Financial Planning businesses of any size can create immersive client experiences by focusing on personalisation, engagement, and memorable interactions. Here are ten strategies to consider:
1. Personalised Onboarding Experiences:
Start client relationships with a highly personalised onboarding process. Use technology to gather insights about their goals, concerns, and values, then design an onboarding experience that addresses their unique needs. Offering a dedicated “welcome” session with an advisor to outline the process and personalise the journey can create a sense of trust from the beginning.
2. Interactive Workshops and Seminars:
Host interactive educational events that focus on relevant financial planning topics. These can be online or in-person and structured around engaging, hands-on activities e.g. investment strategy, estate planning and virtual fly-throughs of retirement estates. Incorporating interactive elements like polls, Q&As, and scenario simulations can make these workshops more memorable.
3. Virtual Reality (VR) and Augmented Reality (AR) Tools:
While this technology might seem cutting-edge for financial planning, VR and AR can help clients visualise their financial futures. For instance, showing a virtual projection of their retirement lifestyle based on their savings rate can be impactful. Coupling this more advanced technology with your scenario planning or modelling software will create something truly differentiating as you take your clients on a journey from 2D graphs to 3D immersion.
4. Financial Health Assessments and Progress Dashboards:
Offer a personalised financial health assessment to provide a comprehensive overview of a client’s financial situation. Then, create an engaging digital dashboard that tracks their progress, milestones, and areas for improvement. This helps clients feel immersed in their journey, see progress in real time, and stay engaged.
Just a word of caution in giving away too much of the planning function and removing advisors from the process. A 'current picture' is sufficient.
Also, be sure to separate psychometric tests from anything financial, and treat them separately. The former may inform the latter but the work required is personalised and should be done by the advisor to maintain strength of relationship.
5. Customised, Goal-Oriented Experiences:
Tailor the experience based on specific life stages or goals (e.g. first-time homeownership, saving for education, or planning for retirement). For example, you could have unique programs for young families versus retirees, each designed to address their unique needs and offer resources, tips, and timelines that resonate with them.
6. Exclusive VIP Events and Experiences:
Host exclusive events, such as luncheons with financial experts, meet-and-greets, or trips to relevant financial forums. Special access can make clients feel valued and part of a community, deepening their connection to your firm.
7. Storytelling Through Case Studies:
Share success stories and testimonials that align with the client’s personal journey. Illustrating how others with similar goals have reached success through your services can be inspiring and immersive, especially when these stories showcase the potential of the client’s own journey.
8. Gamification Elements:
Implement gamified financial planning tools or modules, such as budgeting challenges, savings rewards, or simulation games. These can make financial planning fun and help clients remain motivated. For instance, a savings leaderboard or a points-based system for completing financial tasks could increase engagement.
The seemingly simpler exercises should be reserved for the larger businesses, while the more complex exercises would be more appropriate for the smaller business that can personally follow-up and engage with their clients around their gamification experience.
9. High-Tech Meeting Experiences:
Equip your office or virtual meeting space with technology that allows for seamless, interactive discussions, such as smart whiteboards or video conferencing with screen-sharing for document reviews. Creating a visually rich, interactive environment can elevate the client’s experience and make the planning process feel dynamic.
10. Regular Check-Ins with Personal Updates:
Offer more frequent, brief touchpoints that update clients on their progress or provide quick insights into market changes. A quick, personalized video update, for example, can go a long way in making the client feel connected and in the loop.
By designing immersive and personalised experiences, financial planning businesses can deepen client relationships, inspire trust, and make financial planning a meaningful journey for clients.
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