In a world driven by agility and volume, we must not forget that clients have feelings in addition to financial advice needs. How clients feel when they interact with their adviser can have a profound effect on the relationship and even their willingness to be forthcoming with information. This article delves into the essentials of building a truly client-centric business in the financial services industry and the significant benefits that come with it.
How often have you heard someone say they left a service provider (whether it was an insurer, medical practice or even a hairdresser) because they felt like they “were just a number”? How often have you said that yourself?
Customer surveys show that people like to feel special. Even when we are just one of hundreds or thousands of customers, we want to feel like we matter. When we’ve gone through a traumatic event that might lead to a claim – be it a car crash, a burst geyser, or a critical illness diagnosis – we want to feel heard and cared for. And in a time of stimulation overload, when there’s so much competition for our attention that it’s become overwhelming, we want to be delighted.
“In today’s fast-moving financial world, it is tempting to prioritise speed and efficiency over customer experience. However, true success comes from more than just quick transactions, it is about how clients feel after every interaction,” says Nicola Janse van Rensburg, a financial planning specialist for PPS Specialised Support Services. “By making customer experience the core of financial advisory services, companies can cultivate long-term relationships, build trust and stand out in a competitive market. While speed is important, the real value lies in delivering personalised, thoughtful guidance, especially for clients navigating complex financial and life challenges.”
Of course, while a doctor can make a patient feel special by improving their bedside manner and a hairdresser can offer a premium cup of coffee, when it comes to financial services, it’s somewhat less obvious.
“We strive to stay attuned to how our clients feel after interacting with us and to be accountable when things don’t go smoothly,” says Thina Mabuza, CEO of NU Africa Risk Services. “To us, being truly client-centred means understanding what our clients say about us when we’re not around.”
What clients want
When clients seek out a financial adviser, they may be expecting a lot more than someone who can compare quotes and recommend products. “Today’s financial advisers are required to play many roles: negotiator, advocate, counsellor, and even digital expert,” says Johanni Jennings, Head of Auto&General. “However, their most crucial role is offering sound financial advice that will help protect clients’ assets against financial risk and secure their financial future. This advice must be rooted in integrity, providing clear, complete information without misleading half-truths or insufficient explanations.”
If clients had the knowledge and expertise to manage their finances themselves, there would be no need for them to turn to an adviser for help. However, finance is a specialised field and while it impacts everyone, not everyone is equipped to navigate it. “Customers typically do not have access to the expertise and information to make critical financial decisions in a way that will ensure the best outcome for them,” says Marnitz van Heerden, Head of Customer Experience at Discovery Health. “Financial advisers close that gap very eloquently, becoming, over time, trusted partners to customers.”
He adds that clients turn to their advisers for reassurance. “They want to know that their financial goals are understood and that they have a plan that will help them achieve those goals. Importantly, they need to feel that their adviser has their best interests at heart, offering personalised, unbiased advice that is easy to understand, and which takes their personal circumstances and needs into account.”
For those outside of the financial services industry, the adviser acts as an interpreter, explaining complex concepts and decoding terminology. So, it’s important that clients feel comfortable being open and even vulnerable with their adviser, and that they can trust their adviser has their best interests at heart. “The financial services industry, and the products and services we offer customers, are typically loaded with complex jargon – simplicity and transparency therefore go a long way in building long-term client relationships,” says Van Heerden. “Customers entrust financial advisors to not only demystify this complex financial world for them, but to navigate it and help them make the right decisions. Lastly, customers are looking for a human connection; for a financial adviser who can connect with them beyond the technical aspects of making the best financial decisions.”
When you’re an expert in your field, it’s easy to forget how daunting your field may appear to someone on the outside. An expert may know that they have things under control. They may know that certain types of products are good options or not good options in certain situations. But it’s important for clients to feel they’re being heard and taken care of.
“Customers are not only seeking financial advice but also a financial adviser who they believe truly understands them and their needs,” says Janse van Rensburg. “They want a personalised, holistic approach that integrates various aspects of their lives — tax planning, estate management, risk mitigation and financial planning. Beyond just numbers, they expect a service tailored to their unique financial goals and personal concerns. In times of uncertainty — whether driven by economic instability, life changes or personal setbacks — customers look for advisers who offer not just solutions, but a sense of comfort through genuine understanding and financial security.”
In addition, “clear communication and ongoing education empower clients to make confident, informed decisions,” adds Mabuza.
