In the light of the Royal Commission findings TNT Advisor Solutions have been listening to many of you impacted as AMP licensees and we are consistently hearing the same concerns from many of you.
Here’s TNT’s 5 tips to supporting your practice in reassuring your clients:
- Get on the front foot
- Speak personally to your concerned clients and listen to their worries
- Be transparent and authentic
- Re-enforce that their relationship is with you
- Always remember you WILL weather the storm
1. Get on the front foot: Communicate with your entire client base to assure them that your practice and the advice you provide is focused on them and their interests. Emails, letter and blog posts need to be brief and positive.
2. Speak personally to your concerned clients and listen their worries: Ensure they feel that you are understanding their concerns. They are very likely to just want to voice their fears and for you as their trusted adviser to reassure them.
3. Be transparent and authentic: Point out that the segment of the industry engaging in bad behaviour is small – and there’s a reason that your practice is not implicated. Explain how they may or may not be affected by the developments. The likely outcome of the Royal Commission is greater restrictions on the product providers and banks, which will work to benefit clients.
4. Re-enforce that their relationship is with you: You will continue to focus on attaining their financial goals, while the licensees’ actions are reviewed.
5. Always remember you WILL weather the storm: If you’re doing the right thing and working for your clients.
We look forward to hearing your feedback about TNT’s top 5 tips for reassuring clients in the aftermath of the Royal Commission.