How to Build a Client Experience that Makes Your Job Easier
More than 300,000 people are currently classified as “personal financial advisors” in the US, and that number will likely surpass 400,000 within a couple years. It can be hard to stand out in such a large (and rapidly growing) crowd.
To capture attention, independent advisors rely on a veritable alphabet soup of certifications in addition to identifiers like “fiduciary” and “fee-based,” but for our money, the top differentiating factor we see advisors wielding successfully comes down to one thing:
Client experience.
But putting together the right client experience is about more than just picking what delights your clients—it has to serve both you and your firm. If you build an incredible experience that takes up all your time, inevitably you will suffer as you add clients.
Today, we’ll look at the three core elements that can help you create a client experience that serves your firm, improves client relationships, and makes your job easier at the same time.
1. Great Technology = Easier Access
Are there any sticky points in how your clients access their plans and accounts? Do they have to go through you (or someone at your office) to retrieve any information? If so, then those are potential frustration points.
Along those same lines, look into how you can allow your clients to schedule meetings with you on-demand.
We love how Clarity Wealth Development has a contact button for existing clients on their website that connects to each advisor’s Calendly account.
Invest in email software that lets you automate communication with your clients. When it’s time to deliver a quarterly report or plan update or a meeting reminder, you can have those emails fire automatically rather than managing them all manually.
2. Remote Options = Greater Flexibility
The pandemic made virtual client meetings essentially standard practice at every firm across the country. Now that lockdowns are (hopefully) a thing of the past, it’s a great time to tweak your procedures for client meetings to allow virtual or in-person options based on personal preferences.
New research shows that more and more clients want and expect video calls. It’s easy to understand why.
Virtual meetings save clients the time of commuting, and they also save you time in prepping your office for client visits so you can focus on serving their financial needs.
Of course, you will still have clients that prefer the in-person experience (and you may too), so it’s important that you offer both.
When you’re setting up your automated communications as we mentioned in the previous step, consider including a question in your meeting reminders asking whether the client would prefer to meet in-person or virtually.
If they choose virtually, send them a Zoom link and you’re good to go!
3. Frequent Communication = Clearer Expectations
People love being informed and knowing what to expect. The most important part of creating a delightful client experience is establishing clear expectations.
Leave nothing to the imagination: Tell them how you prefer they communicate with you, what their options are, and how to access all their necessary financial information. Even better, give them a personalized welcome packet with all of that information in it so you can review it with them upfront and they can refer back to it on their own.
The best client experience—the one that builds the most trust—is one where clients know what they should expect, and then you deliver on it. For this reason, it’s important that you come back and reiterate your communication expectations time and again.