How Financial Advisors Are Reaping Benefits from Online Calls

Learn how financial advisors get the most out of their video calls  

Speaking to financial advisors during Covid-19, there seem to be two types of advisors. Financial advisors who are not doing any online activities and waiting for Covid-19 to end and not prospecting. Then there are financial advisors who are excited about the new networking and communications they are delivering to clients and prospects and the opportunities it brings.

Powerful technology 

Financial advisors have said to me “online video calls are the most productive meetings they have ever had with clients and prospects” They cite the reasons is they are more prepared than ever before, have a professional presentation and process and clients and prospects are more open to talk and answer questions, especially if they have been stuck at home. Meetings end on time, people seem to be better at making decisions and more engaged in advanced planning conversations. So what’s the downside to the client or prospect? Nothing, unless you like driving downtown, paying for parking waiting in reception, and longer meetings. The downside for financial advisors is you need to meet prospects typically to engage them, get to see if this is the right fit for your practice, and build the relationship. Some elite advisors I have spoken with are saying that more than 50% of their meetings in the future will be online. 

How can you meet more people?

First off consider small groups. I offer the financial advisors I coach to do a virtual marketing session for their centers of influence, accountants lawyers, etc, and bring their network together online in a virtual luncheon. ( you can consider using a food delivery service such as skip the dishes for your luncheon) The financial advisor has the “network of professionals online meeting” and talks about their upcoming webinars, where their COI’s can invite clients by forwarding the email that the financial advisor sends them. They also discuss doing joint webinars with accountants on government tax changes. This way they are doing fusion marketing ( which I talk about in my “Guerrilla Marketing For Financial Advisors” book ) by doubling their database of prospects. The accountant sends it out to his or her database and so does the advisor. Imagine if your COI’s sent your webinar to invite out to their databases?

Check your phone

Look at how many contacts are on your cell phone? Most financial advisors have hundreds of contacts on their phone. Start by inviting people you know to your webinar. Invite clients, prospects, family, friends groups, and more. Time to get creative. For example, I put a post in LinkedIn groups I am a member of to broaden my reach. I ask people to add my webinar to the newsletters they send out. Then everyone you know ask them a favor” Can I ask if you could forward my webinar invite to one friend, family member, or colleague who would benefit from hearing about “ a go-forward plan for the next 12 months”? Now you take everyone you know and half of them would forward your invite if you teach them how to. Imagine if you had anonymous people, from your clients sign up for your webinar? Your job is getting your unique offers and message out and booking follow-up appointments to help people with their wealth and planning advice, not just get people to a webinar. Teach people that they don't have a comprehensive goals-based plan for their future. Let them know they don't have a 12-month go-forward plan in writing to get them through this pandemic with confidence. 

An excuse for activity

Once you book your webinar, it is a great excuse for activity. You need to think like a “Guerrilla marketer” which is investing time energy and imagination, to grow your database. Who else could you invite? How can you post content ( like this article ) with calls to action to join your webinar? Your clients and COI’s are willing to help you if you ask them. They may come up with ideas that you never thought of. Instead of going online and reading more blogs about how to grow your business, ask your clients.

A great time to do an online feedback forum by video with your clients

I also do an online feedback forum for the financial advisors I coach. The whole process is in my book. Simply invite some of your best clients to an online video meeting and ask for feedback on everything you are doing and planning on doing to deliver more value and grow your practice. I always got my best ideas from my clients. I had clients who were open because we were always asking for feedback. Ask your clients what they think about webinars? Would they join? Would they share it with family and friends? Would they introduce it to other people? If you want to learn how you can get the most out of video calls and webinars, ask your clients. That is what the most successful financial advisors do.

What elite advisors are doing with video calling

____ Ideas to help you with prospects. Do you have compelling offers for prospects? Elite advisors use a proven script to make appointments with prospects on video calls. Do you have a script to use to deliver these offers online? Practice your script and process online with a friend or colleague before calling or setting up a video conference with ideal prospects. Meeting them online through professional-quality video will speak volumes compared to their financial advisor who is doing email and phone.

____ Elite advisors have a professionally designed presentation material such as PowerPoint or other ( approved by compliance of course) to share with ideal clients and prospects. A proven process for engaging prospects. Video conferences should have a video of you, share screen function for discussion points, and noise-canceling audio for the ideal client experience.

____ Elite advisors have a communication plan for their ideal clients. Because the world has changed, financial advisors have asked me how often should I call my clients. Tell your clients you have a communication plan. “ our client communication protocol/plan to our (ideal) clients is to call again and set up a video call in one month, in three to four months do an online video meeting and update you, and in one year do full planning and goals meeting update. Of course, we are to talk here anytime, how does that sound to you?”

____ Elite advisors use digital engagement tools such as video or digital offers. Watch video on The Willing Wisdom Index and estate planning 

____ Elite advisors use an online scheduling tool. Consider using an online calendar for clients and prospects to set up and online call or online meeting with you. You can program the scheduler to do 15 or 30-minute calls or longer, and all you have to do is email clients with the link. For a sample click on my calendar link here or if you want to discuss practice management, you can book it. 

Related: 5 Reasons You Should Never Hold a Family Meeting