How well do clients understand their financial plans?

Financial planners create text document on Statement of Advice to clients that costs days and thousand of dollars to produce, only for some clients to come back, scratching their heads, with a ton of questions on the document. With the onset of pandemic that forced people to do video meetings instead, the concept of Video SOA was born, and more and more professionals and customers alike are pushing this medium as part of process in sealing the deal.

In this episode, Chris Schwager (Co-founder and Video Marketer of Ridge Films) is joined by Ben Marshan (Head of Policy, Strategy, and Innovation in Financial Planning Association), to discuss how Financial Planning Association has launched Video SOA Project Box Set in order to guide members in creating Video SOAs for their clients. Ben talks about the pushback on paper-based SOA, the benefits video SOA gives to both parties, and upgrading technology in order to meet their client's needs. Chris and Ben also banter about the pain points of professionals in learning new technology and how to systemise it into their process, and why video in email helps minimise context that can get lost in translation on text.

All in all, financial services is heading into an exciting phase as they dive into the world of video for both professionals and clients.

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