You like talking with your clients when they aren’t stressed. They like talking with you when it’s not about an insurance issue and they don’t think you are trying to sell something. The week between Christmas and New Year’s is often a calm time. What a perfect time to check in.
- Talk about their children and grandchildren. Did they have a good Christmas? Did the parents get all the gifts wrapped and under the tree in time? Did they see their grandchildren via video calls? Were the children surprised by their gifts? What did they get?
One thing leads to another: Some relatives likely send checks. These are probably destined for the college savings account. Do they have one set up? If not, you could help.
- Year-end planning. Are they relaxed or are there any mad dashes before the end of the year? Do they have any questions about required minimum distributions from retirement plans? How about contributions, if they are younger? Any year-end tax selling they need to discuss with their financial advisor?
One thing leads to another: Do younger clients have IRA accounts set up? Have they wanted to do additional saving for retirement?
- Charitable contributions. December is a big month in terms of receiving solicitations from charities and sending checks to worthy causes. Are they all caught up?
One thing leads to another: Have they thought of listing a charity as a beneficiary on one of their retirement accounts? It’s not a bad idea if they won’t be needing the money during their lifetime.
- Have they started vacation planning for 2021? We hope the world will “reopen” around the middle of the year. Vaccine distribution should be widespread. Countries should reopen their borders once they get their own population vaccinated. It’s good to plan for the future, to have something to get excited about.
One thing leads to another: There’s no product sale in the pipeline. You are getting your client to think optimistically that things will get better. There’s light at the end of the tunnel.
- Are we coming out of 2020 wiser and smarter? What have we learned? It’s a serious question. Philosophical too. Things can change in an instant. There are things we can’t control. Our health is precious and must be protected. Layoffs still happen.
One thing leads to another: They may realize they need to do a better job of protecting their family. We aren’t immortal. You need the best health insurance possible. You need a cash reserve. You can help in some of these situations, if they ask: “What can I do?”
The week between Christmas and New Year’s is a good time to touch base with clients. They should be in a relaxed mode.
Bryce Sanders is president of Perceptive Business Solutions Inc. His book, Captivating the Wealthy Investor, can be found on Amazon.
For more from Bryce Sanders, watch “Turn friends into clients”.