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Staying in touch with your clients in a digital world

1 June 2021
4 minute read

By Kobus Wentzel

I have yet to find research that says you will retain clients if you don’t connect with them regularly. Yes, even millennials want to know they are not just a number you briefly connected with years ago!

What there is research on, is how much value a financial adviser adds. A Wells Fargo study found that clients with a financial plan had 60% more assets than those without a plan. Clients who are regularly advised by financial advisers have a much better chance of reaching their financial goals.

Of course, financial advisers who are authorised financial services providers or representatives must keep in regular contact with clients they advise to make sure their financial products still meet their financial needs. This is a requirement of the FAIS General Code of Conduct, in addition to being good business practice.

Staying in touch regularly with your clients is easy with Vantage, 1Life’s digital solution for financial advisers, and 1Plan, 1Life’s unique FNA. You can connect with your clients remotely, review their needs and update their financial products to meet these needs.  

1Plan from 1Life makes annual reviews…
Quick and easy
1Plan is an FNA with five questions. 1Life believes you need to spend most of your time advising and connecting with your clients, so we used the best digital innovations and designed an FNA that is simple, quick and effective.

Personal and relevant
1Plan is unique in that it takes a client’s life stage into account. This adds enormous value to clients whose lives are changing, perhaps from singles to couples with children, or couples with children who are leaving home. An annual review really is a time to personally connect because you are finding out where your client is in life, and how their needs may have changed.

Less admin intensive
What irritates you most in your practice? Often, I hear it’s the amount of time taken up with admin matters that leaves less time for getting to know your client and advising them. Not only is 1Plan easy and relevant, but there is also a built-in record of advice to ensure your records are compliant and up to date. The Record of Advice is location, time and date stamped so you know exactly where you and your client were when the review was completed.

Learn more about Vantage and 1Plan.

Keeping the personal touch in a digital world
When you use the latest digital tools available, you have more time to spend getting to know and advising your clients. Even if you’re connecting digitally, the personal touch is always important and goes a long way towards building long-lasting relationships with clients. Here are some ideas for making your connections personal in a digital world.

Channels of choice
Find out how your clients would like to be contacted. Ask them which channels they prefer, such as phone call, video call, email, or WhatsApp, and use these to connect with them.

Then let your clients know how they can contact you. Send an SMS or WhatsApp with your contact details and update these when your contacts change.

How to keep the personal touch in a digital world

Be present
Your clients want to hear your voice on a phone call and/or see your face on a video call. Bulk emails are great – but they aren’t personal.

Really get to know your clients

  • Pay attention to and ask about what you see on video calls. Children, cats, dogs, a piece of art or photographs on the desk are great conversation points and offer personal insights into your client’s lives.
  • Ask your clients about personal interests like their hobbies and pastimes.
  • Ask your clients how they celebrate special days, and what those special days are, so you can send a voice note or digital card on special occasions. These might be birthdays or religious holidays.

Make a note of this information on a client file so you can ask your client about these topics in future conversations and reviews.

Send a newsletter
Regularly. This doesn’t have to be every week – there are only so many newsletters and emails we can read! We would recommend once a month. Talk about an aspect of personal finance you are passionate about; address the financial concerns you know many of your clients face and share important news and updates from the world of personal finance. Let your clients know in all communications that you are always available to chat through any concerns or questions they might have.

Get active on social media
Encourage your clients to follow you on Facebook or LinkedIn. Share important news with your clients, share the 1Life social media posts we provide, weigh in on trends and acknowledge important holidays and events.Your posts should be informative and useful but there is also room for light-hearted and heartfelt posts.

The digital world is here to stay
Digital isn’t an alternative way of doing business during the pandemic, it’s the way of doing business in the new world. And it’s our way of doing business at 1Life. We’ve been working on our digital solutions for years because we know we can work better, smarter, and faster when we use the best digital tools available like 1Plan and Vantage. Ultimately, they give you more time to spend with your clients so you can build personal relationships that last a lifetime.

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