Recent research with investors indicates that the traditional model of client contact is not working in today's environment - as a result advisors need to consider new alternatives to how they communicate.

The reason is quite simple: Despite their best efforts, many advisors are struggling to meet escalating client demands for communication - and clients are at risk as a result.

In a research study by Ipsos Reid last November, 13% of Canadian investors said they are thinking about changing their primary financial advisor in the next year.

The main reason driving a possible change in advisor?

Almost half the time, the primary driver was lack of contact, with poor investment performance ranked second at 30%.

And this despite the fact that investors say face to face meetings and phone calls from advisors have increased significantly in the past twelve months!

The problem is quite simple.

Given markets since September, clients want to hear from their advisors more than ever before. Whatever frequency your clients wanted to hear from you a year ago, it's almost always higher today.

At the same time, many advisors say it's hard to sustain the same level of communication as a year ago much less increase it ... meetings and phone calls are not just longer, but they're also often harder. Some days advisors leave the office emotionally and physically drained.

To close the communication gap that often exists right now, advisors need to look at supplementing day to day meetings and phone calls with methods that can increase frequency of contact in a time efficient fashion.

Here are four ways to do this:

1. One of the best ways is to emailing relevant articles to stay top of mind.

For more information: http://www.strategicimperatives.ca/blog/?p=156

2. Invite clients to sit in on informal round table sandwich lunches - this approach also has a prospecting element to it.

For more information: http://www.strategicimperatives.ca/blog/?p=156

3. Conducting periodic conference calls, in which you invite clients to listen to an interview with a money manager or strategist from your firm.

For more information: http://tv.investmentexecutive.com/video-6120-Part-Quarterly-conference-calls-reassure-clients#TB_inline?height=360&width=400&inlineId=send_to_a_friend

4. Organizing a panel of speakers that provide useful perspectives.

For more information: http://tv.investmentexecutive.com/video-6024-Part-Advisor-touts-electionstyle-town-hall-meetings

Note that none of these are a substitute for face to face meetings and regular phone calls - but they can be an effective supplement. While they do involve a commitment of time, they are not typically high cost.

It's possible that as markets stabilize, demand for contact will return to previous levels. In the meantime, advisors need to think hard about how they provide the enhanced levels of contact that clients are looking for today.

For advisors interested in proceeding, I suggest you pick one of these methods and make it part of your communication arsenal, getting good at it in the process. By enhancing contact levels, you can buy time and patience from clients until markets recover and we return to more normal times.