Mastering the Virtual Practice: Why Advisors Will Prefer Virtual Meetings

The great psychologist Carl Jung popularized the idea that people are either extroverts (people who draw energy from personal contact and interactions with others) or introverts (those who prefer less contact and more quiet, personal space). Most of us know intuitively which we are. Unsurprisingly, a large majority of financial advisors are extroverts.

The new normal—working from home and curtailed travel—is painful for extroverts. Conducting virtual meetings using videoconferencing makes people seem less real, and extroverts crave the physical presence of others. While you may prefer to be face-to-face with your clients, there are many benefits to virtual meetings.

Clients have already experienced the advantages of remote interactions. They’ve discovered that virtual access provides more frequent and better-quality communication than the annual review from their living room. (For more details, read “Skills for the New Normal: Why Your Clients Will Prefer Virtual Sales Meetings.”) Here are 10 reasons why we believe that virtual meetings will become an important tool for your practice:

1. More Efficient Use of Time

Even with a small territory, time is wasted when you travel to a meeting. Instead, use those hours talking to clients. Virtual meetings allow you to focus on each engagement and use the time between meetings productively.

2. More Frequent Contacts

A virtual meeting is usually shorter than a face-to-face discussion because there’s less small talk at the beginning and end. Since each meeting takes less time, you can have more conversations. Combining greater frequency, higher-quality information and shorter dialogues yields better results.

3. Easily Rescheduled

Virtual meetings can be rescheduled easily when plans change. This can be done without disrupting an entire day, which is especially valuable for sales professionals who have large territories or busy schedules.