging Surrounding COVID-19


Ameritrade US is communicating to their customers through their CEO, Steve Boyle. His message is clear, factual, and helpful.

TD Ameritrade

  • TD Canada Trust, the Canadian bank has emailed their customers with basically the same message.


Part
02
of two
Part
02

Ellevest - Messaging Surrounding COVID-19

Ellevest does not have any messaging on its website home page. The only information from Ellevest is available in their online magazine and was written by Rachel Sanborn Lawrence, who is the Director of Advisory Services.

Ellevest

  • Rachel Sanborn Lawrence is the Director of Advisory Services at Ellevest.
  • On the Ellevest website, she has written an article in the bank's online magazine called Managing Your Financial Health During Coronavirus.
  • The article is an extremely practical advice piece for women.
  • In setting the stage for the advice, the author provides not only context but links to information from the World Health Organization and the New York Times about social containment and its expected length and implications.
  • The article then moves on to give women seven pieces of advice on financial management during the Covid-19 crisis.
  • The first two pieces of advice center on what a client could do if they do have emergency savings and what to do if they do not. The advice is practical and provides links to relevant resources, such as how to cut back on non-critical spending and a link to the CDC's recommendations on stocking up for a quarantine.
  • The third piece of advice is to think about refinancing existing loans. With the Fed dropping interest, it is a good time to look at refinancing.
  • Number four talks about finding "side gigs" that do not expose the person to others, jobs like "transcribing, proofreading, user testing or focus groups, at-home selling, or becoming a virtual assistant."
  • Because people never think about updating their resume until they need it, the fifth piece of advice was to not only update their resume but also to network. The advantage to networking is not only maintaining professional relationships but supports personal connection during a time of isolation.
  • The sixth suggestion given was to use the time for furthering education, if it can be done without student loans.
  • The seventh suggestion was to not check investments. The market goes up and down, but saving regularly is still the best advice.
  • And lastly, women were advised to wash their hands.

Sources
Sources