More financial services firms are starting to join the behavioral awareness movement.? Why?
Behavioral theories now have proven hard-edged results. By engaging clients on their terms, financial services firms can increase revenues and manage their compliance risks.
1. Give your advisors bigger behavioral data
93.6% of financial planning is behavioral management of the client. As described in What Drives Your Financial Decisions, an advisor needs to know deeper traits of the client such as personality style, emotions, listening style, communication preferences, confidence level and desire to control.? And, this behavioral data needs to be at the fingertips (via CRM) of the advisor and their staff.
2. Provide a client engagement solution for your advisors
In a recent survey by Practical Perspectives, one of the top topics of interest to advisors is client development and engagement.? Advisors are not interested only in theory.? What they really want is a program that is actionable and implementation-oriented.
3. Lead by example with your advisors
Does every employee that interacts with your clients know their communication preferences and behavioral style?? Research shows a 40% decrease in repeat calls when a call center rep tailored their response to match the unique personality of the caller (client).
Isnt it time to recognize individual differences and become behaviorally smart?
Discover the action steps to take now at www.financialdna.com.