For a financial services representative, video communication can be pivotal in establishing trust while meeting clients’ demands for a more personalized digital experience.
Balancing Trust with Innovation
Financial services (often called “FinServ”) remains an industry built on relationships and trust. Money can be a tough subject, and FinServ representatives, commonly referred to as “trusted advisors,” have an obligation to act in the best interests of their clients.
How do people assess whether someone is acting in their best interests? Vanguard reported the components of trust break down into 17% functional, 53% emotional, and 30% ethical. Wealth management, investment banking, insurance, and banking rely heavily on relationships when conducting business. This explains why a large percentage of meetings happen in-person, in order to develop an emotional connection and increase trust.