Hi, Dan Sheehan from Social Merlin back again for another Marketing Minute. Today’s Topic: “How Can Financial Advisors Safeguard Clients During This Crisis?”
People around the world are dealing with the devastation of the coronavirus pandemic. As a financial advisor, you mayfeel overloaded by information and are spending all your time sifting through real and fake news to stay abreast of the latest developments. There is such uncertainty and concern for loved ones and communities with our economy under pressure and mayhem in the global markets. With all these concerns, one of the biggest questions is how you, as a financial advisor, can best safeguard your clients during this crisis.
The first step is that our day-to-day habits and interactions must change. The Centers for Disease Control and Prevention (CDC) has outlined safety guidelines for COVID-19. Social distancing, frequent hand washing, wearing a face mask, and decontaminating surfaces, and other measures can help curb the spread of the virus. Advisors must engage with clients and prospects using virtual meetings and work from home as far as possible. Your conduct should be exemplary to others in adhering to the relevant restrictions. Reassure your clients that while you continue to work remotely, you are still able to assist them with all their service requirements and their investments are being well monitored.
Use social media to reach out to your existing clients. It is a great way to stay connected to people without putting their health at risk. Your posts, messages, and comments should remain friendly, calm, and encouraging. Create content that reminds your target audience that they need a robust and well-diversified investment portfolio that can endure fluctuations.
Whether someone is saving for their retirement or a child’s education, it is crucial to keep them assured that they are on track with their financial goals. Now is a great time to review plans and help them avoid any reactive decisions that will reduce long-term value or possibly cause them to move their account. People are feeling quite disconnected from their long-term goals; they are bombarded with radical changes, uncertainty, and fear. You should help them focus on the bigger picture. You can reassure them with an analysis that shows how long they would be able to live off their portfolio income before they would need to sell any equities.
Your social media content should also educate your audience about diversifying their investments. Give examples of an optimal asset distribution between equities and fixed-income investments that is based on today’s reality. You can explain how an optimal asset mix can maintain a level of volatility that is most comfortable, given their age, income, projected term of the portfolio, other factors, and their life goals. Phone or better yet Zoom call your clients to discuss the current risk tolerance level on their portfolios to make sure they understand and are comfortable with it. Perhaps they will feel more at ease with a more conservative mix of funds, however, checking with them and guiding them will help them make an informed decision and will pay dividends for you in the long run. Having these telephonic conversations will give them the comfort and assurance that you are keeping an eye on their future while keeping them safe by your social distancing. In turn, they will reward you with their loyalty and trust.
If a client or prospect responds to your post or blog, give them a call and check in with them. Ask them how they are feeling and coping with the current situation. By asking some gently probing questions and listening to them, you will build a stronger relationship. Their circumstances may have changed drastically, which you may not know without reaching out to them. Your communication will ensure that you can anticipate and help guide their decision making. They may even mention or pass your content on to other people in their social network or refer a friend to you. This may also generate new leads for you from social media that you can nurture through your conversion funnel.
Clients who have been with you a long time will feel more at ease because they know you will call them if any change is necessary. Your newer clients may not feel as confident however, and it is important to stay in contact with them. We cannot control what is happening to the economy or our world, but we can control what we do. We can determine how we are going to react, so stay top of mind with your clients by regularly reaching out to them and focus on their long-term goals.
What is your biggest marketing problem? If it is getting high-value leads let us help; that is what we do! Before you lose another ideal prospect get this and other issues resolved today by going to my website, socialmerlin.com, or click the link here now. You can also ask a question, make a comment, or just get more information, and I will personally respond to you super-fast. Thanks, stay safe, and see you next week.