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Going Virtual – The Value Of Being A Location Independent Financial Advisor

Helping clients with their financial planning from a sandy beach in South Africa may sound too good to be true, but it’s not, and I’ve done it. The anywhere advisor concept was almost unfathomable a decade ago, but with the rapid adoption of technology in a Covid-accelerated digital wilderness, it’s now the most practical solution.      

Financial advisors traditionally had to sit down with their clients, face-to-face, and walk them through solutions to their financial planning challenges with paper presentations. How to get clients as a financial advisor was about cold calling, door knocking, seminar selling, and so on to drive more in-person meetings. However, times have changed, and virtual advisors are on the rise. Let’s analyze some of the benefits of practicing as a location independent financial advisor.  

Leverage Technology 

Videoconferencing helped me improve my life-work balance by reducing the need for business travel. It also allowed me to take on ideal clients who weren’t initially in my geographic scope, essentially without limit. It’s certainly the most effective way of delivering personalized advice in the digital age and having more time for your social life and family is one heck of an incentive, all while making more money and drastically reducing your overhead in the process.

Technology systems and web-based tools are virtually everywhere, which is a double-edge sword for advisors since so many solutions exist yet we don’t know how to put them all together to get the most out of them.  This is one of the reasons I created Conneqtor, to give advisors the master blueprint they need to help serve clients regardless of where you or your client happens to be

The anywhere advisor can serve different types of clientele, thanks to the cost savings and efficiency of using technology as opposed to a traditional office. Location independence presents the potential to craft an especially focused business serving niche clients that becomes feasible in the world of content and inbound marketing.

Freedom And Well-Being

Imagine never having to delay your life plans, while you wait for the ‘right moment’? Break free from the shackles of a physical location occupation. Stop being bound when you were made to explore. As a virtual financial advisor, you have the opportunity not only to create a life around the business of financial advice but to create an advisory business around living your life to the fullest.  

The ability to balance work and life has become the key to feeling happier and being more productive within your work. Saving time that would otherwise be spent on a long commute allows for better work-life balance and adds hours back into your days. Working remotely can improve your health and wellness by reducing stress. Here are some really insightful and practical ways in which you can manage stress at work by Zoe Talent Solutions.

What about financial freedom? The benefit of operating virtually and having a robust digital presence is that it’s possible to launch a new advisory firm at a fraction of the cost. A brick & mortar location is a massive expense, and with that eliminated, you can focus on building a fierce virtual practice and target your ideal clients. This newly found freedom also makes it more feasible to serve clients with different business models.

How you choose to spend your time saved as a virtual advisor are entirely up to you. Make sure to get that father of the year mug in 2021, go on that trip you’ve always dreamt of, or put the extra hours into other projects or passions. Either way, ka-ching! It all holds value. 

Replace Prospecting With Marketing 

Cold calling now seems like something from a prehistoric nightmare, but it was once a cornerstone of our profession. The world has since gone digital with everyone now online. This is where you must exist to stay relevant. 

Digital marketing is the most powerful asset at the disposal of a virtual financial advisor. Tech platforms offer many new opportunities to improve your overall marketing strategy, such as the ability to reach new audiences, generate leads, and close sales. Digital marketing is no overnight phenomena and can take months to start bearing the fruits of your efforts, but once you have an engaged audience, the value add is quickly evident. 

Connect through content – start focusing on creating content rather than AUM. Assets under management have almost zero value to a potential client. It’s an ego stroke that in a service-based business like ours should be left at the door. Clients are searching for how you can help them, and with 3.5 billion Google searches made every day, you need to be featured among them! 

Embrace technology, grow your digital presence, tap into new markets and become a specialist advisor who operates from anywhere. Write your own story – set your own hours – choose your own destiny. Become the anywhere advisor to acquire more clients, reduce your expenses, and have an amazing life-work balance.  How can anyone argue with this?

Best Regards,

Derek Notman

2 thoughts on “Going Virtual – The Value Of Being A Location Independent Financial Advisor”

  1. Pingback: Digital Marketing Best Practices for Financial Advisors

  2. Pingback: How To Build A Financial Advisory Practice Online | Virtual Advisor System

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