Virtual Focus Groups Help Advisors Refine Client Communication Strategies During Times of Extreme Duress

Every investment advisor is facing it: How to stay in contact with their clients and help them to avoid panic and sell off at a market low – especially during this extraordinary time.
 
With anxiety levels high, advisors have been called on to communicate with their clients to provide them with factual information and calm fears. But how much communication is too much or too technical; or causes more, not less anxiety?

Here’s your answer: Conduct a virtual focus group.
Better yet, let a professional conduct a virtual focus group for you.

My friend and trusted colleague Stephen Wershing, CFP®, founder and president of The Client Driven Practice, a firm specializing in qualitative client feedback, has just announced that he is now offering a turnkey package called Crisis Focus Groups.
 
“We are in an unprecedented time where financial advisors add the most value to their client relationships. This is where they can save them from doing something from which they can’t recover. If a client panics and sells out, advisors know their clients can blow up their financial plan pretty quickly,” said Wershing, when we spoke on March 22, 2020.

Click here to watch the 8-minute video interview

Listen to Podcast / Audio Only

View transcript here.

The Client Driven Practice is known for creating unique brands for advisory firms leveraging client feedback through its proprietary 4D Niche Process. Wershing has conducted well over 100 client advisory boards for financial advisory firms. He is author of the 2012 McGraw Hill book Stop Asking for Referrals and co-host of the popular Becoming Referable podcast.
 
This new Crisis Focus Group service will provide financial advisors with the answers they need to better understand the types of communication that their clients want and need right now.
 
“It’s critical that financial advisors communicate with their clients to reassure and guide them through this difficult time.”
 
ARE YOU ANNOYING YOUR CLIENTS OR MAKING THINGS WORSE?
 
“We've heard, however, that the messages that some clients have been receiving have not necessarily been calming them down. Maybe they’re being communicated to too frequently. Maybe they’re getting information that’s too technical and the technical nature of it is making them more nervous. Whatever it is that is not sitting well, advisors need to know – and they need to know now so they can course correct,” Wershing said.
 
“Because we have extensive experience with doing qualitative client feedback with client advisory boards, we are going out to the advisor community to offer a service to put these skills to work. In each Crisis Focus Group, we organize a small group of an advisor’s clients who meet virtually to gather feedback and guidance about the communication from their advisor,” added Wershing.
 
Each Crisis Focus Group is led by a trained facilitator from The Client Driven Practice. Clients discuss a series of questions in a virtual 30-minute meeting. After the call, the advisor receives a recording of the call and a worksheet so that they can pull out the points they think are important. The advisor can then develop an action plan to customize and tailor their communication strategy. The goal is to help advisors communicate effectively and have the right influence with clients.
 
Here are some of the questions covered in the Crisis Focus Group:

• Are clients hearing from their advisor frequently enough or too frequently?
• What is most helpful about their communication?
• What, if any, parts of the communications do not help?
• How do clients want to be communicated with?
• What’s really most on clients’ minds at this point?

 
The advisor receives the following with this turn-key package:

• Tutorial – How to invite clients to the group
• A turn-key service to schedule the video conference at a time that works for the majority of the clients on your selected list
• A 30-minute video conference conducted by an experienced facilitator
• A recording of the call, delivered within a day
• Worksheet to help the advisor tailor client messages and maximize their effectiveness ​

​Priced at $497, advisors can sign up and get started today at
​https://clientfocusgroups.com.

Wershing’s staff will respond quickly and be able to get the virtual focus groups scheduled and completed in matter of days, allowing advisors to re-craft messages and deploy new and better communications quickly, with information provided directly from chosen clients.
 
Once you receive your virtual focus group recording from Wershing’s team, consider getting professional help if you learn that your client communications and messages are not as helpful as you’d previously thought.
 
HOW TO GET QUICK, ADDITIONAL HELP
 
As a follow-on to Wershing’s Crisis Focus Group service detailed above, Impact Communications is currently offering quick-action, crisis advice to help advisors and financial services firms with their communications.
 
One of Impact’s communications professionals will:

• Watch your focus group video
• Review the client communications you’ve been using
• Help you complete Wershing’s worksheet and provide corresponding recommendations via a 30-minute GoToMeeting
• Provide one additional hour of hands-on copywriting assistance (files emailed to you within 24 hours of the GoToMeeting)

Priced at $660, you can schedule your
Quick-Action Crisis package by clicking here.

View the Wershing/Swift video transcript here