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Here are 5 simple tips that can help you strengthen your relationship with older clients.
1. Offer physical comfort
Older clients prefer meeting face-to-face. Nashik MFD Sachin Karate of Varad Financial Services said, “MFDs can invite older clients to office or meet them at their place to make them comfortable. Older clients do not prefer meeting virtually. However, they are open to do transaction online if you can help them. My team member goes to their homes to help them with online transactions. This gives them more confidence.”
Sachin further said that MFDs should also share minutes of the meeting in writing with older clients to reduce ambiguity.
2. Hire an old employee
Older employees are likely to be more patient than their younger peers. Having gone through similar life phases, it is easier for them to relate to and understand older clients’ needs.
If you do not have an older employee, you should meet them personally to make them comfortable, believes Shimla MFD Vishal Mahajan of Rupee Express. He said, “I have been personally interacting with my older clients since the very start. My involvement gives them confidence. I set aside adequate time for such meetings and lend them a listening ear.”
3. Take care of small things
Ajmer MFD Atul Kumar Vijayvergiya of ABC Nivesh Yatra feels that MFDs should take care of their older clients like a family member. He said, “My office is situated on the third floor. While there is a lift in the office building, my office-staff always goes downstairs to receive older clients. In fact, post our meeting, I offer to drop them home in my car.”
During the meetings, you may check with them about their preferences - tea/coffee with/without sugar, chaas, fresh juice, easy to eat food like fruit slices, dhokla and so on.
Jaipur MFD Deepak Khandelwal of RG Associates believes that MFD should keep physical documents ready before meeting their older clients. He said, “In my experience, older clients prefer hard copies. It is better to be ready with all necessary documents like fund factsheet, comparative analysis and so on before meeting them.”
4. Organise financial and non-financial sessions
You may look at organising knowledge sessions for old clients. These sessions could be based on will writing, nomination, healthcare, social media basics, spiritualism, hobbies, grandparents-grandchildren bond and so on.
5. Organise camps/form activity clubs
Organising a camp or forming an activity club will also contribute to the overall well-being of your older clients.
Atul and Deepak have organised health check-up campaigns in the past. Besides, Atul had also organised monthly exercise sessions during the pre-covid era.
Sharing his initiative, Vishal said, “I regularly organised tea get-togethers for my older clients before the pandemic. It gave my clients opportunities to network and exchange ideas. I will continue with organising such meets once normalcy sets in completely.”
These were some of our recommendations based on interactions with your industry peers. Wouldn’t you like to share with us your ways of engaging with older clients? Do drop in your ideas in the comment section below.
