Increasing Client Confidence Through the Use of Interactive Technology
When David Hoult of Compass Wealth Management was introduced to Ranjit Singh, CEO of Genee World, it soon became clear that Genee could offer technology solutions that would provide answers to some of the core issues encountered by a small Financial Advisor practice.
David Hoult, the founder and Director of Compass recognised that integrating more technology into the way the business was run and into client meetings would not just lead to more efficient meeting planning but could also help to win new and retain existing clients.
Compass Wealth Management are based in Stourbridge, West Midlands and provide tailored advice to corporate and personal clients across the West Midlands and beyond. Established in 1990, Compass Wealth have been part of St. James’s Place since 2010. The company has a particular expertise in designing tailored financial solutions for business owners and professionals and managing all aspects of their business and personal wealth.
Embracing technology in client presentations has been instrumental in gaining new clients and winning more business from existing clients, according to David Hoult, who explains “Using the X7 interactive touchscreen from Genee World when conducting client presentations gives the client confidence in our proposition and brings a level of visual impact that isn’t achievable using a desktop, laptop or a tablet.”
David adds: “We find that now when we are giving client presentations we can be more interactive and tailor the discussion according to our client’s specific needs – we can use the screen to select our options as we go along, ensuring that we offer relevant and targeted solutions to the client. We find that this works brilliantly for Corporate clients, but our Personal clients respond well to this level of dialogue around potential scenarios and solutions too. Selecting options for the client from a suite of potential answers and integrating these into the ongoing plan really helps the client to realise that we understand their individual requirements. Again, it’s all about us giving clients and potential clients confidence and trust in our abilities.”
Compass also use the screen to display stock market performance alongside investment fund performance – using the FE Analytics app. The size and scale of the graphics creates a powerful impact in any meeting. Not only that, but gathering all links, files and data into one place on the screen ahead of the meeting means that meeting preparation is streamlined.
X Series interactive touchscreens are designed to assist in collaborative business meetings – the display allows for a team to interact by sharing not only voice and video, but also data and annotation. Notes can be made directly onto the digital whiteboard and data can be shared at the touch of a button.
David continues: “The annotation feature within the software is another extremely useful tool – we use it to highlight key points from the presentation, or to draw the client’s attention to pertinent information on a web page, for example. This gives us another means of driving the discussion with the client towards areas that we feel will be of strategic benefit for them.”
Compass also use the X7 screen to display brochures, information and videos produced by St James’s Place Head Office – and these can also be seamlessly incorporated into any client presentation, ensuring brand consistency.
X7 screens are supplied with standard whiteboard software, as well as Genee’s proprietary Spark software. This means that the meeting could be recorded and saved to the client file – which in turn would help to minimise the volume of paper records and streamlining client management and administration. In addition, Service Charter and Service Levels can be added to the meeting notes and recorded on the client records, ensuring Compliance and demonstrating that processes are watertight. This is a feature we are keen to make use of in the future.
The X-Series screens are fitted with two wide angle cameras, while powerful speakers and microphones with echo cancellation and noise reduction produce clear sound quality – making them ideal for video conferencing applications.
David continues: “Meeting clients via Skype will be an ideal way to save time. Our clients are all busy people, and if we can hold a meeting over Skype instead of face to face and avoid having to spend time driving or sitting in traffic then we need to embrace that. It means that both the client and I can manage our time more efficiently.”
David also explains that the ability to use video conferencing to conduct meetings will not only save time spent travelling but could also be useful in client retention. “For example, if a client moves away, using Skype to keep in touch will mean that they no longer feel the need to seek out a local financial advisor. In the future it could help us to maintain a relationship and retain business that we might previously have lost.”
In conclusion, David Hoult states: “Integrating technology into the way that Compass does business has brought some big changes to the way in which we operate and has brought significant benefits too. We can now facilitate interactive discussion and tailored presentations allowing us to conduct more targeted content to the audience, therefore engaging their interest. Meanwhile, we know that the greater visual impact created by our presentations results in greater client confidence, which in turn helps us to secure client loyalty. One final point is that I also honestly believe the X Series screens are ideal for streamlining and improving client meetings not just in our Financial Services arena but across all of the professional services sector. We can already see the benefits of the X Series and are excited to make use of further features in the coming months.”