A little humanity goes a long way
Creating a special experience for clients starts with small, basic things. “The first step is to know your clients on a personal level,” says Mabuza. “Small gestures make a difference, like tracking key dates such as birthdays or milestones. Addressing clients by name, recalling important details about their lives, and creating a welcoming atmosphere show that we value them as people, not just as clients. Regularly seeking feedback and being approachable fosters an environment where clients feel comfortable sharing questions and concerns. These personal touches significantly enhance their experience.”
One could argue such basics of client service go without saying. However, when workloads become unbearable and stress is running high, it’s often the non-essentials that tend to slip first. Yes, you didn’t remember a client’s late spouse’s name, but their investments performed well – in that context, does the forgotten name really matter that much? To the client, it may.
“Empathy sets humans apart,” says Jennings. “Demonstrate empathy by actively listening to clients, asking thoughtful questions to fully understand their needs, and ensuring they feel heard. Personalisation comes from remembering details such as clients’ names, past interactions, and preferences. By incorporating their feedback into tailored services, you can create a unique and meaningful experience for each client.”
Personalisation should be reflected in the advice clients receive. “Humanising the customer experience means moving away from the one-size-fits-all approach and tailoring your service to the individual,” says Janse van Rensburg. “Each client’s financial situation, goals and personal challenges are unique, and your approach should reflect that. Start by understanding your client’s life circumstances. Are they planning for retirement, saving for their child’s education or recovering from a financial loss? By taking the time to explore their broader life context, you can align financial advice with personal goals, making your guidance more relevant and impactful.”
However, context is not only important for advice recommendations. “Advisers should take time to understand their clients’ lives beyond their financial circumstances – learning about their personal goals, values, and family dynamics,” says Van Heerden. “Connecting with the human behind the financial modelling, numbers and solution discussions is key. It is these conversations that can help financial advisers unearth unmet needs, fears and goals that the customer themselves has not yet considered – and then help them find the best solutions to address these.”
A common complaint clients air about the financial advice profession in online forums is that they only hear from their adviser once a year when it’s time for their annual review. “Small, seemingly insignificant actions, like regularly checking in with customers to ensure you remain top of mind as their financial adviser and staying abreast of changes in their lives, can have a significant positive impact on your relationship with your customers,” says Van Heerden. “It demonstrates a genuine interest in their lives. And it does not take a significant investment or cutting-edge technology. It can be as simple as a sincere personal WhatsApp message to a customer to simply say: ‘Hope you are well. I will be sending you a review of your portfolio in the coming weeks, keep an eye open for that. I am here if you need me’.”
Treating clients with care
While empathy is important for establishing rapport with clients and forging a relationship built on trust, it is even more important when clients have experienced a tragedy.
“Clients often approach financial advisers during emotionally difficult times such as divorce, the loss of a loved one, illness or unexpected job loss. In these moments, it is critical that our process does not add to their stress,” says Janse van Rensburg. “Advisers, with specialist support, should prioritise empathy and patience. The aim is to guide clients at their own pace, allowing them to make well thought-out decisions rather than rushing through the process. Breaking complex tasks into manageable steps helps clients feel less overwhelmed. Adapting your communication style is also key. Instead of focusing solely on technical details, use supportive and compassionate language. Regularly check in with clients, ensuring they feel heard and understood. This reassures them that you are there to support them, not just manage their finances.”
Van Reenen echoes these sentiments: “In moments of crisis, such as illness, loss of a loved one, or a major financial setback, clients are especially vulnerable. During these times, the experience must be handled with heightened empathy and sensitivity. Advisers should focus on simplifying processes and eliminating bureaucracy – these are not the times to use policies and procedures as reasons for delivering ineffective support. It’s crucial to communicate clearly and gently, using reassuring language and offering emotional support alongside practical solutions. Where possible, fast-tracking urgent claims or settlements can alleviate additional stress.”
There is also scope for advisers to go beyond the call of duty to support their clients, Van Reenen adds. “Financial advisers who excel at supporting customers during times of trauma or crisis, have ensured they understand what customers go through, beyond just the interactions they need with their financial adviser, and how they can potentially support them with other aspects of the crisis or trauma. Financial advisers excel at customer delight when they make available resources, information and support to help the customer through the traumatic event. This can be in the form of connecting the customer to counsellors, helping them source funding for emergency expenses, connecting them with highly rated specialist providers they might need or offering to do some of the admin-related work they need which goes beyond their relationship with the financial adviser.”
The gift of time
Speak to anyone and they’ll likely tell you the one thing they could desperately use more of is time. Modern life has become so busy there just never seems to be enough time in the day. When an adviser streamlines processes, they’re giving the client a priceless gift: time to spend with their loved ones, catch up on their own backlog, or just focus on their mental health.
