Client Acquisition Engine Live Webinar Replay – Lead Generation in a virtual world

client acquisition for financial advisors

2020 Was everything we didn’t expect, and many advisors plunged into turmoil, unable to implement the 1985 client acquisition tactics we know all too well. Reality check: these traditional tactics have been obsolete for a long time, and the brick-and-mortar advisor is dead.

traditional client acquisition for financial advisors involved cold calling

Becoming an advisor of the future

It’s obvious; client acquisition for financial advisors will never remain fixed, nor is there a one size fits all way of doing things. As an advisor, you also don’t want to apply the same tactics as other advisors because your ideal client is different from other advisors. 

What’s a Client Acquisition Engine?

When it comes down to it, client acquisition for financial advisors in the digital age comes down to the reallocation of money you’re already spending to increase revenue while drastically reducing overhead exponentially – it’s that simple.

Watch the webinar replay how you can use this tactic to become an advisor of the future.

If you want to learn more about becoming an advisor of the future then our virtual advisor proclamation ebook is a good place to start!

If you want explore more about the Virtual Advisor System and our other resources, check out our virtual advisor blog.

 

Virtual Financial Advisor Marketing: 3 Primary Areas of Focus for Facebook Ad Campaigns

facebook ad campaigns for financial advisors

With over 2.6 Billion monthly active users, Facebook is the most popular social media platform in the world.

Virtual financial advisor or not, the majority of your audience is reachable online, and that is why targeted Facebook ad campaigns can be so critical to your business’s success. They form a crucial part of the virtual sales process. Without targeting, you will be spending advertising dollars on people who may never be interested in or require your services.

One of the reasons why Facebook is so popular, especially for business owners, is because it allows you to make a custom audience based on four main categories, including:

  • Location
  • Behaviors
  • Demographics
  • Interests

Better yet, you can retarget users who have already engaged with your brand. Through retargeting, you can reach audiences who already know you by re-advertising to individuals who have already visited your website, Instagram, or Facebook Page. I cannot stress this enough – retargeting is EVERYTHING when it comes to getting the most of your digital marketing advertising.

Now, when it comes down to an ad campaign, there are so many options available to you; a plethora of approaches one can take. It can prove tricky and confusing at the start, which is why we have put together an outline that will work specifically for you, the virtual financial advisor. Here are the three primary areas to focus on when setting up your Facebook ad campaigns.

Engagement

Virtual Financial Advisor Marketing tip#1: Tap into The Emotions of Your Ideal Client

How do you get your ideal clients to engage with your brand message? Through emotion. Demonstrating your service’s benefits will show how you can help, but feeling creates the motivation to seek that help. Find ways to connect with your audience, to resonate with them genuinely.

It would be best if you put yourself in the shoes of your ideal client. What do you want them to feel when they see your ad? What is it that will help them connect to your mission? How can you drive action?

You can get there by focusing on their pain points. For example, an individual seeking financial security for their family, someone struggling to set up a trust for their children, or not knowing how to invest their money. You know your ideal client more than anyone else, so speak to their needs directly. Be creative.

Facebook engagement campaigns are one of the cheapest ways to generate micro-conversions that you can use in future retargeting efforts. Furthermore, these micro-conversions; Facebook shares in particular, contribute to what the Facebook algorithm identifies as viral.

facebook engagement notification

Traffic

Once you have a message, you can start using Facebook ads to build up relevant site traffic to your essential services, landing pages, and articles. When driving traffic to any page on your site, you want to ensure that you have a Facebook pixel unique to your business installed before you start any campaigns. Why? Remember we mentioned retargeting? That’s where Facebook pixels come in – what’s the point of driving all of this traffic if you cannot re-engage warm users with an offer that is relevant to them?

Virtual Financial Advisor Marketing Tip #2: Building Pixel Data

The Facebook pixel is code that you install on your website that collects data, helping you with the following:

  • Facebook ad conversion tracking
  • The optimization of those ads
  • Building targeted audiences for future Facebook ads
  • Remarketing to individuals who have already engaged with your website

Facebook pixels work by placing and triggering cookies to track users as they interact with your website and your Facebook ads – crucial to obtaining measurable results. Here is a step-by-step guide on how to set one up.

