by Tony Vidler
A massive opportunity exists for advisers to remove complexity from their clients lives, and in turn, be valued for the advice and convenience they deliver to clients.
Where does one start on this journey to becoming valued as an adviser, or a financial coach?
You have to work out where you can make a client’s life easier, and there are 3 places to begin thinking about how you might do that.
1. Convenience. How can you make your service or advice more convenient? Think of ways you can save the client time and hassle, or give them more free time, or condense technical information into easily digestible pieces that they can grasp quickly.
2. Communication. How can you simplify the messages, and how does the client prefer to receive them? Not everyone prefers emails…but not everyone likes spending time on the phone either….work out what your clients prefer and then deliver accordingly.
3. Accessibility. How easy is it for clients to reach you, and how often do you meet or talk personally to them? There is a distinct correlation between frequency of personal contact nd how the relationship is valued by the client. As a rule of thumb; more frequent contacts of shorter duration tends to be valued more (e.g. 5-10 minutes on the phone every 6-8 weeks will generally strengthen the relationship and perceived value more so than a single 1.5 hour meeting once per year – yet the time commitment for both is the same).
This simple framework is by no means the entire client service proposition, and nor is it in itself THE thing that will suddenly have an adviser seen as highly valuable. It is the framework for beginning to be seen that way though if your value proposition has been grounded in product solutions or market performance historically.
The first step along the path to being highly valued as an adviser is in making things as easy as possible for clients. That is the beginning of the journey towards removing complexity wherever possible from their lives.
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