TECHNOLOGY
Human Touch from page 19
for client appreciation events . Since people are working remotely and have gotten used to this way of life , why not have virtual beer tasting events , virtual cooking classes , and virtual book clubs for client appreciation ? Staying in touch with our clients is important , and we want to make sure we are doing it in the way they are most comfortable .”
Making the right choices
From a practical standpoint , I was curious about the nuts and bolts of the decisions regarding implementation of new technology , so I asked about how those decisions are made internally . In other words , how is the decision made as to whether a particular technology makes sense for the organization ?
Ruplinger shared , “ Our focus at Ash is the impact we have on the number of lives we protect . We invest in technology that will enable our advisors to bring solutions that will enhance the process and experience to protect more lives .”
Brotherton sees solving problems as the driving force . “ If we develop a problem or issue in the practice , we look to see which technology platforms are available on our approved list of vendors . We ’ ll start with a demo of the technology so all team members who would be using it can see how it works , what the roll-out would be like , and have a chance to ask questions . We will also talk with other advisors familiar with the technology to see the ways it ’ s actually being used and what potential problems have come up . After we feel like we have an understanding of the available options and their differences , we ’ ll weigh the pros and cons as a team , then choose which works the best for our organization .”
Zoom fatigue
Hoesly went into detail on her team ’ s process . “ We either hear about technology from a peer financial professional who has used it and loves it ,” she said , “ or we find we have a need to fix something that is taking up too much of our time or is not giving us what we need when we need it .”
“ Our most helpful additions ,” she continued , “ have arisen from the second situation where we know we have something that isn ’ t working and we seek out solutions to fix it . For example , we were having difficulty getting a good cross check of the risks we were taking in each of our client portfolios . Turns out there are various ways that programs measure risk , and they don ’ t always agree with each other . We actually find
“ We feel many people now have Zoom fatigue , so we are finding that just a good old-fashioned phone call , one on one , to talk with them is very effective .”
that conflicting information helpful , as it points out holdings that may turn out to have risks embedded in them that we hadn ’ t considered . As a result , we run several portfolio risk measurements through Morningstar , and then portfolio risk measurements through Riskalyze , and import them all on to a customized Excel spreadsheet that I use to evaluate our intended risk for that client , and the measurements from each of the programs .
“ Another example is Zoom . We had been using Zoom well before the COVID crisis began . In the early days of the crisis , it was phenomenal in allowing us to have what felt like personal contact with our clients . We feel many people now have Zoom fatigue , so we are finding that just a good old-fashioned phone call , one on one , to talk with them is very effective . We still do financial reviews over Zoom so we can share our screen , but we have come to only use it when visuals are an important piece of our discussion or if the client prefers it .”
Forward-thinking , client-focused
As Hoesly mentioned , the COVID crisis forced some immediate technological changes , but time will tell how much of the pandemic push toward technology will actually stick . “ The pandemic has accelerated the digitization of everything , We are strategically focused on reaching more people by transforming to grow in a digital world and to meet people where they are with the financial solutions they need ,” concluded Ms . Hoesly .
Clearly , these industry leaders have a well-balanced , forwardthinking approach to the growth of technology in our business . For them , keeping the client and their needs foremost in mind is the key to technological decisions moving forward . In short , client needs are the focal point as they work to strike the right technology / relationship balance .
Charles K . Hirsch , CLU
Micki Hoesly
President of Hirsch Communications Consulting , LLC , is a regular contributor to NAILBA ’ s Independent and Perspectives publications . As previous editor and publisher of Life Insurance Selling magazine , he also provides consulting services to the industry . Charles . K . Hirsch @ gmail . com
20 Perspectives Q3 2021