When was the last time a client or prospect was in your office? For many, it’s probably been a while.
Videoconferencing is the new normal and our most recent affluent research tells us that many clients are getting quite comfortable with it—52% tell us they prefer meeting with their financial advisor in some combination of videoconference and in person. Virtual communication has, in less than a year, become an accepted—and often preferred—method of interaction for today’s affluent clients. They have worked through most of the technological hurdles of yesteryear and now embrace the convenience that videoconferencing represents.
An unintended consequence of all this virtual communication is the leveling of the competitive playing field for financial advisors. No longer does a rookie advisor have to take a back seat to a corner office advisor when presenting to a client or prospect. That corner office with a private kitchen and luxurious conference room is no longer such a statement piece.
Your appearance on video is now a major component of your overall brand. Every time you’re on a video call, you’re making an impression. A lot of advisors use the camera and microphone that are built into their computers. Don’t! You can improve the overall quality of your virtual communication tenfold by investing in the right equipment.
It will require an investment of time and money, but with a budget between $1,000 and $1,500 you can purchase all the equipment you need. Here are some tips to keep in mind:
- A good webcam can work, but if you can afford it, upgrade to a DSLR, mirrorless or video camera.
- Natural lighting is great, but you’ll also want an LED panel, ring light or softbox to look your best.
- Your webcam mic can work, but you’ll sound better through a stand-alone external microphone.
- Avoid a WebEx or Zoom background. Ideally, you should invest in visual intrigue (pictures, plants, lamps and personal items).
Below is an example of a virtual setup; simple, with good equipment and without taking up much space. We have seen advisors use this setup in a large closet, a basement office and even the corner of a bedroom.
You should think of this as investing $1,000 to $1,500 to build a first-rate virtual office.
For less money than you’d pay for a good suit, every financial advisor should be able to knock it out of the park with videoconferencing.
Matt Oechsli is author of How to Build a 21st Century Financial Practice: Attracting, Servicing, and Retaining Affluent Clients. www.oechsli.com
