With stay at home as part of our current work environment it is very evident we need to change how we do business.
This is also a great time to be innovative and try new ways to improve efficiencies. These are some of the ideas and practices our company is implementing.
1. The most popular way of communication change and although has been around for decades, (becoming new to some of us) is video conferencing and virtual meetings. Gotomeeting will continue to be very popular but another resource is Zoom. If you do have a laptop with a camera and audio capability, or a desk top with camera and mic, I would consider downloading the ap. It is very user friendly, even I was able to figure it out, and works really well with small groups or one-on-one meetings. We have also learned that Zoom can be very popular with school employees and several teachers are using it as the e-learning tool.
Of course, there are several other platforms like facetime and Google Hangout. No matter what platform you find that fits you, being confined to either office or home is the absolute best time to make this type of communication be part of your future. I have found clients and staff are a little timid at first but the more we use them, the more comfortable we will all become. It is time to rip the band aid off or in some cases, rip the tape off the camera!
2. Even if you are accustomed to using video conferencing, it is hard to beat the oldest style of communicating from a distance resource, the telephone.
3. Whatever your style, I can’t emphasize enough the importance of making personal contact with every client.
Advisors need to be calling clients more often then ever before. It is likely to seem like a daunting and stressful task of calling clients but I can tell you from personal experience, it is absolutely the most rewarding exercise you will ever do! Clients love to know you have their back and are looking out for their financial best interest. One night, I even had a client who as we were saying good bye, said, ”love you.” I think it might have been a slip of the tongue or habit after talking to children or grandchildren; either way, it did make me feel good.
Additionally, I was recently asked by the city of Cambridge, MN, with a population of just under 10,000, to be on the board for the Cambridge Area Community Foundation. I happily accepted this opportunity to help my community in any way that I could. Small businesses in lower populated areas can sometimes struggle to keep a thriving downtown. As big box stores have moved into the outskirts, it is important to the city leaders to see how other local business leaders can help. In conjunction with the local healthcare systems, banks, realtors, and other local merchants, we worked together for the benefit of all.
When COVID-19 hit, there was an immediate impact on several local restaurants, clothing stores and other merchants. We immediately instituted a fund-raising challenge and I personally challenged other businesses to match my donations. We also regularly bought lunches for staff from local restaurants who had carry out to support their businesses. It is exceptionally rewarding to band together with other small business owners and watch the compassion and financial support emerge in order to keep each other afloat during these unprecedented times.
For everyone: Stay safe and stay healthy!
Kent Schutte is President of EFS Financial Advisors. He is a 2018 Elite Advisor.
Opinions expressed are those of the author, and do not necessarily reflect the views of NTSA or its members.
About the Elite Advisor Award
The NTSA Elite Advisor Awards focus on NTSA financial advisors' innovative, unique, profound and successful best practices for advocacy, leadership, practice management and legacy. Nominations are open through Sept. 11 for the NTSA 2021 Elite Advisor Awards here. Full terms and conditions are here.
WOWcasts Available
Schutte was featured in the 3rd WOWcast Series.
In Part I, Past NTSA President Randy Aranowitz interviews EFS Financial Advisors President Kent Schutte and EFS Financial Advisors Senior Financial Advisor Josh Decker discuss their business and marketplace.
In Part II, Schutte and Decker discuss their philosophies for working with advisors, the agency career path for advisors, hiring and training practices and encouraging strong performance by advisors.
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