Clicks, conversations, clients: discerning the art of timely advice in modern (family) financial planning

Have you ever been sitting with your spouse, partner, sibling, parent, child, best friend or colleague, and had a wedge salad moment? Oh, what’s a wedge salad moment?

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Tim Slatter, Creator of Contatto and Director, Slatter Communications
Tim Slatter, Creator of Contatto and Director, Slatter Communications

Let me catch you up. In the series, Modern Family, Phil comes home one day and tells his wife, Claire, that she must try this amazing thing that his friend (the legendary Skip Woosnum) just introduced him to: the wedge salad. Claire had been trying for years to get Phil to try a wedge salad and was hurt because she believed that Phil didn’t listen to her and didn’t appreciate her opinions. His friend mentioned it once, and now Phil can’t keep quiet about it.

This “wedge salad moment” isn’t just a staple of sitcom gold; it mirrors a common scenario many financial planners face. How often have you suggested a course of action to a client, only to be ignored (or think they’re ignoring you), then later find they’ve embraced the same advice when it comes from a different source? It’s frustrating, right?

But more importantly, it underscores the profound importance of communication – not just what we say, but how and when we say it.

Just because your advice is good, doesn’t mean it’s timely. (Or… just because it’s sound, doesn’t mean it’s heard.)

In the fluid and ever-changing vicissitudes of life, maintaining strong client relationships hinges on the ability to communicate effectively. However, consistently achieving mutual understanding with your clients over time is challenging. As financial advisors, the need to understand and adapt to each client’s unique life goals, financial fears and aspirations is paramount.

As you will know, this involves more than just the sporadic exchange of information; it requires an intentionally forged foundation of empathy, patience and the ability to connect and engage in effective conversations.

The power of preparedness

It’s a rarity to always be on the same page with all clients. Especially if you find that many client meetings happen when an annual review is due. Just because their portfolio is ready for review, doesn’t necessarily mean that your client is ready to have that conversation.

True alignment in communication is dependent on readiness – a dual readiness where both the advisor and the client are fully engaged. This readiness is not just about being prepared to talk; it’s about active listening and adaptively responding to needs and expectations so that messages can land “on fertile soil”.

For professional advisors, facilitating these types of conversations means delving deeper than surface-level financial advice. It involves a comprehensive understanding of a client’s entire life journey and crafting a conversational communication strategy that can be perceived as authentic, relevant and relatable so that it resonates with client journeys at regular touchpoints.

In our modern social media culture, we can explore and exploit digital platforms to intentionally forge these strategies that empower us to connect and engage effectively.

Leveraging digital strategies

We should never abandon traditional communication methods as these are still valuable and have a place, but maintaining an evolved level of connection and engagement requires more than traditional communication tools and methodologies.

Digital strategies, particularly through personal websites, regular lifestyle blogs, monthly email campaigns and active social media engagement are crucial.

1. Personal websites and social media profiles.

These platforms are the primary interface between you and your digital audience. They should reflect your professional ethos and value proposition and be regularly updated to represent active engagement with life, current financial trends and client success stories.

2. Regular blogs and articles.

Integrating four to six blogs a month that cater to a variety of client interests and life stages is essential. Research indicates that businesses that prioritise blogging are 13 times more likely to achieve a positive return of investment on their efforts. Blogs not only keep clients engaged but also significantly enhance search engine visibility (SEO), driving more prospective clients to your digital doorstep.

Each blog post is an opportunity to share insights, offer guidance and reinforce your role as a trusted partner in their financial journey while creating the space to direct and discern readiness for positive change.

Monthly email campaigns.

I still believe that correctly constructed email strategies are the most valuable tools in a financial advisor’s digital domain. These campaigns keep you in touch with your clients and give you invaluable insights into their readiness to engage while keeping the communication lines open, even when direct contact is not viable.

It’s an effective way to help clients feel like their financial well-being is continually being considered.

Daily social media engagement.

This should include sharing relevant content (your blogs will help with this), engaging with clients’ posts and comments and inviting targeted potential clients. Social media is not just a platform for outreach; it’s a powerful tool for building community and listening to what your network is concerned about.

The impact of strategic online communication

Strategic online communication allows financial advisors to create personalised client experiences that resonate on a deeper level. Each digital interaction is crafted to create and maintain trust and understanding, thereby enhancing client retention and satisfaction.

So, while it is rare to always be on the same page as every client, much like Phil and Claire in their wedge salad moment, the goal extends beyond achieving momentary consensus. We aim to cultivate enduring partnerships founded on mutual respect and understanding. Just as Phil eventually recognised the value of Claire’s insights through a scrapbook of implemented advice (revealed at the end of the episode), the thoughtful integration of digital communication tools – blogs, websites, emails and social media – allows you to bridge communication gaps.

This, in turn, helps guide your clients along their financial journeys at times when they realise just how much they need your expertise.


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