“Start by delivering the basics reliably,” says Jennings. “Respond to client inquiries promptly, follow up to ensure satisfaction, and always follow through on promises. From there, explore digital tools that can automate administrative tasks, allowing you to devote more time to the core advisory process. This streamlining reduces friction and enhances the client experience.”
Nu Africa uses technology to simplify processes and minimise admin. They also take the time to explain things to clients upfront so that tasks can be actioned more quickly down the line. “Simplifying documentation through digital forms and electronic signatures saves time and streamlines the client experience,” says Mabuza. “By clearly outlining steps, timelines, and expectations, we reduce confusion and stress. Automation of routine tasks, such as reminders, allows clients to focus on their financial goals instead of administrative details.”
Janse van Rensburg is also a big fan of streamlining and simplification: “Specialist planners should focus on eliminating unnecessary complexity. For instance, instead of overwhelming clients with extensive documents, break down financial plans into manageable segments. Provide concise, clear reports that highlight essential information and avoid financial jargon that may confuse or overwhelm clients.”
Van Reenen calls this an “information trickle” as opposed to an information dump. “An information ‘trickle’ strategy is more appropriate to ensure relevant information is shared with customers when they need it – this can also be automated which goes a long way to ensuring customers don’t have to reach out to a financial adviser because they get the information they need proactively. This simple strategy can show customers true empathy and care.” He says this strategy works well during the onboarding process, allowing it to be clear and structured, so new clients understand each step of the journey.
Van Reenen also stresses the importance of cutting out anything superfluous. “Efficiency can be achieved by streamlining processes and removing unnecessary steps that frustrate clients – the key is to review experiences and your operational processes supporting these customer experiences, from a customer’s point of view,” he says. “Advisers should adopt digital tools that facilitate document sharing, electronic signatures, and automated workflows, reducing the administrative burden on clients. And with AI customer support technologies becoming more mature, financial advisers can consider the introduction of automated, but effective, customer experiences at appropriate touchpoints of journey stages. These can however never replace access to a human when a customer needs it.”
Power of peace of mind
It’s important for clients to have faith that their financial future is in good hands. That’s why they’re here, after all. Mistakes can jeopardise that faith, as well as negatively impacting the client. “Mistakes can erode trust, so it’s critical to get things right the first time. Implementing checklists and regular staff training helps ensure nothing is overlooked, while a second review of key documents adds a safeguard,” says Mabuza.
PPS uses a combination of technology, collaboration and proactive management, says Janse van Rensburg.
Discovery Health employs a similar strategy. “Ensuring thorough internal checks, reviewing key documentation, and double-checking data entries are foundational practices,” says Van Reenen. “Implementing technological tools, such as error-detection software and automated compliance checks, can further reduce the risk of mistakes. Creating a culture of accountability, where advisors are encouraged to escalate concerns and clarify uncertainties, is also essential. Regular training and certifications to keep advisors updated on the latest regulations and best practices can further limit errors.”
However, he adds that if mistakes do creep in, all is not lost if they are handled well. “Discovery Health research shows that a poor customer experience which is recovered well has the potential of improving customer loyalty to beyond where it was before the poor experience was delivered to the customer. Customer complaints and negative feedback should therefore be seen as a great opportunity to turn dissatisfied customers into lifelong fans.”
Fostering peace of mind also means being transparent, says Jennings. “Transparency is key. Be clear about your services, fees, and any critical details. Clear, open communication builds trust and minimises misunderstandings.”
And empowering clients with knowledge to make informed decisions, understand their financial situation and be proactive in securing their financial futures can also go a long way towards fostering trust and cultivating peace of mind. “Education is empowering,” says Mabuza. “By providing clear, understandable advice, we help clients feel more confident about their financial futures. We introduce clients to practices that protect their assets and manage risk effectively. Where needed, we collaborate with industry experts to provide top-tier expertise, including real-time investment advice from asset managers and insights from business interruption computation experts. Hosting online Q&A sessions and financial literacy workshops for clients and their children can empower them with valuable financial skills for a confident future.”
Janse van Rensburg agrees: “Helping clients feel confident about their financial future is one of the most valuable outcomes of effective financial planning. This confidence comes from developing a thorough understanding of their goals and creating clear, realistic plans that address both short-term and long-term objectives.
“Breaking down complex scenarios into simple, actionable steps makes clients feel more in control and empowered. Encouraging open dialogue where clients can express concerns and ask questions builds trust. When clients understand the rationale behind their strategy, they feel more secure about their financial future.
“As financial professionals, it’s our responsibility to educate clients throughout their journey, helping them feel informed and confident in the decisions they’re making for themselves and their loved ones.”
