It’s no secret that financial education is critical to preparing people to make good choices for their futures. 78% of financial professionals strongly agree that financial literacy is an issue in America, and almost 90% have encountered financial literacy issues among their clients.
April is National Financial Literacy Month, which provides you with a powerful opportunity to share your wealth of knowledge to help people understand what they don’t know. In these uncertain economic times — your insights are more important than ever.
1. Host Financial Education Workshops
One of the best ways to make a positive impact while also connecting with potential clients is by offering free educational workshops in your local community (or virtually) on challenging topics such as Social Security, Medicare, estate planning, college planning, and taxes in retirement. Besides serving your community and empowering them to make smart financial decisions, hosting workshops allows you to sharpen your skills. Learning to explain complex subjects in easy-to-understand language, answer common questions, and even be challenged occasionally, gives you the practice you need to better service your clients.
2. Share Financial Literacy Resources
In addition to hosting an event, you can provide educational resources, such as articles, podcasts, videos, books, and social media posts to provide additional insights and financial wellness tips. There are a few things to keep in mind when it comes to educational content. Lengthy, comprehensive articles or books will likely be skimmed, and you may lose the opportunity to add value —which is why we highly recommend short-form content that can be easily and quickly consumed. It’s also important to ensure the content you’re sharing is relevant to your audience’s interests and financial goals.
3. Offer Financial Planning Consultations & Reviews
Financial Literacy Month is an excellent time to offer financial planning reviews to your clients and free consultations to prospects. Discuss their financial goals, fears, and concerns. By providing a comprehensive session, you can work together to identify areas of improvement and provide recommendations to help them achieve their financial objectives. For example, if your client is struggling to save, offer resources that teach them how to create a budget or invest their money for maximum return. The deeper, more supportive relationship you develop leads to more productive financial planning.
4. Collaborate with Local Organizations
Getting involved with local organizations, such as schools or community groups, can help you make a significant impact in your local community. There’s generally a low level of financial literacy around student loans and repayment options, which means there’s a huge opportunity to educate current and future students. Reach out to local schools and libraries and offer to host a financial literacy session for students and their families. This can help you build a connection with the next generation and strengthen your reputation in the community.
Providing free financial guidance and resources during Financial Literacy Month is a great way to do well by doing good. By laying the groundwork and educating your community, you will be top-of-mind when it comes time for your audience to start executing financial decisions. Your act of service may be rewarded as people might be more inclined to work with someone they already know, like, and trust. So, it’s time to get out there and get involved in your community during National Financial Literacy Month and beyond!
This article comes from NAIFA partner, White Glove. To read the original article, visit their website. Members can learn more about how White Glove can help their business in the Member Portal.