Conversions

Virtual Financial Advisor Marketing Tip #3: Use Lead magnets

Simply advertising your services and expecting conversions from your ads is unrealistic. Yes, it works sometimes, but to ensure it frequently works, offer your audience something of value as well. As I highlighted before, part of building a robust digital infrastructure as a virtual financial advisor is sharing some of your expertise for free. Either through hosting a free webinar or offering an eBook full of valuable information, you will reel your ideal clients in.

Together with addressing your audience’s pain points and using the Facebook Pixel to track and retarget, you’re setting yourself up for a successful ad campaign.

By giving your audience something of real value for free, they’ll usually be happy to fill out a form on your website. Once you have their information, you can then follow up and convert them into a client.

Great ideas for lead magnets:

  • Templates and spreadsheets for your prospective clients to use in their personal finances
  • Free webinars hosted directly on Facebook through Zoom
  • Webinar replays hosted on your website
  • Interactive quizzes offering advice once their score or results are determined
  • How-to guides (think investment or saving tools & tips)
  • Comprehensive eBooks (think “How to Rollover an IRA”)
  • Explainer videos

facebook conversion ad

When using the above, you will then be able to use lookalike audiences for your future campaigns. Lookalike audiences are a highly effective way to reach new members of your target audience. Why? Because they enable you to connect with new users who are most similar to individuals you have previously converted into high-value customers. You can find a step-by-step guide here.

When it comes to Financial Advisor marketing, Facebook ad campaigns are just one cog in the machine of a successful virtual practice. There is a ton to set up and manage to get the most out of our digital marketing efforts.  Notice how I didn’t suggest you boost a post?  There is a reason for it!

Digital marketing for financial advisors is the new way you prospect for clients.  No more cold calling, door knocking, or cheesy seminar dinners.

You can learn more with this free eBook I created, Lead Generation in a Digital Age.

As always, thank you for reading, please consider me a resource.

Best Regards,

Derek

How to Adopt a Virtual Sales Process for Your Remote Practice

asian woman adopting a virtual sales process for her remote practice

At the start of 2020, companies and financial advisors were scheduling client dinners and booking business trips to conduct face-to-face sales meetings. This way of operating came to an abrupt standstill as COVID-19 forced sales teams to shift their operations into the virtual world.

“Physical sales teams had to learn an entirely new system for maintaining and closing deals,” said Brian Moran, CEO of Small Business Edge.

Consider the history of the  handshake in sales culture, symbolically sealing the deal. However, this polite gesture can’t be replicated over video chat, during the current pandemic.

“Things like visual communication or tone of voice carry incredible weight in how we communicate,” says E.J. Kritz, director of training and insights . “While a Zoom meeting can still allow a salesperson to add a sense of human element by being polite and accommodating or dazzling customers with their enthusiasm, much of the deal is now done via email, taking away from the personal element and making the encounter more impersonal.”

Change is the only constant

The world is changing rapidly, and the financial planning industry needs to adapt accordingly, not to be left behind. Admittedly a daunting prospect, but this change is a much-needed shift that comes accompanied by great opportunity.

a virtual sales process outlasts constant change

Transitioning from face-to-face selling to virtual selling requires a new  approach better suited to the demands of new-age buyers who prefer to work through digital channels. This virtual realm can offer more visibility, enhanced customer engagement, and greater efficiency from technology use.

Building an entirely virtual team is a far more financially viable way of running your practice. You no longer require overheads, such as office space and equipment and there’s more room for collaboration, as you can work with specialised individuals as you need them. These digital collaborators can be located anywhere in the world, charging per hourly or agreeing to a set budget per project.

Trust the virtual sales process  

The same tools, such as Zoom and Skype, once used to discuss personal matters and connect with friends, are now used to give clients personalised financial advice in the comfort of their own homes. Younger generations such as Gen Z and Millennials actually prefer it.  In fact this was already mainstream before the pandemic with over 42 million households already prime candidates for virtual advice according to a 2019 Mckinsey report.   Not only will it save you time, but it can avert any awkwardness that arises from visiting clients at their place of residence after hours.

Having the correct digital infrastructure in place is essential to communicate with your virtual staff and clients while protecting all parties’ data. The brick and mortar model would require you to visit physical locations for sales meetings or go to a client’s home at night. Now you can conduct virtual ‘house call’ appointments. Using your business website, you could set up a scheduling tool to enable customers to set up virtual meetings online. This scheduling tool could sync with your calendar for convenience.

