Will You Retain Or Lose Clients Based On Your Communication Approach?

An advisor’s success can be directly impacted by their communication strategy.
Less frequent contact can negatively impact clients’ confidence & comprehension.
Clients have switched advisors since 2020 in search of more, with 47% of people either switching or seriously considering switching their advisors.
Clients with a higher AUM considered switching even more.
Portfolio performance is an incredibly important topic of discussion, coming in as the third most important topic in 2019 and number one in 2022.

When it comes to communication, email is a great way to speak to your clients.
72.6% said that they preferred email when it comes to how their advisors communicate with them.
Incorporating video into your email marketing is another great way to connect.
Nobody ever fires their advisor for communicating too much, but they might for not communicating enough.

47% of people wished their advisors talked to them more regularly.
A personalized email can go a really long way with clients.
Make sure your clients understand you.
Use videos for clients and prospects on YouTube, social media and in your emails.
Help your clients to better understand difficult financial situations.

1. Commit to a Cadence: You want people to know they can expect to hear from you regularly.
2. New Touchpoints and Opportunities: The open rate for timely emails is around 40%, whereas, regular communications are more like 20%.
3. Champagne? Or Sparkling Water: Everybody wants to feel like they are your champagne client, and while you can’t give that to everyone. You can give them “sparkling water.” Make them feel important. Find a reason to send a personalized email saying something kind.
4. Prioritize Your Clients and Their Goals: Clients are all different, and we know that. The more you know about your clients, the more relevant and tailored your communications with them can be.

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