How often do you find yourself saying something for the hundredth time? How could you deliver that message in a personal way but invest the time in other productive activities? Client videos may be the solution.
All advisors have messages that need communicated to multiple clients. Some are timely updates related to current events. Others are more logistical, providing instruction on planning or transaction specifics. In many cases, you can save a lot of time by recording a message once and distributing it either to many clients at one time or individually as the situation requires.
This year’s market volatility makes it even more important for the client to hear from their advisor. Rather than multiple phone calls or conversations in appointments, a quick video projecting your perspective can reassure them with a smaller investment of time. You might even use it to introduce material from a trusted source.
For example, you might record an evergreen message on how turbulent times in the markets may be short-lived. When we experience a specific episode of international volatility, I can distribute that message with a good piece from Vanguard on geopolitical sell-offs. The analysis is prepared by a third party and the personalized introduction was easy and quick for me to produce.
Providing these personal messages helps answer the unasked questions. Better they hear it from you than Googling it. It helps underscore your role as the financial consultant, even if the message is accompanied by third-party information.
Similarly, the message might be subject specific rather than time specific. I might record a message on how doing Roth conversions during down markets is something of a silver lining and distribute it whenever there is market volatility.
Other messages may be specific to particular processes or steps in the planning process. When staff calls out to schedule an appointment, a video can also be sent on the rationale for the meeting. It provides a message directly from the advisor describing what the meeting is about, why this step makes sense, and reinforces the client’s commitment to move forward. I like to include an action step rather than just providing basic information. It can save time compared to providing repetitive explanations and can reduce the frequency of clients calling in with questions prior to appointments.
Sometimes, the communications can simply be fun. Like providing your perspective on a sports bracket or a bit of trivia like a “Tidbit Tuesday.”
You may record most of these messages, but if you have team members who are comfortable in front of the camera, they can help show the firm’s bench strength and reinforce their roles as well. Assistants might record videos on how to complete specific paperwork or access the client website. You can build a library of instructional videos to distribute as the situation demands. Featuring staff can help signal to the clients to ask questions of the appropriate team member rather than wanting to speak to you about administrative matters.
One of the biggest challenges in scaling a business is that there is just not enough time to conduct all of the conversations individually. Video can effectively multiply efforts to provide personalized communications on a broad basis. Our clients need to hear from their advisor, and any way we can make that happen is worth our consideration.
Susan Sukys, CFP® is Lead Financial Advisor for TAG Wealth, the wealth management and financial planning arm of TAG Advisors. In addition to her time spent with clients, Susan spearheads TAG Advisors’ Women & Diversity Initiative, focused on increasing diversity and female inclusion in the financial services industry.
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