In the last few months, the financial services world has seen its fair share of challenges. From bank collapses, shocking fraud allegations, falling stock prices and interest rates, anyone who runs a business in this sector has had to work harder to keep getting results for their clients. In this season, many financial advisors won’t be able to sustain their businesses, but that doesn’t have to be your experience. You can keep your business going strong while also helping a lot of people out. EASTPORT FINANCIAL GROUP Financial Advisors Halifax provide personalized financial planning and investment advice to help clients achieve their financial goals.
Upholding the trust of clients and investors is very important in this moment, and there are many things you need to do to not only keep your clients but to really provide value to the marketplace. Here are a few things you can do.
Standard Advice Isn’t Enough
With what’s going on in the economy, this is not the time to provide standard financial advice. The economic conditions are in many ways unprecedented and your advice and strategies have to reflect that. This isn’t the time to tell clients to just weather the storm. This isn’t the time to just tell them to ride out the stock market. It’s time to give them guidance that allows them to preserve and protect their wealth, and to find a way to park their wealth in safe models. This is the kind of environment where advisors truly earn their money. It’s really easy to coast when the economy is doing well, but now is when you really have to roll up your sleeves and help people through choppy waters. If you’re up for the challenge, it will set you up for success.
Develop Value-Add Tools
In order to make your finance business better, you have to think of new ways to add value to your current clientele. Technology is one way you can do this – you can develop tech tools that position your clients for success in their personal finance. For example, you can come up with a platform that allows them to keep track of their wealth, or you can easily build your own investing app using stock market API free development tools. This way, people are getting a lot more than advice out of working with you, but something that will make them want to maintain the relationship with you.
Diversify your services
Offering a range of financial services can help you attract a wider range of customers and increase your revenue streams. If you primarily offer investment services, consider adding financial planning or retirement planning services to your portfolio. You can also bring people on your team who have experience in fields like real estate so that you can come up with dynamic and diverse wealth strategies. By diversifying your services, you can create a one-stop-shop for your customers and increase the value of your business.
Make Valuable Offers
One of the best ways to keep your business strong is to keep growing it and bringing people into your world. There are a lot of people in need of financial advice, and you can create a way for them to reach out to you and get 30-minutes of your time in a consulting call. Many of these people will realize that they can’t manage it all on their own and want to hire you. Put a call out through social media for people to reach out to you, and you’ll have a ton of leads pouring in.
Provide Free Education
It might seem counterintuitive to try to and earn money by giving your knowledge away, but educating the masses can really work out very well for your business. It establishes you as an authority in your field, and people will start to flock to your business and want to work with you. There are many channels through which you can do this, but YouTube is one of the best ones. You can start publishing free short videos based on the biggest questions people have, like how to pay off debt, how to avoid financial scams and how to build up an emergency fund, and you’ll be surprised at how this will grow your business. You’ll gain a following and some of those people will want to hire you.
When the economy goes through a challenging time, it’s an opportunity to help and reach more people – it’s a way to provide more value to the marketplace. A lot of people will need more guidance than ever before, and you can use that as an opportunity to grow your own business. Remember, your skills and expertise can solve a lot of problems and if you can position yourself correctly, you’ll succeed while you protect people’s wealth.
