For Clients Expecting 5-Star Service, Exceptional Communications Is Not Enough—Proactive Communication Is the New Standard

For Clients Expecting 5-Star Service, Proactive Communication Is the New Standard

Top financial advisors understand that superior client communications are paramount to building a successful practice. That is supported by a widely published survey by Financial Advisor Magazine, revealing that 72% of clients cite poor client communications as the number one reason they leave their financial advisor.

If 72% of clients expect exceptional client communications as a condition for staying with an advisor, it’s no longer a differentiator—it’s merely table stakes for advisors who hope to compete for their business. So how can financial advisors who do focus on elevating the client communications game stand out to clients with higher expectations of what five-star service should look like?

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How to Prepare Your Clients for The Next Market Correction

How to Prepare Your Clients for The Next Market Correction

The Natixis Investment Managers 2018 Global Financial Professionals Survey revealed that 57% of advisors believe investors are unprepared for a downturn. This illustrates how difficult it is to convey the nature of turbulence to clients – and that volatility is an unavoidable part of the investment process.

Take the lead – prepare and educate your clients on the nature of market volatility. Then it will be far easier to counter their anxiety when the next market correction comes.

Here are 5 things you can do right away.

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How to Add Value to Clients’ Lives

How to Add Value to Clients’ Lives

Prospects often struggle to find the right financial advisor – in their eyes all advisors tend to look the same, sound the same and sell the same products.

Make it easy for prospects to choose you by communicating your value to them in your first meeting. And if they decide to work with you, make sure you continue to communicate your value to them as clients. If you bring the value you promised, there’s a high chance they’ll remain loyal and refer you to others.

Here are some ways to bring value to prospects and clients.

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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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6 Reasons Why You Should Develop a Succession Plan This Week

6 Reasons Why You Should Develop a Succession Plan This Week

Your ultimate success depends on your ability to create and maintain long-term relationships – relationships that are built on trust. If you want clients to trust you, they need to know you will be there for the rest of their lives. So, let them know you will put their interests above yours: Let them know that you have a succession plan.

Here are 6 reasons why you should have a succession plan in place.

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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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Focus on What’s Important

Focus on What’s Important

If you want to reach the top of your profession as a financial advisor, you need to focus on the basics. Dedicate your time to prospecting, asking for commitments and managing client relationships. Success will only come your way if you think gathering assets rather than DOL rulings and falling fees. So stop getting distracted. If you want to build a successful business, focus on what’s important.

Here are six things to focus on, starting today.

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