Using Financial Advice to Calm Deposit Flight

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In the wake of recent banking instability, many financial institutions are struggling with customer retention. Spooked clients are questioning the safety of their deposits and to regain confidence they are looking to maximize their FDIC protection by diversifying where they keep their money.

How can advisors ensure that clients will keep their assets with you? The answer is to build trust.

Deposits become more “sticky” when associated with the trust built in a broader, full-service financial partnership. The growing demand for investment advice and financial advisory relationships plays a big role in keeping and growing in-house assets. The challenge for advisors is to build these strong and enduring relationships cost effectively and at scale.