By Marcus Roth, Simplicity Lone Beacon’s Senior Director of Data, Automation & Content.
Independent financial advisors are entrusted with a significant responsibility: safeguarding their clients’ retirement savings. It’s no surprise that clients expect an assurance that their savings are in capable, professional hands, and that any arising issues will be promptly and professionally addressed. Clients place their trust in their advisors’ judgment since they, themselves, are not experts. If they were, they would not need the services of a financial advisor.
However, there is an additional, often overlooked aspect that plays a critical role in shaping clients’ perception of their advisors’ professionalism: communication channels. Clients rely on their advisors to maintain vigilance, not only regarding the nuts and bolts of financial matters dynamics but across all aspects of their business which includes their communication and client services.
So, for a moment, put yourself in the shoes of one of your prospective clients. How differently would you feel about receiving an important email from both of these email addresses?
Consider these two email addresses: Marcusfinancial@gmail.com and marcus@marcusfinancial.com.
One seems more professional than the other because one utilizes a professional email domain versus a generic email domain. An email domain is the letters, numbers, or symbols that proceed the “@” symbol. In this example, the first uses a generic email domain – a prevalent practice, even among midsize advisories. The latter employs a unique domain, which on its own speaks volumes about the business’s commitment to professionalism and qualified, legitimate services.
It might seem like a minor detail. However, the use of a unique domain for communications conveys a sense of trust and authority. It silently assures the client that their advisor operates a reputable business stable enough to invest in its brand and put effort into how they present to their clients and prospects.
Some critics might argue that clients don’t pay attention to such minutiae. However, this viewpoint is short-sighted for two reasons.
Firstly, the goal should always be to attract vigilant, sophisticated clientele who appreciate the finer details. Lowering your standards to accommodate clients who are less discerning will, in the long run, diminish the value of your brand AND result in dealing with those types of clients in the day-to-day.
Secondly, today’s retirees – the primary demographic seeking independent financial advisors – are more tech-savvy than previous generations. They’ve used email throughout their careers, regularly attend Zoom meetings, and are comfortable with text messaging. The technological gap that existed with older generations is shrinking, and relying on this gap as an excuse for sub-par standards is no longer viable.
In essence, successful financial advisories should strive to treat their clients as more than just numbers on a spreadsheet. They should work to cultivate strong, personal relationships, uphold the highest standards of professionalism, and demonstrate technological savvy across all facets of their operations.
Next time you’re sending out that email to a client or prospect, take a moment to consider this: What does your email domain say about you and your business? Successful financial advisories should exhibit vigilance, professionalism, and technological aptitude in every facet of their business, and especially when it comes to your email practices… So, don’t cheap out.
About the Author: Marcus Roth is Simplicity Lone Beacon’s Senior Director of Data, Automation & Content. Marcus has a unique experience in B2B and B2C start-up companies ranging from enterprise-level market research of Artificial Intelligence to self-defense eCommerce products. His experience in AI market research brought him, and his research, to INTERPOL, The United Nations and Harvard University.
