Philipp Hecker on Mastering Actionable Advice for Client Engagement

In this week’s episode of On the Circuit, host Johnny Sandquist sits down with Bento Engine’s Co-founder and CEO, Philipp Hecker. Listen in as they discuss the next frontier of financial planning, Bento Engine’s platform and how advisors can empower clients with actionable advice. 

Today’s discussion revolves around the evolving landscape of the wealth management industry and the crucial role of actionable advice in providing exceptional service to clients.

Philipp Hecker elaborates on the significance of offering proactive, actionable advice during pivotal moments in clients’ lives. These moments, ranging from life events like marriage and moving to age-based milestones, represent unique opportunities for advisors to provide impactful guidance to their clients.

“Lead with advice in both defensive and offensive terms, covering your entire book of business with relevant advice that creates real quantifiable value and peace of mind for clients,” Hecker says.

He goes on to explain how Bento Engine helps with this process. Bento Engine’s algorithms utilize APIs to scan a firm’s entire book of business. The platform then identifies upcoming advice opportunities, promptly alerting advisors and equipping them with compliance-approved, impactful content in various formats. This streamlined approach enables advisors to offer personalized, actionable advice to clients in a timely and efficient manner.

As the episode draws to a close, Hecker shares three essential tips for advisors seeking an edge in 2023. These include serving existing clients exceptionally well with scalable, personal advice, adopting proactive approaches to prospecting and prioritizing connections and constructive support for the next generation of clients and their families.

Listen in to hear the full episode featuring Philipp Hecker, and be sure to check out our other episodes!

Key Takeaways

1. Bento Engine is a platform that empowers advisors to offer proactive, relevant and impactful personal advice during critical moments in the lives of their clients.
2. The wealth management industry is shifting from product-centered solutions to advice-centered services.
3. Advisors should focus on engaging and serving the next generation of their clients’ families, especially since building strong relationships and providing financial literacy for children can help retain clients in the long term and benefit the industry as a whole.

Key Timestamps and Topics

• 00:01:00 – Bento Engine is an integrated technology and content solution that helps advisors offer actionable advice during important life events and age-based milestones. 
• 00:05:04 – Philipp emphasizes the value of proactive conversations for advisors, highlighting how it signals care and helps with client retention. He mentions a study that found at least four personal conversations per year significantly reduce the likelihood of clients leaving.
• 00:08:21 – The conversation explores whether advisors can effectively scale personal relationships and advice. 
• 00:14:14 – Philipp shares his tips for advisors in 2023, including serving existing clients well, focusing on moments that matter for prospects and connecting with and serving the next generation of clients in their families.

Relevant Links

• Download our free ebook, The Advisor’s Guide to Starting a Podcast
• Connect with a member of our podcasting team
• Learn more about starting your own podcast
• Explore Bento Engine

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