Why work with us
Offerings for RIAs
- Technology & Platforms
- Investing & Wealth Management
- Business Solutions & Support
- Contact us
7 tips for engaging new investors
Brittany Shoot, 09/24/2018
Let's be honest: investing can be scary. Especially for beginners. So how do you help new clients overcome the intimidation factor and begin to feel comfortable in the space?
Here are 7 suggestions for reaching out to and retaining clients who are just setting out on the investment path:
1. Start simple
Individuals new to investing often have questions, and many times, advisors can anticipate potential queries and concerns. Have a checklist ready when you meet with a new client, but also be prepared to go off-script. Active listening and offering clients space to share concerns and ambitions demonstrates a crucial balance of expert care and flexibility. People want to feel that their advisor understands their unique goals and is focused on advocating for their best interests. This is especially true for clients who are brand new to investing.
Clients want choices when it comes to everything from investment options to retirement plans and charitable giving. Strive to assess your clients' short- and long-term goals, as well as their level of commitment and desire to be actively involved in managing their accounts.
Make yourself accessible to your clients as it best fits their needs. Only by talking through the options and covering a detailed list of personal and professional information can you truly offer every client an optimal, personalized experience built just for them.
As much as you want to give clients personalized attention, you also want to avoid becoming bogged down by administrative tasks that can easily be automated. Transform your business by leveraging technology solutions that integrate client information with market reports.
By leveraging robust analytics and prospecting tools, you will more easily and seamlessly generate reminders, aggregate data for client reports, and produce personalized client-focused proposals. Automatic updates save time, allowing you to focus on pursuing new opportunities and leads for your existing customers, as well as creating even more time to connect with potential clients.
Simulation tools help clients, as well as their advisors, make the most accurate, up-to-date forecasts on their financial future. Calculating projected tax rates, taxable investment income, and retirement contributions is crucial for maintaining financial well-being—and it offers peace of mind.
5. Go mobile
For clients who want up-to-the-minute updates, suggest an app or dashboard feature that best highlights their portfolio performance. If they can customize the display to reflect accounts and research currently most important to their interests and portfolio planning, even better. This is especially important for younger investors who have grown up immersed in technology. They'll expect you to be tech-savvy if you want to retain their business.
6. Send updates
As new laws take effect or past ones change, inform clients about how these could impact their investment portfolio. For example, the tax reform legislation of 2018 may change contribution planning and investment strategies for some clients. Proactively monitoring financial and legal news, and planning for these types of adjustments, helps clients and advisors understand what lies ahead, and how to prepare together.
Future-proof your client base by offering networking and education opportunities to further their growth. Professional lunch engagements may work well for one demographic, while another group might prefer an after-work seminar.
Engaging newer investors at in-person events tailored to their goals may help ensure mutual financial success, and it offers client and advisors an opportunity to touch base in person. And no matter the stage of your client-advisor relationship, creating space for those types of interpersonal exchanges is always valuable.
The information is not intended to be investment advice or construed as a recommendation or endorsement of any particular investment or investment strategy, and is for illustrative purposes only. Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade. Clients must consider all relevant risk factors, including their own personal financial situations, before trading.
This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
TD Ameritrade Institutional, Division of TD Ameritrade, Inc., member FINRA/SIPC. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank. © 2018 TD Ameritrade
Content provided is for educational purposes only and is not intended to be advice for any firm.
Call 800-934-6124 and talk to one of our experienced consultants today.
Complete this form
And we'll reach out to start the conversation.
Thank you for your interest. We treat each inquiry with the highest confidentiality. We're getting your question into the right hands and someone will be in touch with you shortly. We look forward to helping you.