Client Communication Planning During COVID-19

I have called all of my clients, now what?  

One of the most common questions I have been asked by financial advisors is communication during the COVID-19 pandemic. Do you have a communication protocol? How often should you communicate? We are all receiving more and more communication, now that the world is working from home. What is the right amount and type of communication?

Create a communication plan

I was speaking to a financial advisor yesterday and they said, they made all of the calls we discussed to all of their clients, now what? The advisor asked me when should I call them again, and how often should I send out useful emails to them? While there is practice management research and data telling us that we should have 10 touches per year for ideal clients, there is no research on how often financial advisors should talk to clients during a pandemic. So we created a plan going forward.

Our communication script

I asked the advisor how the calls to clients were coming along. Most clients are appreciative and understanding and grateful that they have a financial advisor who is leading them during stressful times. Most calls ended on a positive note. We discussed call script questions, with a key focus in mind. As Nick Murray says

“All successful investing is goals-focused and planning driven. All failed investing is market focused and current outlook driven”. We were focusing on listening with empathy questions, as well as planning and goals questions and conversations.

Then I asked the advisor to add in the client communication script at the end of the call. “ Our communication plan to our ideal (best) clients is to call again in one month, in three to four months do an online meeting and update you and in one year do a full planning and goals meeting. Of course we are to talk here anytime, how does that sound to you?”

Value-added follow-up

Every person will be affected by government changes, and having access to financial advisors who can help interpret and help implement these benefits for people will be a massive value in the coming weeks. I asked the financial advisor to send a follow-up email that has valuable information, links, and resources to help navigate the government changes that may affect them. Government changes affect everyone. Now is a perfect time to communicate, interpret and help implement this for people. This is a perfect opportunity to demonstrate value and build your database. The financial advisor asked if they could forward this important message to family and friends. Each client has the opportunity now they are at home to share your timely and valuable message.

What value-added messages have you sent?

I get that the financial advisor I was working with sent a comforting message about their plan and goals, but now it is time to add solutions and value to people's lives. Your firm has probably sent you sample emails that you can forward to clients. Ask your compliance department if you can add this message on the bottom?

Feel free to share this message with friends, family, and colleagues. I have available time working remotely to providing financial conversations with friends or family members to help understand how to get financial and government resources now. I think having a complimentary consultation would be worth their time, regardless if you work with us or not, even if they have a current financial professional. We bring a different perspective so that they can go back to their financial advisor with a deeper sense of clarity.

Stay safe, support each other and keep well.

Finally, my value add to you as a financial advisor 

Dear fellow financial professional. I am not sure what your firm has done to help and support you as a financial advisor so far, through this crisis, but here is what I have done for financial advisors, as of March 31.  

  1. Communication plan and guide- Script and talking points
  2. Call script for ideal prospects including email templates – to give advisors the confidence to make the calls and not hide behind social media
  3. COVID-19 special reports- emails for advisors to support them in stressful times
  4. Special reports – emails advisors can send clients re government changes and value-added resources  
  5. Work remotely checklist- to get advisors focusing on clients
  6. Online video calls checklist - to get advisors connected with ideal prospects and clients
  7. Next up webinars to communicate more, stay tuned.  

The checklists are available free of charge and signup at my website:

Related: The Number One Reason Why Financial Advisors Are Not Calling Prospects