Humanising client experience through technology
It may seem like a contradiction, but technology can enable a more human experience for clients. “Research from within Discovery Health shows that technology-driven customer experiences can enhance the emotional attachment customers have with a brand, when used correctly and at the appropriate stages of the customer journey,” says Van Reenen.
As the world becomes more digital, using technology to improve efficiency and security is something clients may also come to expect. “We all agree that a truly successful advisory practice puts their clients at the core of their proposition and in a fast-paced world where we perceive that a speedy, more digitalised experience is key to a great client experience. Advisers need to ensure they have a strategy which engages technology to support them in providing this to clients,” says Robyn Clay, Director at Linktank.
Of course, technology can also go horribly wrong when there’s a mismatch between the need and the tech or when businesses think tech-first, rather than seeing technology merely as a tool to solve a problem. As Janse van Rensburg cautions: “While technology is a powerful tool, it should enhance rather than replace the personal touch. Clients still value the connection, trust and understanding that only a dedicated adviser can provide.”
Here are some factors to consider:
How tech-savvy are your clients: “I would argue that a good starting point would quite simply be to know your clients,” says Clay. “Ask them what their relationship or expectations are when it comes to the utilisation of technology – not every client wants that self-service experience, do they? A practice that knows their clients is less likely to invest in technology solutions which they feel are exciting and new but which their clients won’t find add any value to them.”
Automate admin: “Another clear initial starting point would be to focus on the employment of technology to automate repetitive, administrative functions,” says Clay. “While these don’t really feel like they hold any value to the client, they are required and are in fact vital to the success of the client relationship. This frees up time for the adviser and their whole team to focus on the personal relationship with clients and an optimal advice experience.”
Secure storage: “Once the right solutions are in place, ensuring that client information is digitally stored and kept updated is key,” says Clay. Mabuza adds: “We use an Omni-Channel CRM system, giving us quick access to client records and enabling secure identification and verification. This system allows us to securely store and access client records in the cloud, ensuring a smooth claims process with instant document uploads.”
Automating processes: “Building processes that are automated means that a client is supported throughout their journey and ensures a consistent administrative experience which builds on the element of safety and certainty for them,” says Clay. “Take your time with building these automations, map out as much of what you currently see as your ideal client journey, collaboratively with your team, then start by automating the simplest aspects of that journey and build on that foundation as you grow.”
Educational resources: “Advisers can provide clients with access to educational resources, such as articles, webinars, and videos, to help them make informed decisions,” says Jennings. “Interactive tools can help clients visualise their financial future and understand the impact of different decisions.”
A tool for communication: “Technology is a powerful ally in improving customer experience. Our social media presence enables us to share tips, updates, and educational content. A user-friendly website with articles, videos, and FAQs, along with calculators and guides, greatly benefits our clients,” says Mabuza. “Chatbots handle common queries, allowing us to focus on more complex needs without sacrificing quality.” Jennings adds: “Advisers can send automated updates on market trends, portfolio performance, or upcoming appointments.”
Enhance accessibility: “Online portals and mobile apps allow clients to view their policy details and update basic information, ensuring 24/7 availability,” says Jennings. “Video conferencing and chat features enable face-to-face interactions without the need for in-person meetings, especially beneficial for clients in remote areas.”
Leveraging AI and data analytics: “AI and data analytics can enhance financial planning by offering predictive insights and personalised recommendations based on market trends and the client’s specific financial profile. These tools complement the advisers expertise and help ensure the clients receive timely, tailored advice,” says Janse van Rensburg.
Easier interactions: “Advisers can use predictive analytics to anticipate client needs and proactively offer relevant advice or products,” says Van Reenen. “Chatbots, AI-driven support, and interactive portals allow clients to access information 24/7 and reduce friction.”
Let it evolve: “Just like relationships are developed over time, so is the technology to support them. Technology implementations are, in fact, never a once off exercise – rather see your strategy around technology as an evolutionary process, part of the progression of the relationship with your clients,” says Clay.
People behind the numbers
As regulated as it is and with so much emphasis on facts and figures, there’s a risk that the financial services industry could be seen as cold. However, it’s important not to lose sight of the people at the heart of what we do. “The financial advisory industry is built on trust and relationships,” says Van Reenen. “In today’s fast-paced digital world, it’s easy to lose sight of the human element of service. However, those advisers who combine technology with empathy, personalisation, and clear communication will be best positioned to offer extraordinary experiences to their customers and reap the loyalty rewards from that. In doing so, they will foster client loyalty and advocacy, while differentiating themselves in a competitive market.”
