Very often a problem can be solved within a minute if you pick up the phone and call your colleague, boss or client.
Typical discussion on the phone:
Alex: Hi Chris.
Chris: Hi Alex (Chris answers immediately because they are on the phone and he is not talking to anyone else at the same time).
Alex: How are you (Alex answers immediately because he is not talking to his boss.)
Chris: Good, thanks. And you?
Alex: Yeah, fine. A bit busy because of the new client.
Chris: I know, me too.
Alex: Listen, I don’t want to take too much of your time. I just have a quick question about the liquidation.
Chris: Sure, tell me, how can I help you?
Alex: I was wondering, what are the steps for the liquidation?
Chris: Well, it depends on what is provided for in the fund documents (meaning the prospectus and the articles of incorporation). Typically we need to draft a board resolution and a shareholder notice, and send both documents to the CSSF for approval. In the board resolution, the board can decide to suspend redemptions and to suspend the calculation of the NAV. That is not mandatory though – best is we discuss this all together over the phone. In any case they will need to make a provision as soon as possible for the liquidation costs in order to ensure fair treatment of the shareholders. (Christ does not ask what Alex means, because his question is clear).
Alex: I see. How long does this normally take? (Alex does not ask if they need anything else, because Chris gives a more detailed explanation than in the chat.)
Chris: Normally it take 1-2 weeks, but sometimes it takes a bit longer.
Alex: Ok, thanks. I will organise a call with the others to discuss whether we need to suspend the calculation of the NAV.
Chris: talk to you later.
Alex: Ciao.
This call takes 2 minutes and achieves its purpose. The positive side effect is that the two people had an actual conversation and the amount of information exchanged is more important in the telephone conversation. Still not convinced? For those of you who like numbers: Although during the call Alex and Chris exchanged 276 words and it takes them less time to come to a conclusion, than in the chat, where they uses 121 words. For those of you who care about soft skills, it should be obvious that you can convey much more emotion in a discussion than in a chat (and before you say anything – NO emoji are not nearly as effective).
Comments