New technology key to reaching next generation
Advisers need to embrace the various forms of new technology to deliver enhanced communications to clients, Strategies Plus director Michael Harrison said.
“The need for our products (risk insurance) hasn’t changed and the need is still there,” he told the AFA Conference in Melbourne.
“But the one thing we haven’t paid attention to is building relationships with clients.”
Harrison said advisers were still looking at one or two means of communication with their clients, rather than using the multiple connections that are available today.
“The multiple connections include using sites such as You Tube or Facebook,” he said.
“This is what the audience — the prospects and clients — want to use today.”
Harrison said the dealer group Synchron has a Facebook page for its advisers who are under 40 years of age.
Another method of communication is the use of e-books. These are electronic books consisting of a small number of pages that can be e-mailed to clients.
“Creating these books is simple using information the adviser already has and some graphic design,” he said.
“However, the adviser needs to think about what they want to communicate with the client before starting.”
Another means of communicating with clients is via SMS to mobile phones.
Harrison said in the past advisers were good at posting birthday cards to clients on their birthdays.
Now he uses SMS to send them a birthday greeting as there are programs that will do this automatically.
“Everybody has a mobile phone, so why not use this technology to communicate with your client,” he said.
Websites have a major role to play in communicating with clients through the use of videos and enhanced functionality. Harrison said websites are now the first place people look for information and it was important to ensure the adviser’s website comes up on the first page of search engines such as Google.
“We have created a generation of people who sit in front of TV sets so now expect information to come from screens,” he said.
“If the adviser doesn’t think about how the next generation is using this technology, then they won’t remain in business.”
Recommended for you
After seven years at the company, Iress’ chief technology officer for wealth management APAC, Anthony Gerrits, has departed as the firm commences a search process to fill the role.
With advice firms thinking about scaling up in 2025, research has detailed the main avenues financial advisers say they have used for successful recruitment.
The board of Insignia Financial has reached a decision regarding the possible acquisition of the firm by US private equity giant Bain Capital.
Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses.
