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The New Mobile Imperative in Financial Services

June 8, 2017

One of the most effective ways to sell – the face-to-face conversation – has become somewhat outdated with the rise of mobile technology. In our always-connected, information-rich world, it’s nearly impossible to grab anyone’s attention, anywhere.

Yet while it’s harder than ever to get in front of prospects for an actual face-to-face, there’s one device that nine out of 10 adults keep within an arm’s reach all day, every day. The mobile phone. It is perhaps the single most effective tool to help financial advisors be successful in today’s competitive environment for business.

At our recent Hearsay Summit, leaders from across the financial services industry discussed how to unlock mobile to recruit more effectively, and build loyalty with clients with a team-based approach.

Recruit New Advisors by Giving Them Mobile Tools

“It’s not an easy business,” said Caroline Feeney, President of Prudential Advisors. “And it’s certainly not an easy one to get started in as a brand new advisor.”

At Prudential, one of the most difficult challenges the firm faced in recruiting was giving young advisors a way to tap into their networks while complying with regulatory requirements. The easiest way to open up those networks was to open up the channel that provided access to contacts: texting. Since the firm implemented Hearsay Messages, advisors can text friends and family on day one of work – and they don’t have to worry about getting in trouble with compliance. It’s the easiest way to start their business, Feeney said.

Build Loyalty With Clients – As a Team

Advisors have a tall order – to build and strengthen relationships across their client base, while also managing portfolios and doing all the administrative work of running a business. Advisors spend 40 percent of their time just getting in touch with existing clients, according to PwC. And that’s important, because staying top-of-mind is key to building trust and, ultimately, selling. But what if you could empower your team to help you engage with clients more frequently?

At Prudential, assistants help advisors build relationships with clients over text using the Hearsay Messages team Texting Console. “It really saves the advisors’ time,” said Birdia Chambers, Head of Social, Texting and Communications Distribution at Prudential Advisors. “It takes away the administrative tasks so they can focus on maintaining relationships with their clients.”

Also, watch Hearsay CEO and founder Clara Shih’s opening keynote, where she discusses the latest mobile trends:

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Alissa Dos Santos

Senior Product Marketing Manager

As a Senior Product Marketing Manager, Alissa brings products to life through storytelling. She has a background in enterprise technology, social media and journalism. Before working in tech, Alissa was a television reporter.

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