If the worst thing a client can tell their financial advisor is “I am moving my account to another advisor,” the second-worst thing is, “You only call when you want to sell me something.” How can you change this perception and stay on your client’s radar? There are plenty of ways:
- Be active on social media. This works if your client is also active on social media. I have a LinkedIn connection who is also an MDRT superstar. Every morning starts with seeing her daily post on my LinkedIn feed. I find myself looking forward to what she will share that day, and I’ll often comment on her posts. This strategy can work for you, but check your company’s compliance rules first.
- Produce a client newsletter. Your company likely has a template that would satisfy compliance requirements. Then plug in your contact data and photo, and your client gets useful information on a regular basis. Clients are learning, not solicited.
- Plan client recognition events. This might be done in tiers based on client activity levels. Wording matters. For example, you could refer to a seminar as a briefing, which changes the perception and adds a feeling of exclusivity. Regardless of whether they attend or not, they will remember you extended the invitation.
- Schedule periodic reviews. You are doing this anyway, at least on an annual basis. This might be by video call, but it is ideally in person at their home or office. You might be reviewing their coverage levels, updating their financial plan or asking, “Has anything changed?” The client is getting value; you aren’t “selling,” but you might get business.
- Take them to lunch or coffee. When you sit across from them, you strengthen the relationship. If they are thinking of moving their account, you get clues. In that case, it’s an early warning system. Many clients like to get “something for free.” It gives them something to talk about.
- Get a logoed item into their house. Years ago, I learned about an advisor team who would serve clients coffee in logoed mugs when they visited the office for reviews. If the client admired the mugs, the advisor would ask their assistant, “Do we have any extras around?” Their assistant would appear with a boxed pair of mugs. (They likely have a stack in a closet!) Every time the client uses the mug, they think about their financial advisor.
These are all “touches” clients will appreciate because they add value or make them feel special. They should not feel they are being sold to, although each action might lead to business.
Bryce Sanders is president of Perceptive Business Solutions Inc. His book, “Captivating the Wealthy Investor,” is available on Amazon.
To discover more ways to keep clients engaged, read
- 5 ways to deliver excellent service and become indispensable to clients (MDRT member-exclusive content
- Language matters: Increase client retention and income
