The Checklist for Financial Advisor Teams Working Remotely With Online Video

Practice management strategies for financial advisors communicating with clients and prospects using video

Financial advisors and wealth professionals who have never done video conferencing and calls with clients and prospects working remotely will be struggling to figure it out for themselves. Here is a simple list of practice management items to think about. 

Practice Management checklist for financial advisor teams working remotely with online video

___ Set up your workspace with minimal distractions ( easier said than done) and make sure you have a professional-looking background.

___ Set up a professional online call service such as zoom or GoToMeeting. Don’t do simple phone or free service video calls with prospects, as this is your image you are putting out there, and calls can be choppy. 

___ Test all of the functions and features so you know how to navigate the calls, and guide clients and prospects to connecting with you.

____ Set up proper lighting and background so it looks and feels professional. Can I see your face well? Wear darker colors as photographers recommend when doing professional photoshoots.

____ Go to your internet provider and get the best possible connection speed. Check out ways to get faster internet speed, such as hardwired cable versus wifi, closing all windows before doing online calls, and getting a faster router, that can deliver what your internet provider offers.  

___ Make sure you have an HD camera and good sound and microphones for the best quality experience. I use noise-canceling headphones and a hands-free microphone.

___ Update your technology. Look at getting high-quality headphones and a microphone. Consider sending an online video conferencing kit to ideal clients and prospects, to help them connect to the world better.

___ Before the meeting, tell your client and prospect you will call them to make sure it is set up on their end properly. Don’t expect them to know how to use the technology, their camera and microphone, and computer setup.

____ Send an email of how to connect to your video call with instructions on having a camera and microphone set up, eliminate any distractions during the call and how to have the best experience during the call. How will a couple set up the call together and how will you see them both. They may need to think about where to sit together for the call, so you can see both of them. Positioning the camera, laptop or computer so they have the best experience.

____ Remind your clients to close everything on their computer so the call has the highest quality. Suggest the fastest computer in their home that is hardwired, and not wifi. This is why cell phone video calls don’t work as well, and calls get dropped.

___ Consider recording the meetings with clients and prospects permission of course. This is the perfect time to improve your conversations with clients, by listening to the discussion. Trust me do it one and you will improve! Start with a friend or colleague to test it out. 

____ Engage them in the call by asking them to take notes. Tell them that you are also taking notes and will send a brief summary after the call. You can do goals conversations online and have them write down some of their long term goals over a video conference call.

____ Ideas to help you with prospects. Do you have compelling offers for prospects? 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.

____ Do you have a professionally designed presentation material such as PowerPoint or other ( approved by compliance of course) to share with ideal clients and prospects. Is it just words or is it emotionally engaging with pictures? Video conferences should have a video of you, share screen function for discussion points and noise-canceling audio for the ideal client experience.

____ Communication plans. 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?”

Optional script

“We have built a process to communicate with our clients, during this challenging time, and the outcome is helping you focus on your goals and plans for your future. To quote Nick Murray -We know that all successful investing is goals focused and planning driven. We all know that failed investing is market-focused and current outlook driven. We will talk again next month and set up an online video conference call to discuss your future. Of course, we are to talk here anytime, how does that sound to you?”

___ Technology considerations. Considering improving internet speeds, computers and of course cybersecurity. Ask your firm for guidance or support on testing security protocols. 

___ Databases and data security. This should be your biggest concern. Consider updating your privacy and confidentiality forms with staff, to ensure complete confidential protection or data 

___ Online scheduling. 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, 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. 

Share this checklist with your team on an online call and discuss your new video conferencing practice management processes for working remotely. If you add to the list, let me know, I would love to hear from you, as I tried to shorten it up as best I could. Best of luck working remotely!  

Sources Bill Bachrach

Advisor Roadmap- A New Era of Financial Advisor Training 

Related: Practice Management Strategies for Advisor Teams Working Remotely