Ken Davy  

Technology is key to serving your clients

Ken Davy

Ken Davy

The past few weeks, and particularly those since we entered lockdown, have been unsettling for every single one of us, and we are all having to reshape our working patterns and use our time differently. 

I am sure you have given lots of consideration to the best way to support your clients in the current situation, and strengthen your business in the long term. 

Firstly, I imagine you will say that your top priority was keeping in close contact with your clients.

The importance of keeping in contact with your clients at this incredibly difficult time cannot be overstated.

When this dreadful period has passed, your clients will remember that you were the one who was there for them when their concerns were at their highest.

Secondly, this is the time to make sure that you are the best you can be at remote communication with your clients, so that you are primed and ready for the new world, which will emerge after this pernicious virus has passed into history.

The way we communicate is changing fundamentally and I am confident that, when so-called normality is restored, many of these behavioural changes will have become embedded into our day-to-day lives.

I am not saying that meeting face-to-face will not remain the best possible way to interact with your clients, but you and they will have recognised that virtual contact is quicker, cheaper and more convenient for probably 90 per cent of the interactions you have between you.

Thirdly, you need to ensure that you use the time you have now, to streamline every aspect of your business to ensure you are ready to cope with the massive increase in business that is on its way.

This particularly applies to your virtual communication technology, as otherwise there is a real danger you could be swamped by the sheer volume of work you are likely to receive once Covid-19 has passed.

Not only will every one of your existing clients need to review, and potentially rebuild, all their investment and retirement planning, but many thousands of people who have never previously used an adviser will now be knocking on your door.

When reflecting upon the Covid-19 crisis, if you consider the points above, I believe you will know that you looked after your clients, accessed the technology needed to serve them and readied your practice to serve more clients, more easily and more profitably.

Ken Davy is chairman of SimplyBiz Group