Imagine you’re a prospective client paying a first visit to a financial advisor’s office. What strikes you about the space? Does it look tidy, efficient and well ordered? Or is it messy, cluttered and chaotic? Whether or not an advisor wins a client’s business may well hinge on the answers to those questions.
“First impressions are lasting,” says Joanne Ferguson, a partner with Toronto-based Advisor Pathways Inc. “You want to inspire confidence about your ability to handle a client’s finances. And if your office looks disorganized, they may think you’re too busy and look elsewhere.”
A well-organized environment creates the impression that you have things under control, adds Tami Reilly, president of Vancouver-based Get Organized for Success Ltd. “Perceptions are important, especially at the beginning of the relationship,” Reilly says. “Clients want to feel confident that their financial advisors are on top of things, so you need to convey an aura of competence and professionalism.”
The state of your office also affects employee morale. Studies show that people work better and more efficiently in a well-organized office. A tidy workspace also means you waste less time looking for things and helps you feel that you’re in control of your work life.
Says Ferguson: “An organized workplace helps to minimize stress because you can find what you want when you need it. It also means fewer interruptions while you search for important information. ”
Unfortunately, getting organized is easier said than done. Many of us have to overcome internal resistance before we can tackle the mess. And the longer we wait, the worse the problem usually becomes.
If you need some inspiration, Ferguson suggests, recall a time when you couldn’t find a file or an important note because your office was disorganized.
“What were the consequences of that situation, in terms of your ability to work with clients?” Ferguson asks. “What did it cost your team financially? What about lost client opportunities? When you recognize the impact of the mess on your business, you’re more likely to resolve to keep it from happening again.”
If you’re feeling overwhelmed, Reilly suggests, start by taking a garbage (or recycling) bag and move around your office, throwing away everything you know you don’t need. If in doubt about something, put it aside to tackle later.
The next step is to group similar things. Designate piles for client correspondence, receipts, project ideas and others.
“Keep a to-do list handy and make notes as you go along,” Reilly says. “When you start writing, you regain control and the feeling of being overwhelmed recedes.”
Offices aren’t the only areas that need attention. Boardrooms — frequently the site of client meetings — are often a mess because they’re used to store old files and prospectuses. “The clutter distracts clients,” Ferguson says, “and makes it difficult for them to focus on the business at hand.”
Much of that stored material is probably outdated and easily disposed of, she adds.
What you keep can be stored in an area designated for that purpose. “Some advisors set up a library for client packages and prospectuses,” says Ferguson, “where everyone can find what they need easily.”
If space is at a premium, paper files can be stored at a secure, off-site location. Many firms now scan material and store it electronically, which is much cheaper than storing paper data. Electronic information is also easier to archive.
“You can scan most things, although some ‘old-school’ advisors still want to keep paper copies of files,” Ferguson says. “Ask yourself: ‘Why are we keeping this? How will we use it?’ And if you keep it, put it where everyone can access it.”
Exercise caution if you’re thinking of scanning files and destroying the originals, Reilly warns: “Files take up room but scanning is time-consuming. There can also be problems if a document isn’t scanned properly and the original has been destroyed.”
When moving to electronic storage, make sure you have a good backup system that’s been proven to work. “Also, have a disaster recovery plan in place,” she adds. “And make sure you’re covered, in terms of Canada’s privacy laws, which require you to protect client information, and the Canada Revenue Agency, which requires you to keep records for seven years.”
Once your office is in good shape, the challenge is to keep it that way.
@page_break@“Spend 15 minutes tidying your desk at the end of the day, even if you don’t feel like it,” says Ferguson. “That means you can start fresh every morning.”
IE
Get rid of clutter and make a good impression
A well-organized office environment indicates you have things under control and conveys professionalism
- By: JoAnne Sommers
- March 31, 2010 March 31, 2010
- 10:04