I want to talk about one major flaw that I think a lot of businesses make when clients come on board and that is assuming that they know how to engage with your business. I’m going to share with you the tool that we use in the program for starting to solve some of that problem, stay tuned for the advice manual.
So within leverage, the one thing really keen to do is firstly give advisors and businesses tools that are kind of 80% done, you know templates they can grab and tweak but they don’t have to build the ground up and the second thing I’m really keen to do is to give people things that we have road tests in our business. I reckon probably no more than 50% of what we roll out to advisors we’ve actually road tests on business and whatever it doesn’t work we sort of put it away and don’t move forward with it.
But one of the biggest issues that we noticed in our coaching program, was the fact that we bring onboarding new clients some would really get a sense of what was available to them. They know about the webinars, they’d get clear about when the workshops are on, they would know how to use resources and others. Frankly, you know six months down the track would realize that others are halt and haven’t known about.
We solved that problem by putting together what we call the leveraged essential panel, we call it the handbook of the program.But more and more over the past year I’ve been talking to advisers and asking them this really key question which is how do clients get to know have a usual business.
Now. the reality is most clients don’t come into financial planning, understanding what’s what an actual fact. It’s a bit of a mystery for many businesses are really great at briefing people through the onboarding or engagement process but what about when they’ve gone? What resources available to remind them that there are events, online resources, reporting tools to use as well as really put into context the investment they’ve made in advice.
You know at the end of the day we are talking about advice being a long-term investment with a long 20 to 30 year payback and unfortunately we live in an integrative patient society where people want things now so if you as a business are not continually engaging with your clients and reminding them that they are in the very early stage a long-term commitment that will pay off you run the risk big and it sort of wrap the house.
So one of the easy ways to do it is put together a document, doesn’t have to be long which just gives clients some key information about the basics things they need to engage with you in order to get the best of advice, how to get help when they need it, helping to own some of those avenues of communication and finally some of your best tips, strategies for making sure that they end up with a total return on their investment in your advice investment themselves.
Anyway, I want to share that because it’s definitely been one of the tools that I’m really happy to have developed and it’s a tool that I’m really happy to be working with people on the program to turn into a similar sort of advice Manual.
Would love to know in your space what do you do in order to bring clients on board. How do you make sure that the moment they everything is implemented their engagement doesn’t stop and you really own the process of teaching them how to engage with financial advice.
Alternatively, if this is not something you’ve looked at, you’d like to chat more about, what are your advice manual may look like? Drop me an email [email protected] and I’ll share with you a little bit about how we got there and what’s in it. Anyway it’s Stewart Bell from Audere have a great week and I’ll speak to you soon.
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