Monthly communications with clients optimal
Financial planners should be touching base with their clients on educational issues around once a month, according to Australian Unity.
Australian Unity Personal Financial Services chief executive, Steve Davis said the company had arrived at the conclusion that once a month was the right number following five years of testing its client to find out the optimal number of educational communications they should send to clients each year.
"With a monthly touch point we are finding educational communications are still appreciated, the feedback the clients give to their advisers is really positive, and complaints from clients about the regularity are zero," he said.
Explaining the company's methodology, Davis said Australian Unity had gradually increased the number of communications it sent clients each year, and it wasn't until the past 12 months that it had started to hear clients say ‘too much'.
"That was when we exceeded 12 communications in the one year," he said.
"Our client communications are all educational, and include client e-newsletters, special reports, client webinars and investment update emails," Davis said. "The feedback our advisers receive from their clients is that they really appreciate not only the updates and information, but particularly that their adviser is taking the time to send them good quality material."
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
