Effective Communication – A Two Way Street
Updated: May 9, 2020
Communication is an interesting paradigm that has dictated the direction of relationships since the beginning of time. By definition communication is “any act by which one person gives to, or receives from, another person, information about that person’s needs, desires, perceptions, knowledge, or affective states. Communication may be intentional or unintentional, may involve conventional or unconventional signals, may take linguistic or nonlinguistic forms, and may occur through spoken or other modes.” The reality is that the quality of the communication is in large part dependent on the perception of the information conveyed.
“ The single biggest problem in communication is the illusion that it has taken place.” – George Bernard Shaw
Open communication by both parties is a necessity and the need for the interaction is often delayed or over-looked for no reason other than it may be uncomfortable. Those tough conversations are often the most valuable and need to be put into context to ensure each party’s messages are properly conveyed and received. At Northland Wealth we do not fear those tough conversations. Rather, we embrace them, as they are the means to the end when trying to find solutions to a probable scenario that may keep clients awake at night. Communication is the catalyst for the generation of these solutions.
True understanding of an individual’s thoughts and perspective is paramount from an advisor’s standpoint. For example, a discussion around client investment goals, can simply be positioned around what type of “race” you want to run and how we measure success. Is it a sprint or a marathon? Do you need to finish in first, the top quartile, or simply just finish? With communication must come understanding. Clients of Northland Wealth entrust their financial well-being to us and as a result we must execute our fiduciary responsibilities in all aspects of this trusted relationship.
As much as we do a significant amount of leg work upfront to gain a firm understanding of our clients’ needs and objectives we realize that things do change. Whether it an event that dictates change, or something as arbitrary as client comfort or perception of the financial landscape, it is still change and change needs to be addressed. If there has been change in your financial or personal life we would like to hear about it. At our next meeting please make a point of sharing your thoughts with us, or better still, reach out to us to discuss them now while they are fresh in your mind. Your calls are always welcomed and appreciated.
We are always looking for feedback from our clients in areas where we can improve either the content or medium of communication. In the perfect world, face-to-face meetings at every point of contact would be ideal, however the realities of life for both our clients and ourselves do not allow that to be possible. Whether through phone, email or Skype conversations, our newsletters, the website or quarterly statements; we aim to provide our clients with the highest quality and frequency of communication possible. In the coming months we plan to make enhancements to our quarterly statements, allowing our clients easier access to the information they require, in addition to presenting information in an easy to understand format. Furthermore, we are planning to provide a secure client portal through our website to allow you access to timely information on your portfolio.
Regardless of the form of communication, we believe communication is paramount. We invite you to share your thoughts with us and we look forward to our next opportunity to interact with you.