Deliver a human experience

Practice Management

Deliver a human experience

Prepare yourself for new client expectations

Lately, the press has been abuzz with news about new robo-advisor platforms and what it means for the industry. Consumers are beginning to appreciate the convenience of robo-advisors, they say. The technical aspect appeals to Gen-X and Gen-Y clients. And, of course, there are the price points.

While the robo-advisor trend has captured media attention, it fails to see the big picture. For clients with assets, there is no substitute for the advice they receive from a professional advisor and, more importantly, the personal service they receive from someone who understands their needs and sees them as a person.

Our model will become the premium price model in the industry, and you should be prepared for the new expectations the client will have. They’ll look to you to provide more than just investment advice and financial planning; they will look to you for advice on how to manage the aging process, how to help their families, help with business planning and more. Are you equipped to help your clients when they ask for new services? Are you preparing to offer them before your clients ask? As Hyrum Smith, the co-founder of Franklin Covey, said: The number one habit of highly effective people is to “be proactive.”

As our industry evolves, more clients will want more from you, and you should start today to be ready and ensure you have the capacity to meet their needs. Create efficiency in your practice today so you have time in your day to think ahead and be proactive.

While the news speaks of the “race to the bottom” to be the low price alternative for online advice, you have a new opportunity to highlight the difference between “doing it yourself” and having a partner who truly understands what clients want to accomplish and who is there to help achieve their goals. 



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