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Modern business practices often overuse terms like ‘streamlined’ and ‘optimized.’ While improving efficiency is important, it shouldn’t compromise intentional client connections. Fortunately, you can balance both. Here’s how to reduce manual processes, upgrade your tech stack, and maintain strong client relationships.

Solid client connections

Undoubtedly, strong client connections are the bedrock of an independent financial adviser’s success. From the client’s perspective, IFAs are not just financial managers, but trusted partners invested in their financial well-being. However, fostering these connections requires a deep understanding of the client’s wants, needs, goals, and fears – a task made difficult when manual admin tasks consume your productivity and capacity. 

Still, IFAs can no longer afford to put client connections on the back burner in the name of improving efficiency. A recent report by Vanguard titled ‘From Portfolios to People’ stated that 94% of investors were likely to make a referral when they “highly trusted” their advisor, and ultimately, building starts with building client connections. 

Which brings us to our next point: How? Especially if you feel like you’re running against the clock as-is. 

Building business efficiency without losing the client connection

How can you make time for clients when you literally don’t have any to spare? To do this, we need to look at the three fundamental principles of building client relationships: Communication, Consistency and Personalisation. These elements contribute to establishing trust and ensuring clients feel heard, understood, and supported in their financial goals

  • Communication

Each client needs to feel valued and actively listened to and understood. This includes regularly providing updates and feedback and promptly (and proactively) responding to any inquiries or concerns they may have. . To do this, you need real-time, easy-to-access insights into each client portfolio without stealing immense time out of your day. 

  • Consistency 

Nothing breaks trust quicker than error-prone or unreliable services. Consistency is imperative to build and maintain strong client relationships. This not only means delivering consistent results but also creating a sense of dependability. However, this can prove challenging in the fast-paced and quick-to-change financial markets. To combat this, IFAs can commit to continuously improving their skills and knowledge to adapt to meet the evolving needs of their clients.

  • Personalisation

Finally, a strong relationship means understanding their portfolio and having access to the necessary data, analytics and insights to provide a tailored solution and intentional advice that speaks directly to their pain points, challenges and goals. 

Investing time into building (and maintaining) strong client connections with Commspace

The key factors that steal productivity from independent financial advisers are administrative tasks, such as revenue tracking and commission management. 

Cue Commspace; one beautiful platform for all your IFA needs. 

At Commspace, we understand the need to balance productivity with maintaining trust and strong relationships with clients, which is also crucial for financial advisers. With core capabilities such as powerful allocation, visual analytics and automatic data ingestion, IFAs can effortlessly streamline and optimise business-critical tasks. 

This not only saves time but also provides real-time access to client data and analytics, empowering IFAs to personalise their services while keeping a finger on the pulse of the financial market. Imagine the relief of having all your IFA needs met in one beautiful platform. 

Ready to discover efficiency meets connection? 

We’ve got you covered. 

Book a demo here