Blog: Data Proves More Contact = Greater Satisfaction!!


It only makes sense that the more that an advisor proactively reaches out to an investor, the more likely an investor will be satisfied with that relationship. But the critical question is how much is too much? When does an advisor step over the line and become a pest rather than a supporting voice of reason and advice? We’ve all experienced the salesperson that calls or emails too frequently ultimately resulting in our decision to ignore that person totally. How does a financial advisor balance between enough communication versus too much communication?

The data clearly encourages more communication rather than less, according to our newest research The Corona Crash: What Advisors Should be Saying to Investors Now. As you can see below, 37 percent of investors are more impressed with their primary advisor due to his/her reaction to the coronavirus crisis. The number of investors who are more impressed with their advisor increases exponentially based upon the number of times they have communicated with their advisor. Over 60 percent of those investors who have communicated with their advisor four or more times indicate they are more impressed with their advisor.


Advisors must communicate with their clients in multiple ways. While most investors indicate that quarterly communication is the expectation of communication during non-crisis periods, the largest percentage of investors anticipate their advisor will reach out to them if there is a reason to make changes to their portfolios. But why not communicate more frequently through various platforms? If an investor doesn’t want to read your email, blog or other digital communication, it can be deleted. But the reality is that many investors respond to multiple communication modes, even if they are not totally personalized.

  • More than two-thirds of investors (68 percent) have spoken to their advisor via telephone since the onset of the corona crisis while 28 percent have communicated via email. Why not communicate via both email and telephone?
  • Many financial advisors and their firms have provided educational materials and communication via various digital methods. Fifty-seven percent of investors that received these types of communications indicated that they viewed these materials. Be sure to make educational materials easily accessible to investors.
  • Based upon Spectrem’s Communicating with Advisors and Providers, 90 percent of investors are reading their advisor’s newsletters, regardless of whether they are electronic or hard copy. Don’t give up on newsletters.
  • A smaller percentage of investors (26 percent) read an advisor’s blog, however, that percentage increases to 45 percent for younger investors. If you want to attract younger investors, blogs are very important.

Despite the fact that more than half (52 percent) of investors indicate they lost a fair or significant amount of their net worth since the onset of the pandemic, only 13 percent of investors believe their financial advisor should have been aware of the oncoming financial crisis. This means that financial advisors need to use this opportunity to provide additional value to their clients by having the difficult conversations about the future. Unlike the 2008 recession, investors aren’t blaming this financial crisis on the financial services industry. By demonstrating expertise and genuine concern, advisors can deepen the loyalty of their investors.