Create Great Relationships with Your Clients

Today I want to talk to you, not as if I’m talking to your clients; I want to talk to you about the type of relationship you have to create with your clients.

Listen to the audio or read the transcript below for details and stories on creating great client relationships. 

Marvin Brown, a dear friend, makes a great point. When a client takes you on, he or she is basically saying, “I’m comfortable getting into a long-term relationship with this person”.

If they don’t want to be around you long term, they’re not going to open the account because they know having a financial advisor is a long-term affair. So congratulations on getting the account, they’ve decided they’re comfortable with you.

Now I want to tell you about two friends of mine, and some place I think you’ve got to go with your client.

Try to be like these people. If you are – congratulations. If you’re not, this is a great goal for you.

Ed Harris is a good friend and a financial advisor in Johnstown, Pennsylvania. Ed tells me a lot of wonderful stories, but he told me one on a widowed woman who came in to his office. She was going to go buy a new car and she wanted Ed to go with her.

She said “I don’t want you there to help me pick out the car, I’ll do that. I want you there for another reason. My husband always told me I had to be careful of car salesmen. Just make sure the salesman is being honest with me, giving me a good deal. I’d like you to do that for me.”

What kind of a compliment is that? I said “Ed, I’m blown away!” He said “Don, I’ve been to real estate closings in an unofficial capacity, just to make my clients feel better knowing that I’m there looking out for their best interests.” Ed Harris is someone you should truly emulate.

Recommended product to help you build strong relationships with clients – Relationship Momentum for Financial Advisors, Webinar Replay

Tom Hague, also an independent advisor, told me: “I think in many cases the financial advisor has replaced the minister around the kitchen table. People tell us things they wouldn’t tell other people.” He says “I find cases where husbands tell me things they may not tell their wives and vice versa.”

But Tom went on and hired a social worker. And it’s just such a great idea, the social worker goes to his  older clients and makes sure they get their medications right, on time, proper doses, proper pills, etc., drives them to doctors appointments. How good is that?

So that’s what you’ve got to strive for. I urge you – remember the old ad, ‘Be like Mike’? Well, be like Tom and be like Ed. You could do a lot worse.

For more on building and managing the relationship, check out this intro video from Don Connelly 24/7

Here’s Don talking you through the podcast module about managing the relationship with your clients:

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* The podcast “Create Great Relationships with our Clients” first appeared in the Tools of the Trade Library on Don Connelly 24/7.


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