The Consumer Convenience Era and How Advisors Can Keep Up

October 6th, 2021, 12:00 AM

Convenience is evolving into an essential element of any successful business. According to WealthManagement, advisors need to improve their digital experiences with clients to stay competitive. 

Advisors must think through how they will make themselves available in this consumer convenience era. The old relationship model of setting meetings quarterly, annually, and semi-annually is becoming obsolete. Advisors must decide how to pivot to convenience and be readily available when and how clients need them. For example, clients are opting out of annual or semi-annual meetings for information broken into smaller amounts and delivered on-demand. 

As the culture of convenience progresses, the responsiveness and flexibility of advisor firms' client experience models will become a more significant factor in attracting new clients and referrals. Readily available, easily implemented technology will enable firms to facilitate a convenience-driven client experience quickly. 

The founder and CEO of Herbers & Co, Angela Herbers, recommends that firm executives take the global shift to a consumer culture of convenience seriously. Firm executives should consider investing in calendar enhancements, time tracking software, and client-facing, more robust financial planning software.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.

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Blog

The Consumer Convenience Era and How Advisors Can Keep Up

October 6th, 2021, 12:00 AM

Convenience is evolving into an essential element of any successful business. According to WealthManagement, advisors need to improve their digital experiences with clients to stay competitive. 

Advisors must think through how they will make themselves available in this consumer convenience era. The old relationship model of setting meetings quarterly, annually, and semi-annually is becoming obsolete. Advisors must decide how to pivot to convenience and be readily available when and how clients need them. For example, clients are opting out of annual or semi-annual meetings for information broken into smaller amounts and delivered on-demand. 

As the culture of convenience progresses, the responsiveness and flexibility of advisor firms' client experience models will become a more significant factor in attracting new clients and referrals. Readily available, easily implemented technology will enable firms to facilitate a convenience-driven client experience quickly. 

The founder and CEO of Herbers & Co, Angela Herbers, recommends that firm executives take the global shift to a consumer culture of convenience seriously. Firm executives should consider investing in calendar enhancements, time tracking software, and client-facing, more robust financial planning software.

Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.

Return to All