Communication is key 

Strong communication lines between employees and managers can further help workers feel part of a network and keep remote work from becoming isolating.

Working remotely allows for more flexibility within your schedule and gives you the ability to choose your hours. When time zones differ, and work schedules don’t align, it’s essential to be mindful of your co-worker’s time to create a working symbiosis.

Remote working can bring about a sudden change to your daily schedule. For instance, if an employee falls ill, you need to take on the responsibility to compensate for their absence as a team. You delegate the work among your team, to best maintain productivity within your practice.

communicating with teams virtually

Prospect through digital marketing

Prospecting transforms into digital marketing with your entire audience existing online. Adopting the virtual financial planning model is where you will need to connect with them.

First impressions are more important than ever, so invest your time and energy in designing and implementing an effective digital marketing strategy that can help increase your SEO ranking and improve your sales conversion rates.  This is your digital storefront do it right and clients will be coming to you.

Interacting with potential clients online can give you direct insight into what your audience wants. This valuable information can steer your decision-making processes in the future. It will also help you enhance your customers’ experience, develop loyalty and trust through exemplary service, and increase your ROI.

One of the key strengths of digital marketing for financial advisors lies in creating brand awareness to target new markets and consumers.

Delivering a high-quality service will result in more fulfilled client relationships and see healthy brand awareness transpire through feedback, reviews, and word of mouth publicity. These customer assets help build a brand reputation without costing you time, money, or energy.

Define and publish your virtual sales process

Once you get traffic (potential clients) to come to your digital storefront you must show them what to expect if they work with you.  Although each virtual sales process will vary slightly depending on the advisor you should make it clear how many meetings they should expect to have with you, how long each meeting typically takes, and what is to be covered in each meeting.

Whether you realize it or not potential clients want to know what your virtual sales process is since they want to know what to expect in working with you.  If you don’t tell them clearly what to expect you are giving them one more reason not to contact you.  Check out my virtual sales process for Intrepid Wealth Partners here as an example of what you should consider doing for your digital store front.

Prepare for the future

The sooner you embrace the technological revolution we are currently experiencing, the sooner you will be able to utilise the ability to work with people anywhere on earth and streamline your business collaboration to reach new heights.

The consumer and technology have evolved, we must do the same.

Cheers,

Derek Notman

How Financial Advisors Can Develop a Compelling Online Experience

financial advisor social media and digital marketing

So here we are, about ten months into a global health emergency. Over the better part of a year, we have seen entire countries go into lockdown, with most of our country forced to work remotely from home.

If having an influential online presence was important before COVID-19, it is a high-priority now. You cannot survive without one. Look, our 2020 plans were through for a loop this year, but there also is a silver lining to it all for financial advisors especially.

Arguably our greatest attribute as a species is our resilience – our ability to come together and prevail through even the most treacherous circumstances.

So, although it has been some year, I’m here to show you how to embrace this new normal to your advantage as a financial advisor. It begins with developing a compelling online experience.

Adapt your Strategy

Due to the vast improvements in technology, many of our daily tasks have carried on the same, with some now automated. However, as a financial advisor looking to attract prospects (new clients), you cannot rely on previous marketing methods that are more than dated.

social media strategy

As a matter of fact, you’ve got to change your marketing strategy quite significantly.

By adapting your outreach and lead nurturing approach, you will ensure growth and sustainability. Although it first may seem a little daunting, once you’re up and running, it is more scalable and predictable, not to mention that the consumer expects it.

You can start shifting your strategy by working on your blog and social media presence. Everyone is at home, which means that most of us are on our devices more than usual, so it’s the perfect opportunity to engage with your target audience.

Try to build your new marketing strategy around giving your readers valuable advice that they can apply to their lives immediately. In other words, use your skills and experience to write guides, lists & tip style blogs, newsletters, and eBooks that are free to download. You will need to publish content regularly, at least once a week, so get creative and use your knowledge to reel prospective clients in.

Use Social Media to Promote Your Content

No one wants to be blatantly sold to. You have to base your social media strategy around providing real worth to your audience first. Sure, when you’ve built up a following, there’s no harm in a self-promotional post once a week, but for now, make sure your posts are giving something worthwhile to whoever they reach.

Your social media channels should be used as a conversion tool to serve as a source of credibility for your business and aid your SEO efforts. Your channels (compliance approved of course), such as Instagram, Facebook, Twitter, and LinkedIn, should always be kept active with relevant, helpful content and should never be directly used for finding new clients.

