4 valuable tips and tricks to wow your clients with great service

It is important within any business that you deliver a product that stands out from the competition and grabs your client’s attention.

In delivering financial advice to your clients, you will have a lengthy list of tasks and duties to tick off along the way. So, it can be difficult to find the free time to analyse your processes and work out how to go that extra mile towards impressing your current and potential future clients.

It is vital to understand, first and foremost, what your clients value most from your service. What is it that they seek from a good financial planner?

Once you’ve established their highest-ranked needs, you can go about working on ways to improve your business and deliver exceptional service to your clients.

Read on to discover four valuable tips and tricks to help wow your clients with great service.

  1. Make sure to keep things simple

In working in the financial sector, it can be easy to mistake the level of your client’s financial understanding with your own. You may find yourself flowing through products, plans, and terms during conversations without realising that a lot of what you are saying may be lost in translation.

Your client is unlikely to want to point this out to you, as it might undermine their own financial confidence, and instead they may look elsewhere for clearer and more simplified advice.

It is important to remove any confusing jargon and create a consistent customer journey that uses regular terminology and clear visuals to display any underlying modelling.

Investment app Freetrade recently surveyed 2,000 UK adults on their financial knowledge and found that nearly 50% lacked basic financial literacy and were unable to answer simple questions about their personal finance.

Meanwhile, research from the Money & Pensions Service found that 22% of surveyed individuals were unable to accurately read the balance on a bank statement and as many as 20 million UK adults didn’t know the value of their current accounts within £50.

So, keeping things simple and the financial jargon to a minimum is essential. Don’t overcomplicate your presentations to your clientele by rapidly bouncing from yields to returns to taxes or investment vehicles. Ensure you keep your clients’ Google searches on terminology to a minimum.

Remember: a confident and informed client is a happy one.

2. Show off your expertise with extensive, high-quality fact-finding research

Creating comprehensive and well-researched client profiles can be essential to a financial planning business.

Your client profiles should be clear, concise, and well-written. This can involve steps such as:

  • Constantly checking data points and information so that they are all up to date
  • Recording “soft facts” from client meeting notes on a regular basis
  • Clearly detailing client objectives with supporting notes
  • Ensuring that you have a detailed database of a client’s income and outgoings
  • Including a “client risk” section that details their tolerance to risks and has their clear and documented approval to pursue decisions within that tolerance level
  • Including historical data relating to your client’s previous investing decisions and outcomes
  • Retaining evidence of your client’s capacity for loss detailing potential liabilities, debts, and implications for current assets or income
  • Including clear and thorough cost-benefit analysis for your client’s plan.

By ensuring your records are thorough and you have done the necessary level of fact-finding research, you can boost your client’s confidence in your approach, provide a useful resource to bring yourself up to speed when returning to a client’s account, and protect your interests in the case of a potential client complaint.

Doing your due diligence, research, and demonstrating the rationale behind your plans is key to delivering great service to your clients.

However, it can be time-consuming, costly, and take your focus away from giving your clients top quality and attentive service. So, consider outsourcing your technical needs and allow yourself more time to give your clients that personal touch.

3. Put on a show by using technology to present ideas and data visually

Engaging your customers in an innovative and eye-catching manner is so important when looking to stand out from the traditional financial planning offering.

In the age of technology, when apps and digital assets are becoming more commonly and frequently used within both office environments and your client’s day-to-day lives — knowing how to deliver an exciting and visual presentation is key to great service.

This can take many forms. You may want to update your website with easy-to-use tools for your clients to check up on their progress, perhaps even easily digestible client profiles that they are able to access.

You can use video presentations, audio files, and digitally presented data through exciting graphics and graphs to better get across your strategy.

In creating a consistent user experience, you want to make sure your clients aren’t progressing from your brand-new interactive website to a run of the mill Excel generated spreadsheet. The process should be visually engaging from start to finish and deliver your ideas in a simple, clear, and eye-catching manner.

The drawback of this approach is that it can be time-consuming to sort and assemble. So, working with a partner or outsourcing the task can help take the pressure of your schedule and free you up to focusing on what matters to your client most — their needs and long-term goals.

4. Build up clear communication systems with feedback and follow-up channels

According to Zendesk, consumers in general consider these factors vital to great customer service:

Source: Zendesk Blog

It is clear that customers value communication, understanding and simplicity above all other aspects.

So, it is key to delivering great service for your clients that you are easily reachable and that you provide quick responses to their queries. You should aim to check back in with your clients and understand their needs and queries without them having to remind you or repeatedly ask.

You can improve your communication systems by regularly seeking client feedback in order to understand how you can improve your service and eradicate any potential issues. This can take the form of a simple questionnaire or internal follow-up.

You should also regularly stay in touch with your clientele, not just through communicating about their portfolio, but through thought leadership, keeping them apprised of your developments, or showing how you are keeping your business modern and innovative.

Get in touch

In working to outsource some of your back-office needs, you can work towards ensuring your clients receive the best possible service at all times, and ensure your firm stands out from the crowd.

If you’d like to discuss how we could help with your technical, administrative, or fact-finding needs, please get in touch by emailing hello@eparaplan.co.uk or calling us on 01733 699071.


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