Communication as a growth lever for FSP – Part 2

Craig Grasko, Business Development Director, FSPHub 

In the first part of this series, we explored how communication serves as a critical growth lever for financial service providers.  

We examined the hidden costs of fragmented communication systems and how centralising client interactions creates operational efficiency while enhancing client experience. We also looked at how digital form solutions can transform cumbersome document processes into seamless interactions. 

Now, let’s continue our exploration of communication as a strategic business asset by looking at how modern communication channels can be integrated into your practice and the direct impact this can have on business growth. 

Meeting clients where they are – The ubiquity of messaging platforms like WhatsApp presents both opportunity and challenge for financial advisors. Clients increasingly prefer these channels for communication, but managing these conversations in a compliant, organised manner can be daunting. 

Forward-thinking practices integrate these channels into their workflow systems. This ensures that WhatsApp conversations, like all other communications, become part of the client’s unified record. When a client messages about a claim or inquiry, it can be seamlessly assigned to the appropriate team member, with the entire exchange documented and accessible. 

This integration allows advisors to meet clients where they are without compromising on compliance or organisation. As Sean Barrett, our CEO, recently noted, “We built this to be powerful, secure, and fun to use. Advisors who try it often wonder why they didn’t make the shift sooner.” 

Leveraging communication for growth – The most compelling aspect of strategic communication is its potential to drive growth. By implementing a systematic approach to client communication, financial practices can: 

1. Identify cross-selling opportunities through better visibility of client needs and life events 

2. Enhance retention through consistent, valuable touchpoints 

3. Generate referrals by creating remarkable client experiences 

4. Improve team productivity by eliminating communication inefficiencies 

Michelle Swart, our operations manager, emphasises that “everything you need regarding your client is in one place. You don’t need to follow up with several people to check on the status of a task. You simply go into the client file, and all the information is there.” 

The integration advantage – One concern we frequently hear from financial advisors is whether new communication systems will work harmoniously with their existing administration platforms. This is a valid consideration, the last thing any practice needs is another siloed system. 

The most effective approach is not replacing existing systems but rather integrating them. FSPHub was designed specifically as a hub that connects with policy administration systems and investment platforms through APIs or secure file transfers. This allows practices to maintain their specialised systems while gaining the advantage of centralised communication and workflow management. 

Beginning your communication transformation – Transforming communication from a necessary function to a strategic growth asset doesn’t happen overnight, but it doesn’t need to be overwhelming either. The key is implementing incremental improvements that deliver immediate value while building toward a comprehensive solution. 

For practices looking to enhance their communication strategy, I recommend starting with these questions: 

• How much time does your team currently spend tracking down information across different systems? 

• What percentage of client forms require manual data entry after completion? 

• How do you ensure timely follow-up on client communications? 

• Can you easily access a complete history of client interactions across all channels? 

The answers often reveal significant opportunities for improvement that directly impact both efficiency and growth. 

Communication as your competitive advantage – In today’s competitive financial services landscape, communication excellence is a key differentiator. Clients increasingly choose advisors not just for their technical expertise but for the quality of their communication and service experience. 

By transforming communication from a fragmented, manual process to a strategic, integrated system, financial service providers can simultaneously improve operational efficiency, enhance client experience, ensure compliance, and drive growth. 

If you’re struggling to manage your daily workflow as an FSP, you’re not alone. Tools and resources are available to help you turn daily obstacles into opportunities by taking a workflow approach to both tasks and communications, bringing you a single-client view and freeing you to focus on what matters most to you and your clients. 

Let’s continue the conversation – If you’d like to discuss how FSPHub can help streamline your workflows, enhance client engagement, and drive business growth, please reach out directly. I’d be delighted to arrange a demo or simply have a conversation about the challenges you’re facing. 

You can contact me at craig@fsphub.co.za