There is a flood of financial information, suggestions and insights online, so if a person wants to find out what a spouse contribution is, learn about SMSFs or aged care for life post-retirement, it’s not hard. However, clients finding this information via Google rather than from their adviser leaves a financial planning practice vulnerable to their competitors and DIY options. Even worse, clients could potentially access incorrect information and take action on it.
Practices, therefore need to play an active role when it comes to the financial education of their clients and, while many do, more can be done to create powerful engagement strategies. It’s important that advisers provide clients with access to online financial resources they can trust and be proactive about staying in touch with them, increasing the likelihood that the clients become advocates for your practice. Informed clients feel relieved that they have you, they feel empowered by the information and advice you’ve provided, and confident that they’ve made the right financial decisions.
"Being in regular contact with existing and prospective clients is simply good business."
However, creating meaningful financial content and the communication to support your engagement strategies takes time. Sometimes you start off with the best intentions for a newsletter or blog, but it’s difficult to keep up momentum. You need to come up with ideas; produce, edit, review and publish the content; and then communicate it. The cost of doing this in-house is significant, regardless of your practice size, and advisers are often too busy building client relationships to devote that time and energy.
You can create financial content and build resources online yourself, you can buy content in and still manage the resource and communication aspects yourself, or you can get the whole box and dice in one package. The Financial Knowledge Centre is a scalable, box and dice package that solves these challenges.
"You don't have to build it - it's already built waiting for you to brand and use."
"It is an unbiased, online resource that can do the heavily lifting for you, in a more cost-effective way."
It has a catalogue of over 350 articles and videos, life event content and 12 learning modules (covering topics including superannuation, insurance, debt management, investing, SMSFs and more) that you and your clients can access. With new content added regularly it always remains up to date.
As a customisable solution, you remain in control of what information goes out and to whom, using it to engage with a broader range of clients with changing demographics, as well as those that have never used a financial adviser before. It enables you to educate, engage and connect with your clients 24 hours a day, 7 days a week, making it a powerful addition to your service offering to clients.
A client base of informed people will make your role as an adviser easier, and remember, if you aren’t educating your clients and keeping in regular contact, there is a good chance somebody else is.
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