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Keep It Personal from a Digital Distance

Personalization versus the pandemic

Covid-19 or not, consumers still want financial advisors to provide them with an experience that is as personal as an online retailer like Amazon. However, not all financial advisors or wealth managers are keeping up with this time of crisis-fueled change. Another Broadridge survey polled North American advisors on how they’ve altered their practices since the pandemic began. Eighty-nine percent reported that their firm-provided technology tools had become more critical during stay-at-home mandates. However, 77% reported losing business due to inadequate technology. Additionally, 82% said that too much time spent on manual paperwork kept them from counseling clients, while 51% were considering moving to a firm with better resources.

As investors have grown accustomed to this new way of working with advisors, the majority said they’re in no hurry to return to the past. There’s still time to catch up; wealth managers can increase their advisors’ effectiveness in offering counsel and assurance from a safe digital distance by:

  • Activating all digital channels. Making your presence known through your clients’ preferred channels gives them a private, non-obtrusive way to stay close to you and still remain at a distance.
  • Launching customized campaigns. Your clients’ preferred channels also provide a way to initiate dedicated campaigns with positive messaging to those who need urgent assurances, encouragement, fresh ideas and other information during the pandemic. Dedicated help lines for inbound calls can also trigger customized digital responses through email, social media and texting.
  • Tracking and analyzing digital interactions. Through Artificial Intelligence (AI) and Machine Learning (ML) you can also identify the topics your clients care about the most as you supply them with more personalized content and recommendations through the volatile days ahead.

A unified flow of personalized communications is the golden thread that runs through each client journey and beyond today’s pandemic. Growing digital engagement now can help keep advisors productive and responsive – and clients even-tempered.

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