COVID-19 has affected financial advisors in countless ways, including how they communicate with clients and prospects. To learn more about the pandemic’s impact on advisors’ communication strategies, Financial Advisor Magazine recently spoke with Wealth Matters Consulting President and Chief Brand Strategist Rosemary Denney.
“Advisors who had a well-developed message before the pandemic made the flip to digital without missing a beat,” Denney tells the publication. “COVID-19 let them strengthen their existing relationships. Having a well-developed message also helps firms prospect for new clients.”
Denney explains that the first step to successfully communicate in this new and challenging environment is to identify your ideal client, and then develop a message specifically catered to that client. “Wealth managers need to be very intentional about what they are saying to their clients and prospects,” she says. “This does not mean just defining families by their wealth level. It means targeting what the patriarch and matriarch and their children really care about and their lifestyles.”
Some specific strategies Denney recommends include creating fresh content designed to address common questions and concerns, revamping marketing materials and distributing content across all platforms and technologies available to extend its reach.