The Robo[t]s are Coming – are you Ready?

The robo[t]s are coming, and in reality have already made themselves comfortable with our clients. The disruption of robo-advising for its relatively low fees and online convenience will go down as a game-changer in our industry. One thing is eminently clear, according to a Southern California-based top advisor with whom I like to discuss extraordinary client servicing: advisors better have a plan to demonstrate the value they deliver to clients. To make meaningful contact, routinely.

He learned this critical component of client service early on from his father, a prominent cardiologist who constantly— and a bit more bluntly— reminded him that, “Patients don’t sue when they feel they are being heard by their doctor.” The prescription is simple: create a systemic mechanism to regularly and meaningfully connect with clients.

Key ways to do so include:

• A strong, engaged team equipped to support clients in this new environment
• A clear value proposition that clients easily understand and embrace
• A sound investment policy
• A strong focus on client service for existing clients
• The ability to engage clients in conversations about changing financial relationships

We’ve created a “Survival Guide” to help you deepen client relationships in a way that can only happen with a human touch. Here are some ideas to get you started:

Learn more about strengthening client relationships and the changing investment environment

Value demonstration in a post-robo world must go beyond the investment policy statement. A government regulator or attorney, as well intentioned as he or she may be, needs to see, touch and feel the value of a financial advisor or planner to the client. Otherwise, the scope defaults to the quantitative, to fees alone. That’s a race to the bottom in client experience, and ultimately, for all.

The robots are here – in the race of man versus machine, make sure you have the tools to compete. Learn how to turn clients into raving fans with The Art of WOW .

Janus Labs® Life Science and Practice Management programs are for information purposes only. Janus Capital Group does not guarantee that the information supplied is accurate, complete or timely, or make any warranties with regards to the results obtained from its use.

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