In January 2020, my profit plan called for me facilitate 3 – 5 meetings per month. My 2020 revenue would dwarf my 2018 and 2019 numbers. Then everything changed. Presentations were postponed or cancelled. Financial advisors, wholesalers and account executives are used to talking to people. Now they are stuck at home with an uncertain future. Their world has changed forever, and that is a good thing.

Golf outings are fun, but they are not enough. This global pandemic changed how financial advisors engage and communicate with their clients. The world has changed forever in nearly every industry, and financial professionals have to decide how they are going to respond. Here are the five areas advisors must embrace if they are going to stay relevant to their clients.

Social Media – Everyone is on LinkedIn. Accept it. According to a recent study, 80% of financial advisors have used social media to find new clients. It’s time to start getting serious about using LinkedIn, Facebook and Twitter to engage with existing clients and provide value to prospective ones. Prioritize (10 – 15 minutes) Liking, Posting and Sharing content. If you don’t know how to use LinkedIn for prospecting and lead generation, sign up for a SciSpeak LinkedIn 201 webinar and learn the tips. Use Twitter for news and information, and monitor Facebook for life changing events.

Technology – Every financial advisor I know has a cell phone. Independents and wire houses have embraced cloud computing, adopted tablets to replace laptops and developed their own apps. Working from home or on the road REQUIRES advisors to use the latest technology to improve relationships and communications with clients. Use Turboscan as a mobile scanner. Your clients expect you to have a website. Drive clients to it, and use it as a source of information and valuable content.

Zoom vs. Webex: Which is Best?

Webinars – Zoom, GoToMeeting and Webex are now household names. Learn to offer content to current and prospective clients virtually. Thousands of professionals are working from home, and they are embracing webinars for news and information. Bair Financial based in San Diego, CA began offered a Zoom webinar on The  Best Money Moves to Make During the Coronavirus. Professionals from across the country joined to learn free financial tips, tricks and techniques. The content was timely for business owners and others interested in learning about the CARES Act and money management.

Sales – How do you find new clients when they won’t meet with you? The way advisors acquire and maintain clients has changed forever. People are spending more time at home, and communication is key. People have more time for video conferences, phone calls, social media and podcasts. The new sales model involves giving, giving and more giving. This happens before asking for a meeting, referral or closing a deal. Clients are empowered more than ever.

Organization – When I first started my company, my day was not planned. My days are now organized for prospecting, social media, research, networking, sales and workshop / webinar facilitation. Successful financial advisors need to be more organized and structured with their day. Your day can quickly get away from you. Eat That Frog suggests people do the hardest tasks first: prospecting, cold calls, difficult meetings. Get those out of the way first, and then move on to easier tasks like email.

5 Reasons Webinars Increase Sales

The world of financial services has changed forever. Social media, technology, communications and sales are necessary tools for advisors, managers and wholesalers to engage with clients. About 37% of today’s advisors are expected to retire in the next 10 years, so newer advisors can differentiate themselves from the competition with specialized skills. Focus on the needs of your clients, and they will come searching for you.

Scientifically Speaking, of course…

Does your team know how to work from home? We can help!