It goes without saying that being able to communicate properly is of utmost importance if you work as a financial advisor. In fact, good client communication should be the very basis of your business. Stellar communication skills are required to thrive, and when you lack a solid communication strategy, your clients may struggle to see you as a trusted expert.
Why Communication Matters
Communication and trust go hand-in-hand. For example, let’s say you have years of experience and extensive training as a financial advisor. Let’s also say you pay attention to details, you work well under pressure, and you have all the education and expertise needed to help your clients successfully secure their financial future.
No doubt, these are amazing attributes that come in handy when serving your clients. After all, you must have a firm understanding of the financial world in order to help your clients, but it’s how you exhibit that understanding that makes all the difference. Presentation is everything.
Simply knowing how to help your clients succeed is not enough. Trust comes when you portray that knowledge in a purposeful way through an effective communication strategy.
What does a well-thought-out communication strategy include? Consider incorporating these five techniques into your client communication to develop authority, create confidence, and prove that you are the right advisor for the job.
#1 – Frequent Communication
Each time you communicate with your client is an opportunity to showcase your value to your clients. How can your clients know how much you have to offer if you don’t speak with them?
You also need that continuous communication to discuss the ongoing game plan with your clients. Communication allows you to set and achieve goals. But more importantly, frequent check-ins allow you to learn about the individual needs and exact desires of your clients.
#2 – Personalized Communication
No client wants to feel like just another number amongst a long list of clients you manage. Take time to get to know your clients and make them feel like they matter.
Personalized communication often turns into a free marketing tool. As humans, we naturally love to share recommendations and pass on suggestions. If your clients think highly of you, they will pass on your contact information to their friends and family.
You want those word-of-mouth referrals. When you show through your actions that you truly care, clients will want to spread the word about your work.
#3 – Meaningful Communication
Meaningful communication occurs when you combine together the best elements of frequent communication and personalized communication. As the classic saying states, “Time is money.” Don’t waste the valuable time of your clients on financial advice that does not apply to their specific situation.
Be clear, be concise, and be smart. Share your thoughts and suggestions in a timely manner. Meaningful communication creates happy clients that feel listened to, heard, and understood.
#4 – Stylized Communication
Align your communication efforts with the personal preferences of your clients. In today’s technologically-advanced world, you can use more communication methods than ever before.
Some clients will want written communication, such as a detailed email or a quick text message. Others may prefer a verbal conversation over the phone. Then you will have those that only want to meet in person. You could even use video messaging as a way to keep in contact or share updates.
Stylized communication is about communicating in a way that caters to the likings of your clients.
#5 – Nonverbal Communication
How you present yourself is another form of communication. Nonverbal communication includes facial expressions, posture, gestures, hand movements, physical touch, and eye contact.
You need to be aware of how your nonverbal actions can potentially make a client feel like you are disengaged or distracted. Are you making eye contact? Are you nodding your head in agreement, fidgeting, crossing your arms, furrowing your brows, or simply smiling?
The way you carry yourself can either help or hinder your client relationships.
A Communication Strategy That Works
Communication skills are vital to your success as a financial advisor. Remember that the quantity of your communication is as critical as the quality of your communication.
You need to genuinely care about your clients. You must give them one-on-one time. You should strive to create lasting relationships.
No amount of knowledge or expertise can replace the need for a communication strategy. If you want to become a trusted financial advisor that your clients can’t wait to recommend to others, you must earn that status.
For further communication tips, a financial advisor coaching program is a useful resource that many financial advisors find beneficial. Consider working with a financial planner coach that can help you develop a communication strategy that works. You won’t regret the investment in your business.