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As a financial advisor, you’re not constantly interacting with your clients. You plan regular meetings throughout the year and communicate outside those meetings only when necessary. Despite this lack of facetime, you can still continually wow your clients. Here are 4 tools that will help you build trust and confidence in your existing clients.
When you work with a lot of clients, it can be hard to balance time spent with each of them. Put together an online newsletter that goes out periodically to clients. Inside, you can include news that might impact them, financial tips and tricks, and statements of success or client testimonials to keep your clients wowed even when you’re not in front of them. Mailchimp, and other tools like it, allow you to build a master list of recipients, craft your newsletter, and then simply send it out to any and all contacts for a very small cost. You can even build multiple lists, separating clients based on demographics like age, geographic location, industry of employment, and more.
HiddenLevers reduces portfolio stress to a manageable level by allowing advisors to project the future of an investment. Of course, gauging the risk and reward is an important part of building an investment portfolio, but as the portfolio evolves over time, it can become convoluted, and stress testing can become more of a hassle. HiddenLevers allows you to build hypothetical portfolios before investing so that you and your clients are more aware of what profit or loss might come from a strategy. There’s really no better way to wow your clients while building an investment portfolio than to show them a physical representation of their risk and possible reward.
Financial Advisor Software
Technology has changed the way we both access information and communicate. One of the best technological breakthroughs for financial advisors is client financial software, like eMoney Advisor, which allows you to track every client throughout their financial journey. With services like eMoney, you can evaluate data and analyze every client’s personal financial history to provide a 360° client experience. Clients can even communicate with you through the software.
Very few seniors are aware that their life insurance policies are actually considered assets. As such, many insurance policies are sellable property, even term life policies so long as they are convertible. If your clients are looking for ways to pad their retirement funds, you might consider talking with them about selling their policy. In many cases, existing life insurance policies become unneeded or unwanted. Often, polices become not worth the weight of paying the premiums on them. Instead of surrendering the policies for a small sum of money, your clients may be able to sell them to a second-party buyer in order to obtain a larger sum of upfront cash.
If you’re interested in life settlements and want to learn whether your client meets the requirements for one, check out our qualification calculator today!