Content posted on social media should be broken down into the following categories:

Educational content

Educational content should be made up of posts that share helpful, informative, and valuable information to your audience on a topic that resonates with them. Think about what you can teach them about – top tips, how-to’s, infographics, did you know’s, blog posts, industry information, resources, case studies, etc.

Conversational content

Here, it would help if you tried to ask the audience questions and get people engaging with your brand – think ‘fill in the blank,’ ‘caption this,’ ‘give your opinion,’ or polls that they can interact with.

Entertaining content/Inspirational content

It would be best if you weren’t too serious all of the time. Have some fun and create posts that your audience will relate to and enjoy – think memes, quotes, fantastic imagery, motivational posts, feel-good stories, etc.

Brand connection content

As I’ve mentioned in previous posts, you need to make your clients’ experience more personal. Again, have a little fun and showcase what you’re all about. Brand connection content should be focused on behind the scenes, employee features, and your brand story.

Promotional content

Try to build a following first, and once you have, sneak in posts that promote your products, services, specials, deals, etc. Also, make sure to add a call to action so that your followers know exactly what to do should they be interested in what’s on offer.

Use Paid Media Campaigns for Promotion

There are so many ways to ensure your marketing efforts are impactful and effective. Once you publish content regularly and promote it across your socials, you can look at setting up paid ad campaigns.

facebook social media ads

Paid advertising is hugely beneficial because it garners instant results, can be measured, is cost-effective, and ultimately enhances your efforts towards building meaningful relationships with your audience.

Now that you’ve adopted a fully digital financial planning practice, your overhead can be considerably lower, so investing in the right tools to help you develop a compelling online experience is imperative to your success.

At Conneqtor, we have built a comprehensive set of processes that will help you establish yourself as a financial advisor in this day and age. Download our free eBook to find out more.

I hope you enjoyed reading this!

Kind regards,

Derek Notman

Content Creation Tips for Financial Advisors

content creation tips for financial advisors

Content is king. Yes, it sounds cliched, but in a digital world and especially in the realm of digital marketing, content truly is king. Yes, I know you’re not a digital marketer, you’re a financial advisor, but digital marketing is one of the most effective ways to build your brand and grow your business.

Content is essential in digital marketing because it makes people aware of your brand and hopefully converts them into paying customers.

Content is a trigger for interaction and engagement, and if people like what they see, read, and hear, they’re likely to come back for more.

Here’s what you need to know about content creation to ensure that you create excellent financial advice for your clients.

Content creation or curation belongs to the concept of inbound marketing; inbound marketing is the opposite of a hard sell or product push.

Inbound marketing is about publishing excellent, helpful, and relevant content that brings your customers to you.

It’s the type of content that helps users to find you because it’s content that they are looking for. The intention is that you will build permanent and long-term relationships with your customers by publishing this content.

People regularly seek financial advice; your clients are looking to you to receive the latest industry advice. They require information. And because you have the skill and knowledge, you can provide them with information that will help them make their financial decisions.

The onus is on you to explain ideas and concepts in a way that’s easy to grasp. In addition to this, you can offer tips, tricks, solutions, handy and helpful hints.

The thing with content is that you have to keep it up to date and keep it relevant, and this is no small task; it does take effort, research, and time. You need to keep yourself up to date with the latest trends. Try to read everything you can get your hands on related to the financial industry.

If you write regularly, you will find that creating content becomes more comfortable with practice.

This being said, though, there’s also something called evergreen content. This is content that is relevant for more extended periods and doesn’t go quickly out of date. It’s timeless content that will still generate traffic even when you are not writing.

Who’s Your Audience?

Who is your content intended for? Get to know your audience, get to understand their preferences. If you know their preferences, you can segment them into groups and target specific information. This makes them feel like the content was created explicitly for them.  Your audience is your Ideal Client.  The less defined it is the less effective your content will be in driving inbound leads.

Using Your Persona

Position yourself as an expert in your field. Write to your persona. People come back to things they can identify with, or that feels familiar. You will find that they get used to your expertise and style, and this is what will make them return. What makes you different from other financial advisors? What’s your niche?  And, just be you!

