Easing people through paperwork
Paperwork is an essential part of being a financial advisor, especially at the beginning of the client relationship. However, the sheer amount of it can be intimidating, and frankly boring, to the client. Here’s how to help the client through those early hoops and set the stage for a fulfilling relationship.
Make it a meeting
Your clients are busy people, so if you give them something that feels like homework, they are unlikely to do it. Instead, offer to sit side-by-side with them as they gather all the needed documentation. Proactively offer guidance for where to find information.
Do as much of client’s work for them as possible
When there are forms that need to be filled out, complete as much of it as possible before passing it along to the client. Use Post-It notes and highlighters to make it super clear where their work is needed. Offer options like Docusign where appropriate and feasible.
Provide status updates
Motivate the client to keep going by reminding them how far they are in the process. This helps to provide a sense of momentum to paperwork, which makes them more likely to complete everything. The biggest competition here is time, so keeping the client engaged is essential.
There’s really no replacement for talking one-on-one with clients. Regular conversations can help build the relationship, and allow you to ask questions about their life beyond finances. Keep a running list of your last communication with each client, and, if it’s been awhile, give them a call.
Share articles of interest
Sending interesting articles to your client is a simple way to show you care, while also demonstrating your expertise. The articles you send can be market-related or tailored to the interests of the client.
Send a weekly newsletter
A weekly newsletter is a simple way to stay in touch with clients, keep them informed on the latest market news, and provide a bit of entertainment. Keep these short, simple, and entertaining.
Offer a regular virtual conference
A virtual conference is a great way to disseminate information to clients in a more personable way, particularly if you have clients across multiple locations. Set a recurring time when you can update clients on the latest market happenings. When done well, clients will look forward to these and add them to their schedule.
