Report: New Data Proves Clients Want More Communication From Advisors

Updated: Apr 20


Advisors who double communication frequency with their Clients also experience 20% increase in email engagement levels.


TORONTO, ON - ReachStack, one of North America’s leading enterprise level client communication & visibility platforms for wealth management firms and their advisors, has shared a recent analysis illustrated the correlation between increasing the frequency of an Advisor's personalized communication with clients and the engagement level of those clients.


A recent analysis of over 1000 ReachStack users during the last 27 months, shows that Financial Advisors & Planners who significantly increase the frequency of personalized communications with their Clients, have experienced a corresponding 20% increase in email engagement levels.


This data clearly disproves the myth that more communication from their Advisor decreases Client response rates, by in fact showing the opposite to be true.


"Firms and advisors are adjusting to their Client's new communication habits and expectations" says Brendan Kenalty, CMO of ReachStack, "Advisors have their client's money and are important people in their life. In today's world of constant updates and feeds, an Advisor sending personalized info a couple of time a week is not spam, it's a core way to show value by demonstrating they're on top of things and available if needed. We appreciate this transition may require new approaches for some firms and advisors. We are excited to provide any data which will help accelerate investment in these programs."


A noted in our recent post, the rapidly changing competitive landscape and evolving client expectations, has put tremendous pressure on Financial Advisors & Planner to increase their level of client visibility and frequency of interaction from the traditional 4x a year, to weekly or in some cases daily.


Advisors who have used ReachStack to increase the frequency of their client communication by 2-3x over last 2 years, have also increased email engagement levels from 50% in 2019 to 60% in 2020-21.


Feedback from the field is hypothesizing that clients who start to consistently receive more communication from their advisor, appreciate the information, are comforted by seeing their Advisor's name in their in-box, and start to build a habit of reading their perspective.


Referrals are a secondary benefit for Advisors who share interesting information with Client's more frequently. Higher engagement levels make it more likely that their clients have shared their name and content with friends and family members, potential referral prospects who's advisors are not as active.


Our Wealth Management customers are excited about this result, as validation that the investment they are making to deliver more value and visibility to clients is having a positive impact on satisfaction and referrals.


Referrals are a secondary benefit for Advisors who share interesting information with Client's more frequently. Higher engagement levels make it more likely that their clients have shared their name and content with friends and family members, potential referral prospects who's advisors are not as active.


Based on these results showing correlation between increased frequency of client communication and increased client engagement, ReachStack is working with several customers to test a new high frequency, high efficiency client communication service. This service provides every Advisor with suggested personalized content for each client everyday based on that client's interests, then provides a simple option to review, send or stop with 1-click.


If you have any questions about this study or the services provided by ReachStack platform please contact our CMO, Brendan Kenalty at brendan.kenalty@reachstack.com.


About ReachStack

ReachStack is an enterprise level Client Communication & Visibility platform for wealth management firms. We help firms efficiently give all their Advisors the option to send personalized content to every client, every day with 1-click. Increase visibility, satisfaction and referrals in <2 min a day.


For more information please contact us. | info@reachstack.com | 1.877.977.8225

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