It’s well known that having HNI clients can generate higher revenues. But what isn’t clear is how to efficiently attract, win, and serve those wealthier clients.
Having an effective communication strategy can go a long way in helping you win over HNI investors. Orion Portfolio Solutions has shared a few communication tips for MFDs/RIAs that can help device such a strategy. Let us look at these tips:
Speak directly to client concerns
Build your communication strategy that speaks directly to the experiences and lifestyles of HNIs. Be relevant to them and speak on topics of their concerns.
Show your expertise
An advisor’s designations and certifications are important to a majority of HNIs. They have often led lives where they have been the best in their fields— they want to know they are working with someone who matches their prowess.
Personalization
Mass marketing techniques are less effective with HNIs. Knowing that a personal element has been added to communication is important for them. They have complex and varied financial lives and they want to work with an advisor who customizes advice because they personally know them and their goals well.
Niche
Identifying a niche helps to focus communications so they become more personal and resonate more easily with their intended audience. Even a focus on HNIs may be too broad, because the concerns and needs of the individuals in this group are not monolithic across professions and regions.
Let them know your value proposition
As much as HNIs appreciate expertise and personalization, they also appreciate clarity. Invest the time necessary to understand your unique value proposition and make sure you are able to communicate it effectively and efficiently as a simple message that clearly illustrates what makes you different.
