Advisers failing to capture client engagement

Financial advisers are spending considerable time and resources in developing their client presentation but falling short in the client interaction process.

That's according to Claudio Pannunzio, president of US-based i-Impact Group, who said the first trap that advisers fall into is often failing to emotionally engage with their clients.

"During a presentation, just stating the facts could actually increase the risk of losing the audience," he said.

"While the scope of emotional power is to stimulate an audience's imagination, the intellectual power should be used to pique listeners' interest by using reasoned arguments and backing them up with data."

During the client consultation, Pannunzio said advisers should consider using an anecdote or short story to make the delivery more powerful and meaningful.

"Fire up their imaginations and keep them interested. Ultimately, that's what they will remember," he said.

He said advisers' second shortfall is usually not being genuine and acting "as the person you believe your audience wants you to be".

"By trying to be someone else you will most certainly lose your most effective persuasion asset — your authenticity," he said.

Pannunzio also pointed to the abuse and misuse of technology as a major factor hindering client engagement and connection.

"I continue to see a significant number of advisers who misuse this medium, as they cram too much content into their slides and often overload them with images, videos and animations," he said.

"The important fact that must be remembered is that a visual aide like PowerPoint is just an aid, and as such, can only help get the point across. That's it."

The other flaw Pannunzio highlighted is the use of technical jargon, which can often leave the client confused.

"If your audience cannot follow what you're saying or understand what you're offering, they won't adopt, buy or apply for it," he said.