7 Steps to Developing Effective Communication Strategies

As a financial advisor, you know that good relationship with your clients are what keep them coming back for more. A big part of that is effective communication strategies.

Now, more than ever, there are many ways to be in contact with your clients, and clients expect quick and effective communication. Accordingly, financial advisors should use the communication styles and strategies that will best resonate with clients. Doing this will help you find your target audience, build trusting relationships, and help clients stay updated on your services.

On the flip side, not having a system for communication may make it difficult for you to stay in touch with your clients in the most effective ways. It could also cost you opportunities for gaining and maintaining new clients.

1. Establish Your Communication Objectives

Ask yourself how you want to be in contact with your clients? What kind of online presence do you want for your business? What social media apps do you want to focus on, and what types of content do you want to pursue?

For example, how does it affect your strategy if you are focused on clients looking to retire? How will this be different than working with clients fresh out of college? When you have established a clear direction for your communication, you can ensure that you’re portraying your business in a way that appeals to the clients you want to target.

2. Understand Your Audience

It is important to know not just who your client base is but what kinds of communication will be the most useful and effective for them. Do you have a smaller or larger client base? If large, you’ll want to think of ways you can stay personable while still reaching a broad audience.

You may find employing a mix of personalized communications with more generalized information useful. For example, for bringing in potential clients, general monitoring of client portfolios, or digital messages, you might find it useful to use a marketing automation platform (like Mailchimp or Sendinblue) or even hire a communications team to make sure that you’re sending out effective messages regularly. Make sure you have communication methods in place for both existing and potential clients.

3. Establish Your Communication Style from the Beginning

During the onboarding process, you can establish communication expectations with your clients. At this point, you can set the tone, and determine how often and through what channels you’ll be communicating. You can also find out what kinds of updates are essential to your clients and how they want to receive them.

Some people might prefer text messages, e-mail, or in-person meetings. Be clear, ask questions, and listen. Establishing mutual expectations for communication upfront will ensure better results down the line.

4. Be Transparent

Being transparent with your business clients is an important foundation for building trust. If you say in your advertising or on social media that you offer a certain service, make sure you can back that up.

Be upfront about what your services cost, and don’t surprise clients with additional fees. Be clear about what services you offer, the results that a client can expect, and your process for getting those results. If a client can see that you are transparent, they’re more likely to trust you and stay with you as a loyal customer.

5. Maintain Effective and Timely Communication

We’ve established that people want fast answers and that they want them in forms that suit their preference–be it phone calls, in-person meetings, online meetings, texts, or email.

This can be a lot to juggle, but technology and employees can help you stay on top of it all. Automate schedules and reminders so you’re getting things out on time. Use web-based scheduling apps to let people know when you’re available to talk. Keep a priority folder for clients in your email, and by all means, if you can’t keep up, bring in an assistant to help (virtual or the real deal). Have employees regularly check on social media so you can reply quickly to comments and concerns.

6. Personalize

As you communicate more and more, you can develop a more personal rapport with your clients. You can include some details about yourself or your interests, and ask questions that help you to understand your clients better. This can help you learn how to serve them better and promote trust and enjoyment in your business relationship.

7. Employ Proactive Communication

This is the opposite of reactive communication and becomes especially important if things aren’t going to plan with a client’s goals. When concerns arise, reach out to the client proactively to let them know what is going on and what measures you are taking to remedy the situation. What you want to avoid is the client learning about the problem and having to approach you. Being proactive shows that you’re honest, transparent, and on top of it–all the qualities they want from someone who’s helping them manage their money.

Learn how to improve your communication skills and practices by contacting me today about my business coaching for wealth advisors. I am passionate about helping wealth advisors avoid common mistakes and achieve the successes they’ve dreamed of.


Financial advisors must maintain positive client relationships in order to keep them. Effective communication is a critical component of developing these relationships. Therefore, financial advisors should adapt their communication styles and strategies to meet the preferences of their clients, which can help build connections, foster trust, and keep clients informed about their services.

7 Effective Communication Strategies Infographic


7 Steps to Developing Effective Communication Strategies