Communication

At Majestic Financial, we have employees in almost every age range.  From Sean at 40 years old (for the 18th time in September), to Brandon and Leon (both in early 40’s), to Max (22 years old but wise beyond his years), we cover each of the “GEN…”  What interests me is the differences in the ways we communicate with each other and our clients compared to just a few years ago – let alone decades ago.

My first job out of Alma College was working for Lanier Business Products, in Livonia, MI.  I was tasked with calling on law firms (as well as other major companies) in Troy, MI and selling them dictation equipment and this new technology called “voicemail.”  While almost every office understood the benefits of dictation equipment, no one in our Lanier office was able to convince any company of the value of voicemail.  “Why would I buy voicemail when I have people to answer the phone?”

Now keep in mind that this is 1990 – pagers were common, cell phones didn’t exist.  Want to call someone for a ride?  Use the payphone to call a cab.  Calling your sweetheart at college?  You might have to wait for someone to go get them and bring them to the phone in the hall or find the right dorm room to call.  Calling someone in Detroit from Kalamazoo?  That’s long distance, so watch the charges on your bill.  You may not get ahold of the person you wanted to talk to, but someone will pick up a ringing phone – just in case the call was for them (how else could you ever know who was calling?).

To some of Majestic’s employees – Max, Mark, Alyx, Kendra? – this may seem like a comedic movie.  After all, why would anyone answer the phone if you didn’t want to talk to the person calling?  But many of us – Sean, Laurie, Becky – lived most of our lives without caller ID.

While this is humorous to look back on, it also makes the differences in communication seem light years apart rather than just a few decades.  At Majestic Financial, we have employees in 3 different physical offices, plus one in Denver, CO.  We have clients in more than 30 different states, and in every county in MI.  Yet we are in constant communication with our clients and fellow employees.  It’s just often a different form of communication than when I entered the workforce.

At the office, we are all talking via Microsoft Teams.  Not only does this allow real-time communication, but if someone is busy or gone, the messages will still be waiting for them when they are available.  We have meetings with clients in person (just like 30 years ago), but also via Zoom, Microsoft Teams, WebEx, and using this thing called a telephone.  Ironically, I have more meetings with MI based clients via the computer than I do in person!

At Majestic, we are trying to make sure that we stay in contact with clients in a world that makes it seem easier to connect, but in fact it is harder.  While everyone has a cell phone, getting them to answer it is much harder when they can decline the call, send it to voicemail and find time to call back (assuming they remember that they need to call us back).  We can’t communicate via text while the rest of the world seems to ONLY communicate via text.

So, this is why we send our clients emails, produce a quarterly newsletter, host client events almost monthly, and host quarterly virtual meetings for various topics.  We want to make sure we are on the same page as our clients – even those clients who have granted us discretionary authority.  We are aware that life changes and this can change goals or liquidity needs.  Hopefully we are top of mind for our clients when their needs change.

Being one of the dinosaurs of Majestic Financial, I understand that sometimes it seems like clients get too many emails, or too many phone calls.  I also wish that there were more hours in the day available for in person meetings – even though a larger % of clients prefer to meet virtually than in person now.  I can envision the day when Max is having a client appointment with his boss (Kendra) and they are projecting their avatar into their client’s home office.  That would make many clients happy, and hopefully I’m long retired when that’s happening.
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Please feel free to let us know how/when you would like to communicate with us.  If you are “old-fashioned,” we’ll just explain to Max how to use a rotary phone.
 
Written by Sean Budlong, CFP®, AAMS, Chief Executive Officer, Majestic Financial, Financial Consultant, RJFS
 
*Disclosures: Any opinions are those of Sean Budlong and not necessarily those of Raymond James. Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation. Every investor's situation is unique and you should consider your investment goals, risk tolerance and time horizon before making any investment. Prior to making an investment decision, please consult with your financial advisor about your individual situation. There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. This information is not intended as a solicitation or an offer to buy or sell any security referred to herein.