Using simple communications to avoid upsetting customers – MAF204

Let’s talk about customer communications.

Another way we can engage rather than enrage.

Welcome to episode 204 of the Marketing and Finance podcast.

Using simple communications to avoid upsetting customers - MAF204

What you’ll hear about in this episode

  • Why it’s important to keep customers up to date about what’s happening
  • How silence can create unhappy customers
  • Simple, timely communications can make people like you and trust you enough to do business with you

Links

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Andre Costa on Advicefront and getting started with new clients – MAF202

In this episode I talk to Andre Costa of Advicefront.

It’s all about helping advisers get started with new clients in an engaging way that let’s them focus on building long term relationships. We chat about where the idea came from and how Andre and the team developed and launched the service.

Welcome to episode 202 of the Marketing and Finance Podcast.

Andre Costa on Advicefront and getting started with new clients - MAF202

What you’ll hear about in this episode

  • What Advicefront is
  • How Advicefront helps advisers connect with their clients
  • Where the idea for the tool came from
  • Company marketing tactics
  • The biggest challenge Advicefront has faced
  • Their business successes to date

Who is Andre Costa?

Andre studied architecture before changing to software development, applying what he’d learned about design.

He is the CTO of Advicefront, a front-end tool for financial advisers to onboard their clients and learn more about them. It links into other apps and tools, like Voyant, to create financial planning solutions for customers.

Andre says it combines everything he loves – design, technology and finance – in one.

Summary of our chat

Advicefront allows financial advisers to collect information from clients digitally, eliminating the need for face to face meetings during the fact find process. It saves the client time, as they just log in, complete the risk questionnaire and sign. It also enables advisers to instantly collect their set-up fees.

They believe that meetings during fact-finding aren’t needed. Clients appreciate being able to complete the process in their own time. The adviser then quickly gets to the stage of addressing the client’s needs. However, they encourage face to face meetings after that when possible to help build long term relationships.

CEO Jose Supico came up with the idea of Advicefront while working as a financial adviser in Portugal. He wanted to build a tool to help advisers, and toyed with creating robo-advice. Instead, he created something to make them more efficient and productive, and to win more clients.

Advicefront recently received investing which enabled them to build a team of developers, designers and marketing. They researched the market and began building social awareness. Now, they’re heavily active on Twitter and LinkedIn, and share videos to explain latest updates. Adviser beta testers also spread the word and give recommendations.

Andre says their biggest challenge has been breaking into the UK market, because the team is based in Portugal but the company is British – there was some prejudice. It was also difficult for them to have a presence on social media and at industry events, so it took time to generate awareness.

Advicefront have created a positive community, where advisers can give feedback on the tool as they test and use it with clients. Setting this up while growing was very useful. They have a core group of loyal advisers using the tool every day and an international bank as a client.

What’s Next for Advicefront?

The next step for Advicefront is to develop further modules for the platform. These are for report planning and building, and will integrate with other tools to do so. They are also working on supporting advisers to execute financial plans. Then, they’re looking to expand outside of the UK. 

An Example of Simple Marketing

Andre says that Uber keep everything straightforward. Their communication is clear, the app is simple to use, and it allows him to get where he needs to be quickly and easily.

An Example of Marketing Muppetry

Andre says that some airlines make things complicated. TAP (Air Portugal) has a system which is a mess. It’s difficult to check in and communication is poor.

Links and contact details

If you enjoyed – Andre Costa on Advicefront and getting started with new clients – please leave a comment or a review on iTunes.

And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.

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Lisa Conway-Hughes on the Miss Lolly blog and writing a money book – MAF198

My guest this week is Lisa Conway-Hughes, a financial adviser and author.

We chat about why she started the Miss Lolly blog and how this led to a book publishing deal with Penguin.

Welcome to episode 198 of the Marketing and Finance Podcast.

Lisa Conway-Hughes on the Miss Lolly blog and writing a money book - MAF198

What you’ll hear about in this episode

  • What motivated Lisa to become a financial adviser
  • Why Lisa set her website up
  • How Lisa simplifies complex financial terms
  • Why financial advisers use jargon
  • The feedback on the Miss Lolly blog
  • How her book came about
  • The process for writing her book

Who is Lisa Conway-Hughes?

Lisa started working for a financial advice firm after university before sitting exams to fellowship level. Joining Westminster Wealth Management in 2012, she decided to sort out her own finances when she had children.

Lisa runs a website called Miss Lolly, offering smart financial advice for women. She says that organising her own money was easy, but she wanted to give support to people who can’t or don’t want to pay for advice. Lisa is also writing a book called “Money Lessons”, how to Manage Your Finances to Get the Life You Want.”

Summary of our chat

Initially, Lisa got into finance because it was the first job offer she got after university. Once in the industry, she realised she’d developed a passion for it. She says there’s more to it than just pensions and tax. It’s about digging into people’s lives and building relationships. She finds it rewarding.

Lisa’s women’s networking group encouraged her to create an alter ego to stand out among the greyness of financial advice. Miss Lolly started as a Twitter account, helping people understand their finances and make the right choices. It grew from there, gaining press coverage and giving her speaking opportunities.

Early in her career, Lisa the company sent Lisa out to employers to explain how company pensions and benefits worked. She realised one of her talents was explaining complex financial products in simple terms. She uses the same tone of voice on her the website, so people could easily understand her explanations.

Lisa thinks the finance industry uses jargon like a safety blanket: “If we use it and our client looks mystified, it makes us feel us intelligent. They’re never going to leave us, they need us.” In fact, customers struggle to engage with jargon, and it’s better to communicate on their level.

When Lisa sent a survey out to her website users, she learned that she’s made a difference to people who wouldn’t normally seek financial advice. It was heart-warming to get feedback and not just a ‘thank you for answering.’ She learned that 25% of her blog readers are men, suggesting they also like her style.

Asked on a podcast what her plans were for 2018, Lisa spontaneously said she wanted to write a book. Penguin, the book publisher, then contacted her and asked to write a book for them. They helped her write for a younger market than she has for Miss Lolly and she learned what makes millennials tick.

Lisa said she had a short deadline to complete her book, and had to do a lot of rewriting to make sure she was giving the right information to the audience. She wrote on her way to work on the train and did research on the way home. She often worked all night or all weekend.

One Thing Lisa Would Like Listeners to Take Away

Lisa said when she first joined financial services, it felt like a different industry to how it feels now. She thought it was moulding her into what the industry had been, and not what it would be.

She’s pleased that she didn’t give in. Keeping her identity in an industry which might not have been a natural fit for her and succeeding in it as well.

A Marketing Campaign or Product Which Grabbed Attention

Lisa says she loves what Fidelity and Scottish Widows are doing with research into women and money. It’s creating media interest and encouraging them to write about these topics more often.

She also likes the John Lewis advert which talks about how they run as a partnership and that having skin in the game means you’ll go the extra mile and well beyond expectations.

Recommended Business Book

Lisa says the book that really stands out for her is, “The Automatic Millionaire” by David Bach. She loves the way he talks about doing small things regularly to have a big impact on your life.

It reminds her that that’s what she needs to ram home to clients and it’s not about getting the £1m but more about doing the little things every day that will make a difference.

Links

If you enjoyed – Lisa Conway-Hughes on the Miss Lolly blog and writing a money book – please leave a comment or a review on iTunes.

And if you know anyone who would enjoy the show – please share it with them. You can use the buttons below to share on social media.

Don’t miss an episode of the MAF Podcast – subscribe now.

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