The Changing World of Financial Advice

Author: Jim Eckel | | No Comments

How our advisor world has changed these past several months!

The industry norm of face-to-face meetings has been radically changed so now more than ever instilling trust and transparency with clients could not be of more importance than it is today.

The concept of virtual advice is now making great strides due to the increased acceptance by clients in receiving financial advice online – without respect to location. Mckinsey Consultancy group estimates that between 20-30% advisor clients are comfortable with the virtual advice model. Financial Advisors that are utilizing online platforms to build credibility and trust recognize that the more trust you can build online, the better chance of turning that lead into a valued long-term client.

A great way to start building a powerful online presence is to begin posting personal and business information to your social media accounts. Close to 80% of consumers’ purchases are impacted by a business’s social media posts.Here are some rules of thumb for your social media accounts:

Keep everything current! This includes your Linkedin, Facebook, Google My Business, Twitter, and business and personal websites.

Make yourself easy to contact! Provide prospective clients multiple ways of getting a hold of you such as e-mail address, phone and text numbers, and instant messaging.      
Be real! Present truthfulness and authenticity on your social media sites – anything less is quickly discovered with attendant negative consequences.

An advisor marketing platform should understand that technology is the key to gaining new clients and will actively promote the members of the platform to achieve the best possible results. Additionally, it stands to reason, that platforms with key industry names would be better suited in attracting consumers to your profile.

So in these rapidly changing times investment advisors and tax/accounting professionals should seek an effective way to best highlight their credentials, experience, and expertise with an independent advisor marketing company – a company that possesses digital marketing expertise and has their best interests in mind.

Video conferencing has exploded as a viable alternative to meeting face-to-face. Zoom has increased to over 265,000 customers since the pandemic started with over 300 million daily participants. This is up from only 10 million participants in December. Tools like Zoom will make it increasingly easier for advisors to keep in touch with their clients at a minimal cost. Once more, the convenience and affordability of these video conferencing platforms will continue to be a very effective way for advisors to communicate with their clients long after the pandemic has passed.

So the means for attracting clients and maintaining your communication with them is getting more efficient as time goes by. However, if you feel your time would be better spent working with clients instead of exploring the wonderful world of digital marketing, many DM companies would love to relieve you of that responsibility and show off their marketing chops. This might be a better option if the intricacies of mastering social media platforms and website development are not of interest to you. It would be money well spent to free up time for you to concentrate on working on your business and keeping clients satisfied.

Yes, the advisor world is changing. New and creative marketing solutions are emerging regularly to help you embrace these changes and increase your business potential. The best is yet to come!                 


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