Promoting Your Content

Content promotion is also vital. There’s no point in creating valuable content if no one sees it. You still need to entice and persuade people to consume your content.

social media marketing for financial advisors

Email marketing and using your social media platforms are great tools to publicize your content. You can also promote your content through paid advertising or pay per click (PPC); this will get your content directly in front of your audience.

Ideation

When it comes to ideas on what to publish, you can do several things, but one of the best things to do is find out what people are searching for, then serve them relevant content that meets their needs. People use search engines to search for information. They will start their search by typing a word or term or phrase, known as a keyword. You can base a lot of your content on keyword research.

You can also ask your clients or readers what type of content they are looking for – create a poll and let them decide.

You could interview a subject matter expert and give your readers a precis. Or you could be very personal and write about your own financial journey. The list is endless.

Scheduling Content for Publishing

Once you have brainstormed ideas for content, it’s time to create a content calendar or plan. You need to schedule when your content will be published. It needs to be researched and written and edited and then only published.

There is a process, and you need to ensure your timing won’t trip you up. Also, different content belongs to various platforms. For example, blogs differ from social media content; they are longer and more in-depth and are posted on websites; they tend to be more evergreen because tweets last minutes or even seconds. This process will determine where you publish your content.

Analysis

And last but not least, you need to analyze the response to your content once published. How many page views did you receive? This is the number of users that viewed your content. What’s your bounce rate? This is the percentage of visitors who leave your site after visiting only one page. Were they engaged? Did they respond to any calls to action (CTAs) like downloading a freebie or contacting you directly?

The aim of analyzing your content is to find out what’s working. And if something isn’t working, it can be tweaked. This is one of the great marvels of digital content; it can be tracked and analyzed to determine if you’re reaching your goals.

digital marketing analytics

So now it’s up to you. Are you ready to get started?

I wish you luck on your journey. As I have, I hope that you will find that it’s filled with wonder and amazement and can do much for your burgeoning brand.

I hope you enjoyed reading this article! Remember, you can always reach out to me for guidance and advice.

Kind regards,

Derek Notman

How to be a Virtual Advisor – NextGen Planners Podcast

being a virtual advisor nextgen podcast

Wondering how to be a virtual advisor?

Although we have covered the topic of ‘how to be a virtual advisor’ in different ways to explore the various nuances that come with it, it will remain fluid in nature.

In short, the journey of a virtual financial advisor and what it means to be one is not a fixed process, but one that’s in flux. As technology progresses, so do the capabilities of the virtual advisor. The journey begins between the ears.  You must know and believe it is possible.  There is more than enough evidence showing that it is possible.

The NextGen Planners of the future are simply evolving into what they and the consumer want them to be.  It is an exciting journey for any and all financial advisors wanting to make the transition from a brick and mortar to a fully or even semi-virtual practice.  It is also a journey the entire industry has now been forced to embrace.  COVID-19 was a blessing in the form of a Pandemic for the financial advice industry.

We can evolve and adopt new strategies or we can rest on our laurels and slowly go out of business.  It is a choice, what will you choose?

how to be a virtual advisor

NextGen Planners Podcast

Our founder, Derek chats to Rohan from NextGen Planners on what it means to be a virtual advisor and more on episode 83 of their podcast.

The podcast covers:

  • His financial planning career
  • Why he transitioned
  • How Conneqtor is going
  • Tips that Derek has for financial advisors who are starting their career
  • A book recommendation – in this case The 4 Hour Work Week by Tim Ferris and Think & Grow Rich by Napoleon Hill

Listen to the podcast below.

If you’re interested in learning more about how to become a virtual advisor we highly recommend downloading our free e-book as a start.

How to Create a Mutually Beneficial Advisor-Client Relationship

build mutually beneficial client advisor relationship

In the age of instant gratification, Millennials and people from Generation Z are not your average clients. They want what they want when they want it. While this may be daunting, it also provides us with an opportunity to connect with them in the place where they are most likely to be found; online.

The Coronavirus has only served to drive more people into the online realm, and this has become the place where your current and future clients will be looking to interact with you. To succeed in any industry these days, it all boils down to keeping up with the times and being agile enough to accommodate your clients’ needs.

Here’s my advice on how you can form good connections while running a virtual financial planning practice.

First – Be Selfish and Focus on the Advisor Experience

So much is said and written about the Client Experience that most advisors forget to address the Advisor Experience.  All too often advisors focus on trying to create an amazing Client Experience but neglect to consider how doing so may negatively impact their own lives and business.

