How can advisers communicate better?
If you haven’t yet discovered the CFA Institute’s Enterprising Investor blog, take a look; it’s a mind of useful information and thought-provoking opinion.
The latest post to catch my eye was an interview with Tom Brakke entitled Poor communication hurts performance.
Too often in the advice profession, Brakke rightly argues, communication skills play second fiddle to analytical skills. Of course, both are important, but if you can’t communicate effectively, you’re not going to win many new clients, and nor are you going to give your existing clients the investment experience they deserve.
In a nutshell, Brakke says:
there will be times when performance disappoints, so clients need to understand what you’re doing and why;
advisers should seek feedback from clients about their communications and how they could do communicate better;
firms should put someone in charge of ensuring that their written and verbal communications are of the highest standard;
you should make your communications visually appealing, and focus on graphics that help to tell the story;
ensure your content is accessible and easy for ordinary people, with no connection to the finance industry, to understand; and
communication works both ways, so you also need to hone your listening skills.
Remember, if you need help with your firm’s communications, whether it’s with your blogs or videos, or your social marketing, my colleagues at Regis Media will be happy to help you.