Every financial advisor knows how important it is to establish meaningful relationships with their clients. Happy clients mean well-established, long-term revenue and an overall healthy business. Crafting these strong client-advisor relationships requires trust, transparency, and above all, effective communication. To get your relationship off on the right foot, consider these communication strategies for financial advisors.
Set the tone from the beginning
The onboarding process is where advisors and clients establish mutual expectations. During this time, it’s important that you, as the advisor, set the tone for the communication strategy from the very beginning. This means determining how often, via what channel, and about which matters the client wants you to communicate with them about. When you create mutual expectations, communication becomes easier.
Meet them where they want to be met
Maintaining conversations with your clients means reaching them where they want to be met. Whether that’s through in-person meetings, phone calls, texts, or emails, it’s important that an advisor knows how to get in touch with their client. Looking at it from both ends of the spectrum, you may have some “baby boomer” clients who may prefer to come in every Thursday at 1 p.m. for an in-person meeting. On the other end, you may have a millenial client who wants to be notified and updated in real-time via text message. Whichever communication method they prefer, make sure you’re equipped, willing, and ready to meet them in their preferred channel.
Personalize your interactions
Your clients are more than just a business interaction. They’re the heart and soul of your business. Try making your interactions with them a little more personal. Ask them about their goals, passions, and interests. Not only will this help your relationship and communication efforts, it’ll also help you dive deeper into what you can do to better serve them.
Leverage Benjamin’s capabilities
Finding a communication strategy that works for both you and your clients can be tough, especially if you’re working with a large client base. The good news is that there are technologies out there that automate client communication while still emphasizing the importance of the human aspect of the relationship – like Benjamin.
By leveraging AI assistant technology like Benjamin, you can:
- Intelligently communicate with clients via chat or text message.
- Receive custom alerts when a client’s portfolio goes above or below your present allocation.
- Schedule your meetings and send reminder texts to keep you up to date.
- Create dynamic lists that automatically add, remove, and send conversations to clients based on AUM, age, allocation, and more.