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5 ways advisers have remained client focused during COVID-19
The global pandemic has necessitated a rethink by many advisers about how they should go about their business. While some have continued to function relatively easily and effectively, for others it has been more of a challenge.
In speaking to advisers about the ‘new normal’ environment, I am often quizzed about what other advisers are doing. Five aspects have stood out for me.
Communication
A survey conducted by Financial Advisor Magazine revealed that a lack of timely communication is one of the primary reasons clients leave their advisers. Effective communication doesn’t mean bombarding clients’ inboxes with daily market indicators, weekly economic commentary or a monthly investment statement. While it is important to address investment and financial matters, communicating with clients as unique individuals, with their own goals and aspirations, is key to maintaining and building strong adviser/client relationships.
Request feedback
During challenging times or when life is less busy, many of us tend to reflect on our personal circumstances. While top advisers make a point of obtaining feedback from clients at regular intervals, if ever there was a time to ask clients about what they need most from their adviser, it is now. I firmly believe that asking well considered questions is possibly of greater importance than the solutions that may be offered. Requesting feedback can be done personally, but...
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