It’s no secret that financial advisors are facing an increasing set of challenges as 2023 progresses. When it comes to managing and growing their practices, advisors have to think about scaling personalization, optimizing coaching and upskilling, reducing time spent on administrative tasks, and adhering to compliance requirements.
Higher client expectations, and keeping up to date on market developments can put a strain on an advisor’s daily workload. To adapt, advisors need to take a client-centric approach and deepen existing relationships while improving efforts to establish new ones. Enablement technology can help advisors address these challenges and more.
The benefits of an integrated platform
The importance of a strong, cohesive tech stack isn’t new to the financial services industry. However, many firms aren’t fully leveraging their existing technology investments. According to Cerulli, 69% of advisors believe they can make better use of their existing tech stack. This includes implementing an enablement tool that will help drive new client acquisition.
Enablement technology can automate several manual administrative tasks. This can free up time for advisors to create personalized experiences for their clients. The best enablement technology features a centralized content library that provides advisors with AI-powered, hyper-relevant content recommendations. This ensures advisors can easily access and customize the latest and greatest content for their clients’ unique financial situations.
Enablement software also provides in-depth visibility into client behavior and content engagement. Because enablement tools allow advisors to email content instead of attachments, advisors can monitor how and when a client opens a link, as well as the amount of time they spend interacting with content. This data is a helpful indicator of the content and topics that drive the most engagement which helps advisors optimize content experiences over time.
Enhancing the client experience across channels
With the rise of Gen Z clientele, it’s crucial now, more than ever, for advisors to increase their social media presence. Enablement technology includes employee advocacy and social selling tools that automatically search thousands of publications for content that’s relevant to an advisor’s target audience. This allows advisors to share engaging and compliant content that advisors can use to connect with current and potential clients. It also suggests the best times to share content in order to maximize engagement with an advisor’s prospects.
Engaging on social media and sharing content is just one vehicle for growing meaningful client relationships. When it comes time to meet with a prospect or client, advisors need to be ready to answer questions and provide helpful, relevant information. This helps refine best practices associated with client meetings as it uncovers the nuances that make for a high-performing meeting, and it pinpoints what additional training and coaching gaps need to be addressed.
Delivering modern training and coaching
Effective training and coaching can help advisors stay on top of current trends that are relevant to their clients. Enablement technology includes learning tools that provide a single, integrated environment where it’s easy to create, edit, and deliver bite-sized, media-rich lessons and quizzes that advisors can take virtually anywhere. These lessons are also available on-demand, so advisors can access content as often as needed. This technology can also provide practice modules that simulate real-life client scenarios. After an advisor completes the simulation, AI-driven tools provide real-time feedback on their performance.
Enablement technology can also share timely learning and coaching feedback at scale by aggregating results to identify strengths and areas for improvement. By pulling data on lesson completion, quiz performance, and skill improvement, firms can see the direct impact lessons have, not only on individual advisors but also on their teams.
Ready to drive client acquisition and engagement?
When it comes to acquiring new clients and growing existing relationships, financial advisors need access to tools that will help them personalize content, make data-driven decisions, and stay up to date with the latest and greatest information. The Seismic Enablement Cloud™ empowers advisors to do all of this while adhering to compliance regulations.
Seismic can help create a process to standardize, automate, and enhance the creation and delivery of client meeting presentations while gaining visibility into their engagements. Advisors can also assemble personalized client materials within minutes while leaders can gain insight into what’s working and attract top advisor talent. Seismic’s product capabilities, along with professional services and partners, address the growing needs of advisors who are looking to grow client relationships and expand their offerings. Schedule a demo if you’re ready to learn more.
