5 Tips to Boost Customer Service as a Financial Advisor

Becoming a successful financial advisor comes with many challenges; like any other professional, financial advisors may have weaknesses in their customer service delivery. Customer satisfaction and trust are very crucial due to the nature of their job. Customers can easily shift their loyalty if unhappy with how one handles their money. Therefore, as a financial advisor, you must provide your clients with the best customer experience possible. Here we share some of the ways to boost your customer service and experience as a financial advisor.

Conduct Regular Reviews

Many financial advisors go astray when they miss conducting regular client check-ins. Implement frequent check-ins and review financial goals with your clients, as they may change from time to time. The frequency will vary, depending on the client and your flexibility. You can have monthly or quarterly check-ins or have an arrangement that works for everyone. Also, consider major life events that may affect an individual’s financial goals, such as having a child, getting married, or even buying a house.

Provide Access to Information

The majority of the time, clients do not comprehend the options they have for investing. As a financial advisor, you need to take the initiative of finding avenues such as hosting webinars to demonstrate your expertise and create value. Hosting a webinar, for instance, on financial literacy is a cost-effective way to highlight the need for financial planning. Additionally, it helps you build your brand as a financial advisor expert.

Invest in Tools & Technology

Having the right resources and tools goes a long way in simplifying your work. It is also crucial in maintaining client relationships that are still ongoing. Investing in technology makes it easier for you to communicate with your clients while simultaneously providing quality service to them. Digitizing and virtualizing your services allow clients to submit documents and paperwork online using apps such as DocuSign. It also eliminates location-based barriers, adding a sense of flexibility to your schedule. 

You can also seek support from professionals to build your capacity on aspects like back-office operational functions. You can use platforms that offer practice management for financial advisors to equip you with the right tools and specialized knowledge to help in enhancing your client experience.
Tip: As you fuse technology into your products and services, remember to keep a personal touch with your clients.

Customize Your Approach

As a financial advisor, you need to note that different people have different definitions of great and quality service. Understanding and tailoring a great service to each client is extremely important. Some do not like frequent contact with their advisor unless there is an issue, while others like frequent contact. Some may prefer scheduled meetings in advance and in person, while others prefer impromptu online meetings through video. In providing great customer service, customization is key.

Get to Know Your Clients More

In the competitive world of financial advice, caring for your clients goes a long way in cementing the relationship with them, thus building some trust. Build a strong and trustworthy relationship with your clients by being transparent with them and communicating proactively. Your clients should be able to trust you with their finances and financial goals. 

Clients must trust you as their financial advisor before telling you about their dreams. It is, therefore, important to ask questions that will help you understand your clients deeper. As a professional, stimulate your client’s imagination to help them see the bigger picture in life. 

Final remarks

There will always be challenges when delivering a great customer experience in the financial industry. Delivering a great service certainly takes commitment, energy, and time. Luckily, overcoming them is possible, and you will be on the right path as long as you are present and proactive. Providing great service is an investment that will pay back over time!