Why 401k Advisors need to embrace digital communication to appeal to clients

A recent article in the 401kspecialistmag focused on the importance of modern day methods of communication which need to be integrated into every financial advisor’s strategy. The article goes on to support the argument with valid research points:

  1. 73% of advisors would still prefer to meet in person

There is nothing wrong with a live person to person meeting, but it is important to understand that many people often choose an online method as the more preferable choice for everyday interactions. This is especially true for the younger generation and millennials (See also: Smart strategies for advisors to attract millennials as clients). Every advisor must realize and embrace this (if one hasn’t already) because this will allow advisors to meet and communicate with more clients, more often. This brings us to the second interesting finding from the aforementioned research:

  1. 3 out 5 advisors communicate with clients on a weekly basis.

Digital way of communication is a gateway to bring that number up to 5 out of 5 and allow easy and quick ability to stay in touch weekly and have the ability to do so without leaving one’s office or even their home.

The article mentions skype, twitter and linkedin as forms of primary communication online. All are very good and effective options which are bound to drive more business but each advisor should also check with their clients to see which method might be preferable to them.

They can even do one better and showcase how tech savvy they are by introducing clients to new means of digital communication. Platforms such as telegram, slack and whatsapp have various unique features to assist with a personal conference call or a quick update. Regardless of which platform an advisor selects, it must show that one cares to adapt to the ongoing developments in the world of digital communication and in turn understand the best way to consistently reach out to each client on a personal level.

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  1. Pingback : More Advisors Now See Opportunity in Technology, not Competition

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