INTERMEDIATE LEVEL

How do you ensure ongoing communication with clients and keep them updated on their financial plans?

Sample answer to the question

To ensure ongoing communication with clients and keep them updated on their financial plans, I would schedule regular check-ins with each client. During these check-ins, I would provide them with updates on the progress of their financial plans, discuss any changes or adjustments that may be necessary, and address any questions or concerns they may have. Additionally, I would make myself available to clients via phone or email, so they can reach out to me whenever they need assistance or have inquiries. I would also leverage technology and communication tools to streamline the communication process, such as sending them regular newsletters or updates through email. Overall, my goal would be to maintain open lines of communication with clients to ensure that they are well-informed and confident about their financial plans.

A more solid answer

To ensure ongoing communication with clients and keep them updated on their financial plans, I would utilize a combination of regular check-ins, technology, and personalized communication. Firstly, I would schedule regular meetings or phone calls with clients to provide updates on their financial plans, discuss any changes or adjustments, and answer any questions or concerns they may have. In addition to these check-ins, I would make myself easily accessible to clients via email or phone, so they can reach out to me anytime they need assistance. Moreover, I would leverage financial software and tools to enhance communication. For example, I could use a client portal where clients can access their financial information, track the progress of their plans, and communicate with me directly. This not only provides clients with convenience, but also ensures transparency and allows for real-time updates. Lastly, I would also utilize technology to send regular newsletters or email updates to clients, sharing relevant market insights and financial tips. By combining personalized communication, accessibility, and technology, I can maintain strong and ongoing communication with clients, keeping them informed and engaged in their financial plans.

Why this is a more solid answer:

The solid answer improves upon the basic answer by providing more specific details on how the candidate would utilize technology such as a client portal for communication. It also emphasizes the importance of personalized communication and accessibility. However, it can further enhance by providing specific examples of financial software and tools the candidate is familiar with, and how they have used them in the past for client communication.

An exceptional answer

To ensure ongoing communication with clients and keep them updated on their financial plans, I prioritize a multi-faceted approach that combines regular check-ins, personalized communication, and advanced financial software and tools. Firstly, I would schedule quarterly or semi-annual meetings with clients to review the progress of their financial plans, discuss any changes or adjustments, and understand any new goals or concerns they may have. These meetings can take place in person, over the phone, or through video conferencing, depending on the client's preference and convenience. Additionally, I believe in the power of personalized communication. I would make myself available to clients on a daily basis via email or phone, ensuring that they can reach out to me whenever they have questions, need assistance, or have thoughts to share. Furthermore, I would utilize advanced financial software and tools to enhance communication and provide clients with real-time updates and insights. For example, I have extensive experience with financial planning software like eMoney or MoneyGuidePro, which allow clients to access their financial information, track progress, and communicate with me securely through a client portal. This ensures transparency, convenience, and timely updates. Moreover, I would also utilize email marketing software like Mailchimp or Constant Contact to send regular newsletters or updates to clients, sharing market insights, educational resources, and proactively addressing common concerns. By combining regular check-ins, personalized communication, and advanced tools, I can establish strong relationships with clients, make them feel supported and informed, and ultimately help them achieve their financial goals.

Why this is an exceptional answer:

The exceptional answer goes above and beyond by providing a detailed and comprehensive approach to ongoing communication with clients. It showcases specific software and tools the candidate is familiar with and highlights their experience in utilizing them for client communication. It also emphasizes the importance of personalized communication and proactively addressing common concerns through newsletters or updates. However, it can further improve by mentioning any relevant achievements or successes in client communication and providing examples of how the candidate has resolved challenging communication situations in the past.

How to prepare for this question

Familiarize yourself with different financial planning software and tools commonly used in the industry, such as eMoney or MoneyGuidePro. Be prepared to discuss how you have utilized these tools to enhance client communication and provide real-time updates.
Think about specific examples of challenging communication situations you have encountered in the past and how you resolved them. Employers value problem-solving abilities and the ability to navigate difficult client conversations.
Consider developing a personal communication strategy or approach that you can highlight during the interview. Showcasing your understanding of the importance of personalized communication and client engagement will set you apart from other candidates.

What interviewers are evaluating

Client relationship management
Communication skills
Knowledge of financial software and tools