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Brokers, advisers need to be quick in returning post-hurricane calls, state regulator says

Nov 01 2012 Ted Knutson, Compliance Complete

"It is important for broker-dealers and investment advisers to return calls quickly that might have piled up in the wake of Hurricane Sandy, but those calls do not have to address customers’ questions thoroughly immediately,” two-time former North American Securities Administrators Association President Joe Borg told Thomson Reuters Wednesday. “A quick call is better than none. People are happy to hear: 'I can’t talk to you now, but I will get back to you tomorrow,'” the Alabama Securities Commissioner said. He added returning calls speedily is important because when they are not the delay can lead clients to complain and can hurt business because satisfied customers are the best source of referrals. The calls that should be returned, said Borg, are those dealing with emergency funds and trades. “That’s really critical,” the regulator said. "Calls that can wait are ones dealing with long term, mundane issues,” he explained. Having a long talk about allocating a customer’s

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