Clients want an expanded definition of advice
Clients today are no longer afraid to ask for more. They want advice beyond foundational financial planning and asset management – they’re looking for advice on how to live a better life. Financial advice, yes… but more!
What is the “more” to which they are referring? It’s time to begin addressing clients’ need for advice beyond accounts and financial models; it’s time to address the clients’ desire for well-being. How can you offer advice that will help them live a better life?
Well-being is often divided into five dimensions: physical, financial, emotional, social, and personal. As any adviser can testify, client conversations seldom color within the lines. A discussion of a client’s financial situation can, and should, expand to encompass every aspect of their life. But is that advice integral to the process, or merely small talk?
It may be time to begin the process of addressing the needs of a client’s well-being more formally. How can we expand our definition of advice to help meet those needs? The answer may bring your advice-business the differentiation necessary to make your business “must-have” for a segment of the market. The process of offering resources for a more well-rounded life experience may make your business more successful, and in-turn, more fulfilling!
Smart Marketing becomes critical to growth
Clients are aware that not all advisors are the same – this is more of a reality today than any other time in the industry. The ability to compare firms is at the tip of our clients’ fingers. They can evaluate in split-screen what firms offer and charge. Clients are doing extensive research… looking for reviews from other clients, in-depth articles, and fluid communication.
How do you stand out?
Customers are looking for convenience, reassurance, value, inspiration, and uniqueness. They want to know that the time and money they invest in your relationship will pay dividends. They’re looking for someone who is honest, transparent, and has their best interest at the forefront of their decisions. Assuming you can check those boxes, how are they going to find you? For most advisors the answer begins by evaluating resources within their current firm. If those resources are thin, consider hiring a marketing firm that specializes in financial advisors.
The ability to create effective marketing is within the reach of most advisors; the time is now to begin educating yourself on how to shift your energy from working hard to working smart!
At Colmina, we utilize our Concierge Services to offer our clients that ‘extra something’ they are looking for. Beyond traditional assistance, we offer personalized guidance and resources to help them get the most out of what they have earned. From lifestyle services to forensic financial expertise, we are here to safeguard their financial interests in all facets of life.
At Colmina, we offer robust financial advice designed to meet the growing needs of our clients. Expanding beyond transitional investment management, Colmina offers a platform of advice that ranges from foundational to complex planning to holistic wellness & lifestyle advice. The advisors and clients of Colmina have access to an abundance of resources and professional advice.
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