Because we are now a screen away from our clients, SimplyBiz's Pashley thinks some skills have become much more important.
For example he says: "Lockdown has necessitated virtual advice using Microsoft Teams and Zoom, which has reduced the use of traditional face-to-face soft skills such as physical greetings, seating, and proxemics.
"Simultaneously, this has introduced a host of new skills, such as looking into your webcam lens while speaking (rather than at yourself or the client) to give the illusion of eye contact, virtual technology, and lighting/room set-up."
He highlights three key areas where soft skills can be employed in a practical sense to engage, relate to, bring the client on board and help the adviser/client relationship to develop:
- Pitch meetings. This is the first time the adviser speaks to the client, and is generally over the phone. Great pitch meetings save advisers time and money, and lead to more productive fact-find meetings.
- Identifying and managing conversations when clients indicate they might be vulnerable, for example, using the TEXAS (thank, explain, get explicit consent, ask and signpost) and IDEA (impact of their health issue, duration of it, episodes and any assistance needed) drills.
- SMART objective-setting. One of the main reasons for file fails is poor soft facts recorded and a lack of coherent objectives. This is why explaining and recording proper Specific, Measurable, Achievable, Realistic/Relevant and Timely objectives is essential.
Barrow says: "Being a financial adviser is a highly skilled and important role in society, and as we face continued difficult times, they will need to be equipped to have more frequent, complex interactions with customers in changing and challenging circumstances."
However, she also lights on a vital point for intermediaries to heed: "While it’s important to support clients through difficult challenges, it’s crucial that advisers remember to look after their own health and wellbeing."
Simoney Kyriakou is senior editor for FTAdviser
