In this category you will find blog posts about clients relationship management – including but not limited to establishing trust, building a relationship, ending an advisor-client relationship, and more.

How to Connect with Clients Emotionally

How to Connect with Clients Emotionally

As financial advisors we’re objective thinkers. We use the left, logical, side of our brains, to work out the technical aspects of financial planning. But simply being able to do the math won’t differentiate you from the competition – even robo-advisors are pretty good with interest rates and algorithms. The way to stand out is to make an emotional connection with people.

Your clients won’t make big decisions based on the numbers. They will base them on how they feel about you, using the right (emotional) part of the brain. To form a connection with clients you need to work out what it is you have to offer them on an emotional level.

Here are three suggestions to help you connect with clients emotionally.

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Help Clients Get to Know the ‘Real’ You

Help Clients Get to Know the Real You

Before a client makes the decision to do business with you he or she has to feel you are the ‘right fit’ for them. They’re about to embark on a journey into what’s often unknown territory for them – so they need to feel a real connection with their selected advisor.

Build rapport by letting prospective clients see the kind of person you really are. Let your personality shine through.

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How Do Clients Choose a Financial Advisor?

How Do Clients Choose a Financial Advisor?

If you don’t know what’s going on in a client’s mind when they’re choosing a financial advisor, you won’t be able to present yourself in a way that meets their needs. And you won’t get selected.

So let’s take a look at some of the things likely to be on a client’s mind when they’re looking for an advisor…

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When to Call Clients to Keep Your Relationship Strong

When to Call Clients to Keep Your Relationship Strong

It can be tricky determining how often to contact your clients. While regular communication is key to maintaining a healthy relationship, calling clients every week or month probably isn’t feasible.

At the outset, aim to understand each client’s preferences and their expectations communication-wise and make sure it fits your business plan. Some clients will be more interested in the investment process per se and will want to hear your thoughts and recommendations on a more regular basis. You may also find that as time goes on and your clients learn to trust you, they will be more relaxed and require fewer calls.

However, there are certain times when calling your clients is the right thing to do regardless of any prior agreement. Here are some key occasions when you should pick up the phone and speak to clients.

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Don’t Let Clients’ Concerns Escalate: Tackle Issues Head on

Don’t Let Clients’ Concerns Escalate - Tackle Issues Head on

Meeting your clients’ expectations is the least you can do – it’s simply part of your job – so don’t expect to get a pat on the back for it. If you want to retain clients for the long term, you need to step up your level of service way beyond this and be more proactive than other advisors. Offer your clients a heroic standard of service by taking ownership of their problems before they become detrimental to your business.

Here are four ways to ensure you keep things on track.

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Believe in Your Value and Never Do These Three Things with Clients

Believe in Your Value and Never Do These Three Things with Clients

When prospecting see yourself as the professional consultant you are. Your job is of the utmost importance – you’re there to safeguard your clients’ financial future. It doesn’t get much more important than that and you are due respect.

So, if you find you’re fighting to win new clients, rushing through a presentation or apologizing for asking for the order, take a step back. Understand that you add value to your clients’ lives. Because of you people will be able to retire comfortably or get their kids through college. Your clients should feel privileged to do business with you, not the other way around.

Here are three things to avoid doing with clients.

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Be Prepared – Don’t Ever Run and Hide

Be Prepared - Don't Ever Run and Hide

What do you do when the market takes a turn for the worst? Do you wait for the storm to pass and simply do nothing – or do you reach out to clients and reassure them things will get better? According to recent research carried out by Financial Advisor Magazine failure to communicate with clients on a timely basis is the number one reason advisors lose clients. The upshot is you need to be prepared to talk to clients both in the good times and the bad times.

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