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.

5 Costly Mistakes That Could Lose You Clients

5 Costly Mistakes That Could Lose You Clients

When a client takes you on, they’ve decided they’re comfortable getting into a long-term relationship with you – and that’s a huge compliment. If you want to retain them, you must work hard to maintain the integrity of that relationship over the long term.

Don’t make one of these errors, or you could end up in the firing line.

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5 Signs That It’s Time to Let Go of a Client

5 Signs That It’s Time to Let Go of a Client

Signing up a new client – any client – feels like an achievement, especially for new advisors. Keeping money coming in is after all the number one priority. Over time however you’ll find that you have two types of clients: Clients you actively look forward to speaking to i.e. those who are pleasant to do business with, make realistic demands on your time, and are fully onboard with your ideas. And then there are the others – the ones you come to dread dealing with.

As a financial advisor you should aim to only work with clients who are enjoyable to deal with and profitable. It’s not only acceptable to prune out bad clients – but essential to keep your business healthy.

So how do you know when it’s time to let go of a client?

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4 Behaviors to Avoid if You Want to Allay Client Concerns

4 Behaviors to Avoid if You Want to Allay Client Concerns

In the first meeting with you, prospective clients may be unsure if investing is the right thing to do. They may also have concerns about whether you are the right person to advise them. How you behave in your first meeting will dictate what happens next. You need to act to allay not only their objections around the investment process itself, but to eliminate any concerns they may have about working with you personally.

To make sure you leave them in no doubt about your ability, never do the following four things.

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Getting Clients to Talk about Money

Getting Clients to Talk about Money

As financial advisors we’re comfortable talking about money, it’s what we’re trained to do. But for everyone else it’s a different story. Most people feel uncomfortable talking about money, so you need to consider how to introduce the topic in a relaxed way.

Don’t dive into the numbers at the initial meeting. Instead focus on building rapport with clients; then ask them what it is they want money for. The goals must come first – then the money. Once you understand your client’s vision of the future you can start doing the math on how to get there.

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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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