Advisors depend on information to provide the advice they give to clients. Without new information there is the obvious risk that the strategies presented to clients will be ineffective, the goal posts may have moved.
Professionals are trained to filter out the good stuff, the nuggets of new ideas that will either benefit clients – save them tax or forward their business ambitions – or keep them the right side of compliance legislation. This filtering process is a learnt process.
Advisors should be wary, therefore, of relying on the broadcast of wide ranging articles on tax issues, for example, to motivate clients to seek advice from them on relevant topics. As a means of keeping in touch, this broad brush approach is invaluable, and those clients who are canny enough to see the tree for the wood, to see that one piece of news that would make a difference to their business or tax affairs, will no doubt consider getting in touch to seek further advice from you. In this way, there could be an active connection between distributing information and increasing cross-sales of relevant services.
However, a more likely, successful strategy may be to filter information for clients. If a pertinent piece of news comes across your desk, and the “that would really help…” light came on, don’t hide this connection in general broadcasts to clients. As the data is likely to be received electronically, copy and paste the nugget, send it by email to the relevant clients, especially those who are going to appreciate your efforts, and reap the rewards.
It is useful to realise that individual pieces of information – the trees – are part of the wider library of changing information – the wood – and that advisors have a better chance to filter out client relevance. When a connection is made communicate it. In this way you will be helping your client to see the tree for the wood.