It never made sense to me that so many advisors essentially put their lives on hold only to help their clients realize their hopes, dreams, and goals.

Advisors who focus on creating an amazing experience for themselves first are empowered and positioned to create a really great Client Experience.

Just like when flying, make sure to put on your oxygen mask first, then help those around you.

Be the example your clients are looking for.  Make it a point to be happy, excited, motivated, and living the life of your dreams.  This will resonate with your clients more than anything else.

Once you have this sorted then the following tips are crucial.

Embrace Technology

The first step to better serving your clients is to embrace technology. Yes, it is fast-paced and ever-changing, maybe even confusing, but connecting with your clients requires an understanding of the environment where they are most comfortable.

Whether this means communicating with them on a platform that they choose or learning to use a new app, embracing technology is paramount to maintaining a good relationship with your clients.

embrace technology and social media

Create A Virtual Relationship

Forming a relationship with your clients online includes building trust with them from scratch. Without face-to-face interactions, building trust in a virtual environment needs to be intentional because, ultimately, this will be your key to success.

Get to Know Each Other

Make sure you get to know your clients personally – tell them about yourself and arrange video calls with them. Fostering any good relationship begins with getting to know someone and being genuinely interested in their lives.

having video calls with clients

Proactively Communicate

Without real-life meetings, clients can feel like they’re getting lost in the fray, so it’s crucial to actively communicate with them and make them feel important to you.

Set a reminder to check in with your clients regularly, to touch base and reconnect. Even if it means sending out some useful tips or some extra personalized advice – providing value to your clients is also an excellent way to connect and maintain a good rapport.

Work with Their Needs

Chat with your client about how they’d like to work, whether that be seeing a presentation, a monthly video call, or simply an email. Making them feel comfortable involves finding out their preferences and molding them with your own.

New-age clients often like to see their stats and information in real-time, so be prepared for that and find software that could allow for that.

Set Clear Goals

At the outset, make sure that you know your clients’ goals and explain how you can work together to achieve them. This will show your client that you’re committed to understanding them and what drives them. Show them that you’re invested in their needs.

Spending some extra time on creating a solid relationship with your clients will go a long way to building trust and creating a dynamic where you can lead your clients towards making the best financial decisions.

Show A Robust Digital Footprint

Clients are now particularly interested in your digital footprint, which is essentially how you appear online. To gain new clients or build trust with current ones, I advise having a robust digital footprint.

This includes being active on social media channels, having a great website, and communicating a variety of content (personal and professional) through these channels.  People tend to trust someone who has an influential digital presence over someone who doesn’t, and it’s quite simply because they can see what you’re all about.  Don’t be a creeper, be a creator!

Tell them about who you are, what your focus is, and how you can help them. If they can find you in a quick Google search, you’re on the right track. Let’s face it; we all Google someone before we go ahead and use their services or buy their product. Adding in social media channels and a blog, would further solidify your digital presence and add to your credibility.

financial advisor google ranking

Conneqtor can help

If you’re feeling overwhelmed by the idea of adjusting to this digital world, I can help. My virtual advisor system, Conneqtor, teaches you how to leverage all the tools that you need to transform your business into a virtual or semi-virtual one.

My system will lead you step-by-step into the virtual space, and help you get more leads by showing you how to establish a digital presence.

Get in touch with me. Let’s get you set up in the virtual financial planning world so that you can meet your clients where they’re at, foster your current client relationships, and build new ones, the modern way.

I hope you found this of value!

Kind regards,

Derek Notman

Riskalyze Session Replay: The Brick & Mortar Financial Advisor is Dead!

riskalyze week in review

Long Live the Virtual Financial Advisor

The wave of change has crested the financial services industry. The traditional financial advisor has to learn to ride it, or be crushed by it.

As financial advisors begin to navigate the inflection point that was catalyzed by the COVID-19 pandemic, its imperative that we as an industry begin to not only acknowledge, but embrace the fact that technology has evolved to a point where our ideal clients are beginning to expect a different, more streamlined service from us.

Our founder, Derek Notman, was privileged enough to present at this years Riskalyze #Fearless Week last week. In future fashion, this year Riskalyze had no other choice, but to embrace a virtual alternative to their regular conference format, which actually made the conference more accessible to advisors across the globe.

