Demographic shifts, economic challenges, political transitions, environmental threats, and a global pandemic have changed how financial service professionals communicate.
This research shows you how.
To understand how financial planner/client communication and trust have evolved, researchers from the MQ Research Consortium and the Kansas State University Personal Financial Planning Program, with the support of the Financial Planning Association® (FPA®) and Allianz Life Insurance Company of North America (Allianz Life), renewed a 15-year-old study that examined communication best practices and how they impact the trust and commitment clients have in their planners. The research and analysis have resulted in an in-depth whitepaper, Developing and Maintaining Client Trust and Commitment in a Rapidly Changing Environment, with each chapter available as separate, downloadable documents.
Among the most critical findings:
- Clients want at least some virtual engagements with their planners, even post-pandemic.
- Virtual engagement comes with challenges.
- Financial planners need more training on recognizing and managing client financial anxiety.
- Are financial planners overconfident, or are clients being more critical?
- Diversity, equity, and inclusion efforts in the financial planning profession are having an impact.
