“You have to learn the soft skills for the little transitions as well as the big ones,” Florian says. “When a client’s child goes off to college and there’s the empty chair at the dinner table, and they walk down the hall to see an empty bedroom with a bed that’s still made, that’s a significant transition, and it also involves grief.”
Just as advisors find ways to add value for clients around retirement and death, Florian says that they can arrange for clients’ children to have health-care privacy and power-of-attorney paperwork prepared for when they leave to go to school in case of emergencies. Though it isn’t technically financial advice, doing so protects clients and their children and establishes confidence in the relationship.
Advisors can’t learn to deal with grieving and loss overnight -- Florian admits that her one-hour conference sessions are only the beginning. Her two-day workshops allow for much deeper education and role play. Yet fine-tuning these soft skills takes practice and exercise. Florian recommends that offices meet to conduct dry runs and role play client scenarios.
“You have to walk people through the less significant transitions and griefs of life, too, and little by little you’ll find that you get better at it,” Florian says. “When there’s a major grief experience, you’re going to be better prepared both to serve your client and to be there for their whole family. You then position yourself as a comprehensive advisor who cares about more than just the money.”
Even as firms push efficiency and implement robo-advisors and other digital tools in hopes of scaling up their practices, Florian urges advisors not to lose their human touch.
“It’s imperative. Use the digital tools and technology to free up more time to work on the relationship side,” Florian says. “If all you can do is talk about money, then who will want to pay your fee? Instead, become a wise advisor who accompanies clients and their families through all the ups, downs, joys, and griefs of life. It’s the right thing to do for the client, and it also happens to be very good for your business.”