Financial advice and planning have never been more critical. With the market in a volatile state, it is more important than ever that you maintain a strong relationship with your clients – even through virtual communication.
Engaging with clients and potential clients during a crisis involves maneuvering through different virtual and remote tools. In this blog we will outline two methods that can be used to communicate your firm’s message - email and social media.
Send proactive emails to clients about the events that are going on in the market. While a crisis can threaten the livelihood of many people’s finances, it is important that you communicate any changes that could affect your clients directly.
These emails should be specific to the client and provide support and guidance for them to understand what is going on with their financial state as it relates to the market. This strategy can be used for client retention, especially during times of crisis. Studies show that the top reason clients leave their financial advisor is due to poor communication.
To make this process easier, try utilizing a simple email script such as:
Dear (First Name),
I hope you and your family are staying safe and healthy during this time. As we continue to monitor the (Volatile Market Situation), I want to keep you informed on any market changes that could be affecting your portfolio. I would love to set up a call with you to review this with you.
Please send over some times that you are available and we can set up a virtual meeting. In times like these, sometimes it is more comforting to speak to a familiar face. I’d also love to catch up and hear how you and your family are doing.
While active prospecting may not be top of mind, utilizing and sharing valuable content on a blog and social media channels enable you to engage with a much larger audience beyond your current client base. Essentially, you have already started the conversation with prospective clients by sharing information about your practice, thought leadership articles, or any other market-related postings. By continually creating content for social media that answers valuable questions and addresses prospective client needs, you are already nurturing leads.
Try sending a message via social media that you are available to answer any questions they may have.
Below is a sample social media post. Keep in mind that any public postings must be reviewed by your Compliance team before posting.
(Your picture, or a picture of your firm’s associates)
(Your firm’s name) is available to answer any questions you may have about the (Volatile Market Situation) or to discuss your current portfolio.
Give us a call today at (insert phone number), or email us at (insert email address) to set up a virtual meeting.
We hope you and your family are doing well during this time, and we cannot wait to connect with you.
While times of market volatility can be stressful, it is your responsibility to communicate how the changing market can affect current clients. Prospecting clients can still be accomplished virtually through social media, and messaging should not stop in times of market volatility – in fact, it should be ramped up. Most importantly, you should put emphasis on empathy when communicating with your clients.
To find out more information on this topic or how SFA Partners can help your business, please email us at firstname.lastname@example.org or call at (888) 447-2444.