View Derek’s session below:

Riskalyze Virtual Conference Agenda

  • The Financial Advisor of the Future.
  • Why does any of this matter?
  • Who is Derek Notman?
  • A global megatrend.
  • The consumer has evolved.
  • The financial advisor is stuck in 1985,
  • How Conneqtor is empowering advisors.

the financial advisor of the future

What can financial advisors do right now?

It might seem like we are just throwing around a bunch of concepts and telling you to accept them. No, we are just introducing you to a very apparent reality and want you to know that the solutions are with in virtual reach.  These changes were already underway, COVID-19 simply sped them up.  Advisors must evolve along with the rest of the world.

If you want to know more about what it means to adopt a (semi) virtual financial advisor model, then we highly recommend downloading and starting with our free e-book. It is for lack of a better phrase, a virtual step in the right direction.

If you’d like to chat more about what Conneqtor can do for you, please do not hesitate to get in touch.

Thank you!

Cheers,

Derek Notman

How Technology is Transforming the Financial Advisory Practice

technology for your financial practice

COVID-19 has forced us all into an experiment.  A “virtual” experiment where all of us had to go digital. We have had to embrace communicating virtually and have no choice but to conduct business online. The effects on the traditional financial advisory practice are obvious.

Whether a result of the pandemic or younger generations coming of age, according to the founder of The Rudin Group, April Rudin, in a recent article in ThinkAdvisor, 64% of high-net-worth individuals are counting on their future financial advisor relationship to be entirely digital.

For the financial advisory industry & practice, technological disruption is actually a positive thing; we are no longer limited by location, or, in fact, the high capital demands of the traditional brick & mortar office model.

As a driver toward the adoption of digitalisation, coronavirus has allowed us to test some of the digital processes that were more than likely only part of future plans – and guess what? It works well – incredibly so.

I took the leap over six years ago, being one of the pioneers of virtual financial advisory, and back then there was a lot of trial and error – many were not onboard with the idea. Slowly but surely though, my clients soon realised how much simpler it is.

Receiving advice or giving advice from the comfort of your own home is easy, and you save a great deal on overhead.

Embracing digitalisation has certainly been the silver lining amidst the these trying times. Here are some of the major transformations I have seen, combined with some insight from April Rudin.

embracing digitisation

You Have the Ability to Shape Your Next-Gen Clients’ Perceptions

For the next generation, the financial & societal impacts of the pandemic are the first monetary relationship crises they have ever been through.  How will they react? How will it impact how they perceive planning, investing, and saving?

Their future is in your hands; you have the power to influence their perception. You can shape it virtually – more like a partnership as opposed to the advisor/client relationship we have seen in the past.

This power, or influence rather, is a great responsibility. By becoming more accessible to your clients, your relationship grows deeper – meaning your approach needs to be more holistic.

Relationships Are More Important Than Ever

When strategizing for the future, virtual financial advisors need to focus on building relationships. Relationships are no longer based on financial return only – they are based on overall advice; giving clients direction – how they should spend their money and what decisions are best for securing their ideal future.

zoom call with financial advisor

Your Online Presence Needs to Be More Compelling

As I have mentioned in previous articles, your presence online is the most vital aspect of being successful as we emerge into the new normal.

Your website cannot simply state your service offerings and a bit of a background like before. If you are to survive as the next generation comes of age, your story, what you offer and how you advise needs to resonate with your audience. Your website is where you live – your new head office, your digital storefront, and the internet is where your client’s shop. Your website is essentially your practice now, and all your communication and activity online needs to align with that. This is what the next generation requires.

You need to tailor your approach to make your clients’ experience more personal. It is time to revaluate your brand.

Further to this, social media has become social selling and is a great opportunity for you to grow and expand your business. It is more about building relationships rather than acquiring clients.

You will Need to Help Your Clients Build A New Kind of Life

Gen Xers and Millennials are opposed to working tirelessly now, only to live life to the full in their twilight years. You will be required to help them build a life that looks a lot different than previous generations.

Next-generation clients are accustomed to moving quickly, switching jobs almost annually, and using technology in absolutely everything they do. They want to build lives centred around a combination of exiting life experiences now while balancing for the future, rather than working hard now and retiring at age 65.

