Journal of Financial Planning: February 2020
Charesse Hagan is the founder of Charesse J. Hagan LLC, providing operations consulting to financial planners. She is a member of FPA’s FinTech Advisory Group, and she serves as the technology coach in the FPA Coaches Corner.
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Technology always has a learning curve. Whenever you are looking to add new technology into your business, evaluating your client’s learning curve will be important for a smooth transition. You’ll also need to think about how you will teach them to use the technology in a way that won’t eat into your time.
How can you train clients to use new technology in a scalable way? I’ve put together five actionable resources that you can instantly integrate into your practice:
1. Lay Out the Tech They Need
Clear, concise directions are the best way for you to inform your clients about what they will need.
Write down the software tools you use that are client-facing and provide a link for clients to jump right in, for example, eMoney or RightCapital for client portals. For document storage and invoicing it may be AdvicePay, PaySimple, or another complementary tool. If you don’t currently have a client storage system, you can explore a document storage system like ShareFile or ComConnect. No matter the system you wish to use, be sure you are clear with your clients about the type of systems you want them to use and what they are used for.
Make sure that your clients know exactly what they are expected to use and provide links for them to get started. This outline will help prepare them for the type of interfaces they will need to grow accustomed to.
2. Identify How They Will Use It
It isn’t enough for you to introduce your clients to the systems you use. You will also need to tell them exactly how you want them to interact with the system.
It is good to set expectations about how both of you will work with the tool you have selected to get the job done right. For example, if you use a document storage system, you’ll want to be clear that your clients should upload any necessary documents to that tool as opposed to emailing you.
Set clear boundaries and expectations in order for you to use the full bandwidth of the tools you are paying for.
3. Create Training Resources
It is important that you optimize your time as a business owner and not get bogged down with too many questions from clients about the software you use. In order to streamline the process, you can make onboarding resources to help your clients work through the systems.
Your resources should be clear and actionable. Some of the best training resources are videos that you can create on Loom, private YouTube links, and Screencastify. Alongside the videos, you can also create step-by-step PDFs or how-to guides to help walk your clients through the steps needed to get started, as well as frequently asked questions.
Be sure to have a tech stack resource list readily available when onboarding clients. Take for example eMoney; they have a client-facing learning library, and using that resource can save you from doing double work. Arming yourself with handy resources and training to pass along to clients will save you time, energy, and productivity.
4. Assign a Proper Hosting Platform
Now that you have the resources you need, how will your clients access them?
This can be done in many ways ranging from a hidden page on your website, an onboarding welcome packet, or information stored in your client portal. No matter where you host these resources, make sure you communicate the location to your clients and make it user-friendly for them.
5. Create Ready-to-Use Templates
Follow up, follow up, follow up. This is one of the most important pieces of running a business. Take the time to create template emails for frequently asked questions. For example, if a client gets locked out of their portal in eMoney, have the answer to their question in a template email ready to go. It will not only save you time, but it will also help your team guide clients throughout the onboarding process.
Remember Your Audience
Not every platform and onboarding structure will work for you and your client base. Remember who your clients are and use that knowledge to help you select the right process for them.
For example, some clients may need an in-person onboarding meeting, whereas for others, it makes more sense to use a client portal for onboarding. Keeping your clients in mind will set you up for success.
Your clients will always have questions when it comes to implementing new technology. Providing them with the resources they need to succeed will both maximize your time and provide them with quality, security, and peace of mind.