Current market conditions clearly make it essential for advisers to be reaching out and talking to clients. However physical meetings are clearly not an option. As we all adapt to unprecedented changes in daily life there are opportunities to spend time exploring different ways of working. Virtual meetings/screen shares are a perfect example of this.
It looks at a wide range of options, from the cheapest that are embedded within devices advisers will already own, through mass market widely adopted solutions, to highly sophisticated alternatives. I will explore the different possibilities available to users of the various industry software. Rather than wait until all responses are received from the suppliers. Again, such content will be updated as more information is received.
For all of these options you are going to need:
- A computer, tablet or smart phone
- A reliable Internet connection
- Also, a dedicated WebCam, headset and microphone will help produce a much better results
Virtual meeting tools fall into a number of categories:
Simple and Cheap vs Complex and Integrated
Don’t have unrealistic expectations of how easy they will be to adopt short term. They involve significant changes to ways of working. In the longer term this can bring real value but things aren’t going to change overnight.
A practical and pragmatic approach is probably a good first step
If you haven’t used this sort of technology before it can be really valuable to practice with colleagues first. Take this as an opportunity to agree with your team how are you will each use screen sharing technology within your own business going forward.
Similarly, when you are holding a remote meeting with a client for the first time it’s a really good idea to spend a few minutes talking them through the technology, making them aware of the controls on the system and generally getting them comfortable with the process.
A huge compliance benefit of virtually all such systems is that the session can be recorded; this can be either with video or in some instances if you prefer just audio only. While personally I would prefer to keep the full video to refer back to, this can take up a lot of storage space.
Always be very clear with clients that you are recording the meeting. Again, good systems will notify users when someone starts recording and some even display a message saying that by participating in the call the individual is agreeing to be recorded.
Many packages now also offer an automated transcript of the conversation. For example, this is an embedded function within Microsoft Teams and Zoom uses an integration with Otter.ai to provide this. To set expectations realistically, these are currently some way from perfect, but they are improving all the time. Auto transcription certainly offers a good foundation for producing a detailed transcript. You could either do this yourself or there are agencies who will take your file and transcribe it for you.