Try Conneqtor

If you are feeling overwhelmed by the impact technology is having on your business, consider Conneqtor. My virtual advisor system offers a hand-in-hand, step-by-step guided migration to a virtual financial planning practice that operates like a virtual sales engine, bringing in leads to you through a robust digital marketing footprint.

It is time to adapt. Afterall, the impact technology has had on the financial advisory practice is permanent; there is no going back.  Human behaviour has changed.

Stay ahead of the curve.

I hope you enjoyed reading.  Want more?  Check out my eBook, The Virtual Movement Proclamation.

Kind regards,

Derek Notman

How Becoming a Virtual Financial Advisor Keeps You Ahead of The Curve (Forever)

staying ahead of the curve as a financial advisor

During the COVID-19 Pandemic, most businesses have struggled to survive. There are so many that rely on in-person interaction, and they have taken a huge knock, especially the travel and hospitality industries.

As a financial advisor, though, you are in an incredibly unique situation. You can run your entire financial planning practice online. In fact, by transforming your practice into a virtual one, you will not only survive the challenges of doing business during this tumultuous time, but you will thrive and stay ahead of the curve forever.

As a financial advisor who made the virtual migration over six years now, my business is booming at the moment. Although I have felt the effects from a social perspective just like anybody else, my business is rocking!

Tradition Vs. The Future

Although the finance industry is traditional and relies on face-to-face interactions, you can still operate remotely with the technology available today. It may even be more suited to your target audience.

I run my entire practice remotely from my home office and have the freedom to run my business from anywhere in the world, at any time of the day.

The best part? My overhead is minuscule in comparison to what I used to have to fork out when I was running a physical practice.

Most of my clients prefer communicating via a virtual meeting, conference call, or combination of the two as they can take my call from the comfort of their own home, or from anywhere really – whatever suits them – no more commuting or prepping before meetings.

The benefits of holding virtual client meetings are now evident to everyone, but they were not so clear just a few months ago. The future is now.

virtual financial advisor zoom meeting

Being A Virtual Financial Advisor Is Simpler

“Why should I spend days on end traveling, away from my family, if I can conduct business just as effectively online?” This is a common answer I get from advisors when I ask how they are coping with the new normal.

If anything, COVID-19 accelerated what we all knew was inevitable; a fully digital world.

Why would you pay thousands of dollars a month on office space, or spend a fortune on travel expenses to meet with and maintain your client relationships when you can have the same impact on their lives digitally? It’s illogical, no matter which way you look at it. Being a virtual financial advisor is simpler, cheaper, and easier to control.

As business owners, yes, most financial advisors should consider themselves business owners, we must look at things from a place of logic and scalability.

Generating Leads as A Virtual Financial Advisor

When speaking to my peers, their primary concern of going fully digital is almost always lead generation. How do you find clients without leaving your home? Quite simply, you need to rethink your approach to communication and marketing.

Although, theoretically, much of how you run your financial planning practice remains the same, your approach to sales needs to change, and it needs to change fast if your business is to survive.

It comes down to adapting your approach to your consumer’s needs. To stay ahead of the curve, you need to create a virtual presence that drives inbound clients to you while enhancing the client/advisor experience.

Your lead generation will be a direct result of how much effort you put into digital marketing. As of March 2020, 1.8 billion people do their shopping online, and half of those people shop from their handheld devices. When we refer to shopping, this includes shopping for services such as seeking a lawyer or financial advisor.

Those numbers are only going to increase, so you would be doing yourself a disservice by failing to adapt. You’ve got to sell your services in the place where your audience lives, and according to the statistics, that place is online.  You simply can’t argue with the data!

digital marketing for financial advisors

Staying Ahead of The Curve

Although the transformation to a virtual business takes some doing, don’t be spooked – luckily, I have paved the way for you. You don’t have to endure the trial and error I did. As a result of my experiences, I decided to create a virtual advisor system called Conneqtor.

I understand what it takes to run a virtual financial planning practice and have thought about absolutely everything.

Conneqtor will show you, step by step, in great detail how to:

  • Hire a team of virtual assistants
  • Build a virtual client contact/service module
  • Communicate digitally over email and social media
  • Create a website that converts leads
  • Create a blog and use it to generate leads
  • Use social media for brand awareness
  • Use SEO to generate leads
  • And so much more….

To learn more about how my system can help you, download our free ebook today.

Thanks for reading!

Now, go get ahead of this curve before it passes you by!

Kind regards,

Derek Notman