3 ways advisers can get the most out of hybrid work

In recent months, many employers have been implementing their return-to-office plans based on business priorities, industry norms, brand values, culture and other considerations. At some companies, workers continue to perform their roles exclusively from home, while other businesses are encouraging — or even requiring — their people to spend a portion of their workweek in the office.

The meaning of hybrid work continues to evolve, but it’s clear that some form of blended work arrangement is here to stay. According to data from Gallup, 53% of employees with remote-capable roles expect to work in a hybrid office arrangement in the future based on what their employers have communicated. The same survey revealed that company leaders and managers prefer work arrangements that include both virtual and in-person work.

This blended approach is also evident in the types of interactions clients are looking for when connecting with their financial professionals. Some investors want to meet face-to-face and others prefer virtual interactions. There’s also a growing number who want some combination of in-person and virtual meetings.

As we enter the post-pandemic phase, in-person meetings with financial professionals have increased, according to the 2022 Greenwald Retiree Insights survey. This survey revealed that 66% of clients had an in-person meeting in 2022, up from 45% in 2021, and that there appears to be more willingness to hold virtual meetings. In fact, 40% had a virtual meeting in 2022, up from 31% in 2021, and more reported that they want to be able to meet both in-person and virtually.

These trends hold true for us as well, and we’re seeing that clients’ preferences for the type of meeting they want depend on the nature of that discussion. We’re finding that in-person meetings tend to happen for annual reviews, but there’s more flexibility when it comes to other topics. These preferences also emerged in the Greenwald data, when, on the heels of the recent market decline, only 24% of clients wanted in-person conversations with their financial professionals.  

Regardless of how you connect with clients, the fundamentals of establishing relationships and building trust remain intact in any meeting setting. Below are some tips to get the most out of your time with clients and prospects:

Learn something new. Challenge yourself to really listen to what your clients are saying and make sure to walk away with some new nugget of information about their families, dreams, concerns or even hobbies. That information can enable you to better connect and support your clients and creates an opportunity for you to follow up in a more meaningful and personalized manner.  

Be creative to connect. Given how busy folks are today, it’s important to find fresh ways to get in front of clients or prospects. Think creatively about how you can provide an experience that would appeal to your client instead of another Zoom call. Whether it’s taking a hike at a nearby park, getting some clients together to cook a meal with a private chef, or meeting up at a driving range for a golf clinic, find fresh ways to pique their interest and form a bond.

Operate more efficiently. Your time is precious, so be thoughtful about how you spend it. Because there’s greater comfort with virtual meetings today, use that to your advantage. For clients who live far away, be strategic about when you plan face-to-face meetings and when a video chat will suffice. Consider which clients on your roster need that in-person connection and who doesn’t, so you can allocate your time accordingly.

Since 2020, our world has undergone a metamorphosis in how we work, live and interact with others. Embracing these changes and adapting your approach to meetings can lead to more meaningful interactions with clients.

Philip E. Caminiti is managing director of retail annuities at New York Life.