Technology: enabling client engagement during unparalleled times

Technology: enabling client engagement during unparalleled times

15th April 2020

“Never in peacetime have we faced an economic fight like this one,” announced the UK Chancellor Rishi Sunah last month. As companies’ statements about COVID-19 regularly enter our inboxes, we’ve found out how various businesses are adapting amidst this unprecedented commercial environment. However, now that the company statements have been shared, communication shouldn’t stop there. As the world finds itself in a period of economic uncertainty, Wealth Managers and Financial Advisors need to make the most of technology to support their clients during these challenging times.

Keeping clients and investors updated digitally

The Wealth Management industry has traditionally been seen as less technologically advanced than other sub-sectors within financial services. However, as research has shown time and time again, the value that clients place on wealth management advice is no longer restricted to cost versus return. Today’s modern investor also wants to know whether their Wealth Manager’s advice is accessible in real-time, online – something that will resonate even more in this current climate.

There has undoubtedly been an increase in the number of financial institutions that are offering more webinars and podcasts to provide their clients with essential insights into the market. While the number of one-to-one check-ins over the phone and email has increased, webinars offer investors and entrepreneurs alike the opportunity to better understand what is happening in the market and how professionals believe the situation will develop. Video recordings are not only a medium to strengthen the digital communication lines, but they are generally more engaging. As the world is currently overloaded with information and negative headlines, professionals need to be mindful not also to overload their clients. Instead, webinars offer perceptive information, answering the broader questions many investors will ask themselves, which consequently builds trust in their client relationships.

However, it is important to keep clients updated through multiple channels to ensure that they are able to access information in a way that best suits them. Having a dedicated COVID-19 page on your website and investor portal, which is regularly updated to answer some of the most common enquiries will provide clients with the answers they need quickly. Personalising information and adopting information to investors’ unique needs are still fundamental. Nevertheless, having an online help section will support those clients who seek answers to their general questions.

Reassuring clients with high-quality data

These are, of course, unusual times, meaning many (U)HNW clients will be looking for reassurance. Because of this, Wealth Managers should leverage technology in a means to actively keep in touch with their clients. Whether through email and digital video meetings or high-tech platforms, it is essential to engage in active dialogue and provide better visibility of investment portfolios and their performance. Today’s (U)HNW clients are typically more risk-averse and demand a fuller picture of their portfolio – this means that regularly sharing insights and analytics of clients’ investment portfolios must be a priority.

By adopting the right technology, Wealth Managers and Financial Advisors can provide up-to-date investment performance within seconds. Similarly, making that data available to clients through secure digital portals and platforms means that investors can check their portfolio performance and receive accurate data on-demand within just a few clicks.

Checking in to confirm whether investors understand where to access documents relating to their investments, or where to see the latest data on their portfolios, ensures that investors not only use technology to the fullest capacity but also maintain a sense of control over their own investment opportunities. Whether through blog content, social media or email marketing, there are multiple digital ways to emphasise the range of features and their purpose. Now is the time to digitally re-distribute guidelines and give personalised advice on how clients can use technology to stay updated with their investments.

Using technology to look ahead and connect

As McKinsey & Company recently pointed out, once the immediate business challenges posed by the Coronavirus pandemic have been solved, financial institutions need to return their focus to scaling their business. To minimise the impact of the current situation, Wealth Managers need to look ahead and remember that building new relationships should not fall off their agenda.

Despite the cancellation of conferences and networking events, technology allows us to move these events on a digital platform. Whether through video calls or platforms such as DelioConnect, there is a wide variety of digital tools which allow for new relationships to form. The same applies to clients who can continue to connect efficiently with fellow investors and entrepreneurs through technology.

While the world is adapting to a new challenge with yet unknown outcomes, the impact on financial institutions is being felt immediately. However, by embracing technology, Wealth Managers and Financial Advisors can continue to support their clients during a time when communication is vital.

As the Coronavirus pandemic continues to develop, we are keeping an eye out on how COVID-19 is impacting private markets. If you would like to find out how technology can help you to better support your clients during this time, please do not hesitate to get in touch with us at and we will look to support you in any way possible.