5 Tips for Becoming A Virtual Financial Advisor

5 Tips for Becoming A Virtual Financial Advisor During & After the Covid-19 Pandemic

The COVID-19 pandemic has forced businesses of all kinds to rethink how they work and interact with clients, including financial advisors.

We have had no choice but to turn to video for communication, and we are learning very quickly why this is the preferred method of interaction with younger generations.

With video, you can communicate with anyone from anywhere in the world, and as a virtual financial advisor, this is incredibly beneficial.

Building and maintaining relationships with your clients over video is just the first step, though, as there are other important factors to consider for a successful virtual financial practice.

As you transform your practice into a virtual or semi-virtual business, use these five tips to drive success.

1.  Invest Time into Your Practice’s Future

Business may be slow at first during the pandemic, and as you migrate online, but I see this as the perfect opportunity to use this time to determine how you can streamline your business for when you’re back in full action.

How about embracing business process automation? Thanks to technology, you can now have the administrative side of your business (the mundane tasks) fully automated! Here are some examples of the work you can automate:

  • Jobs you do every day or on a schedule
  • Functions that involve capturing and moving data between applications
  • Mundane tasks that do not require problem-solving
  • Tasks that distract you from what you love doing

As you migrate online, automating your processes will help you as you build a virtual staff.

financial advisor mailchimp rss feed automation

2.  Marketing For The Next Gen Financial Advisor

If you look at your competitors, you will have noticed that many of them have cut down on marketing during the pandemic.

My advice is to put even more emphasis on your marketing efforts.  People arguably need our advice and services more now than ever.  You’re offering them a solution for during this time, so make it known.

As you transform into a virtual financial advisor, your overhead can drastically be reduced, I have dropped mine by ~60%!  Consider using some of this to invest in your marketing – this is how you can gain a competitive edge in the months and years to come.

You also will free up a significant amount of time by embracing the virtual or semi-virtual model which can now be allocated in part to spending more time on creating content for free social sites like Facebook and LinkedIn which are a great way to increase your marketing reach while not costing you a penny!

facebook ads for financial advisors

3.  Use Conneqtor To Get You Started

Yes, I created Conneqtor to help advisors around the world.  But first built my virtual practice for me, to make more money while getting my life back and having an awesome life/work balance!

So yes, I admit that this is a little marketing plug from my side, but Conneqtor is a system I have created to help you migrate your financial planning practice online. More specifically, it’s a system that will help you generate leads 24/7.

It will teach you how to build a virtual or semi-virtual financial and insurance practice that will empower you to:

  • Make more money while expertly managing risk
  • Find and work ideal clients through predictable lead generation
  • Work from anywhere in the world while expanding your reach
  • Leverage your money and time to improve effectiveness while achieving an excellent work/life balance

I have successfully run an MDRT* Court of the Table financial practice, almost 100% virtually since 2013, so I have a deep understanding of what it takes.

the virtual advisor system for financial advisors

4.  Build Stronger Personal Relationships with Your Clients

So, you can no longer take your client out for dinner or a coffee, but you can use video to connect with them.

When people need to be selective about who they work with, they will commonly approach those who identify with them on a personal level. As a virtual financial advisor, you are dealing with arguably the most intimate aspect of a person’s life – their wealth and future.

Your catch-up calls don’t have to be all-business though. Introduce them to your loved ones and pets. Share your challenges and what you have been up to during the crisis – how you’ve been keeping sane. Talk to them about their problems and what they’ve been up to, and ultimately use this time to connect and develop stronger bonds with your customers.

Even little things like sending them a short video to wish them a happy birthday can make all the difference and show them you are thinking of them.

5.  Financial Advisors Should Create Valuable Content

In the meantime, as you transition to a virtual practice, take this time to create valuable content that will attract prospective clients.

Your audience lives online, even more so now, and the best way to get them interested is by giving them something of immense value for free. You are an expert in your field, so share some of your insight with your audience online. Be it through blogs, an eBook, explainer videos, or infographics, show your prospective clients why you are their best bet.  It could even be as simple as basic posts in places like LinkedIn and Facebook.  Be present and drive value!

I hope this helps and that you found my article insightful! If you would like to find out more about Conneqtor, get in touch with us.

Kind regards,

Derek Notman

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