By Ronnie Kaymore

Keeping up with Technology When Your Clients are 18-20 years old!

How it Works

So when you have clients that are 18-20 years old and very technology savvy, their parents who are not, and you are in the middle, how does communication flow? I can say from experience - pretty well with challenges!

This generation moves very fast and I have to keep up with professional athletes (my client niche) who are scattered across the country. As I have mentioned in previous articles, involving the parent is key to the process and that could mean introducing them to various virtual platforms. As you would expect, Zoom has become a necessary blessing. By now, most clients and their parents are familiar with the technology and it provides connectivity no matter where all parties live.

Before, as with most consultants, I would need to interview in person, which in my world of professional sports made for a lot of traveling. In the real world, this generation accepts and actually expects virtual interaction. Who would have projected years ago conducting business from a coffee house or from a hotel room? It is a major part of what I do now, utilizing my three most important pieces of technology: an ipad, iphone, and basic laptop that provides ways to get document signed. My process is very streamlined.

The Challenges?

• Not Tech Friendly Enough The complaints I get from my clients are that sometimes the processes are not tech-oriented enough. This might include where to scan and receive faxes as emails or sign and send options (Docusign). Having to physically print a document and sending it back are constant complaints. Players advocate for more tech-friendly interactions and perhaps make decisions against organizations that can’t fill those needs. In essence how tech-touch these organization are or aren’t may be a deal breaker when it comes to servicing this generation. One young man opened up a business banking account and found that he could not scan to deposit a check. The Kid was in Georgia and the Bank was in California.

• Staying focused Being in a virtual meeting with these younger clients sometimes involves finding the best time to meet and keeping their attention span. Virtual distractions could include a client playing video games or talking with their buddies. You have to go through a break-in period learning the personality of the client.

• Being Tech-Attractive to the Prospects and Clients I do not have cool Instagram account – but I have to understand and appreciate the ramifications of what an active Social Media presence and visibility means to someone who gets national media attention. Frequently, players have marketing reps that teach them how to market themselves and grow their following thus increasing their brand visibility. When they are playing for their team, that is W2 money. Marketing is a separate monetary benefit. That is where the consultant can help differentiate between the two. I have one collegiate player that has already has $1 million in deals lined up. As their financial consultant we have to consider NIL (Name, Image, Likeness) taxes.

• Keeping Current It’s important to keep up how technology benefits the financial services industry – and it changes frequently. Being attuned to how organizations are catering to this generation is critical. It may come down to Bank A you are recommending is more tech savvy than Bank B as a deciding factor.

• The Worst Nightmare When dealing with technology at the end of the day, my worst nightmare is with all the passwords. If I can no longer utilize fingerprint technology, I am extremely hampered.

Meeting the above challenges is what I do. Using technology makes the task easier. At the end of the day however, the values have not changed, the strategies have not changed – technology constantly is just updating the delivery.

Ronnie Kaymore, RFC® is a former professional football player who works with over 200 professional athletes from an insurance perspective – covering many areas including retirement.

Ronnie Kaymore, RFC® Kaymore Sports Risk Management Phone: (973) 715-0574