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Client relationships Client relationships

Strengthening the advisor-client connection Strengthening the advisor-client connection

Manage expectations

Manage expectations by creating personalized client materials

Setting clear expectations can produce greater client satisfaction, enhanced loyalty and higher retention rates. Here are three ways you can set the tone for a successful, enduring relationship with clients.

 

Craft a client expectations guide

New clients, particularly those who may not have previously worked with a financial advisor, are especially well served when they understand some of the practical steps they can take to build the foundation for a strong relationship.

By creating a personalized client expectations guide, you can help new clients:

  • Ask the right questions about your services, compensation structure and communication approach.
  • Understand that they can contact you in a variety of circumstances where your counsel could be of value.
  • Appreciate the importance of an open, honest advisor-client relationship.

 

Take action

Print these PDFs to create your own client expectations guide.

 

Create a guide for initial client meetings

With each new client comes the practical process of investment management and relationship building. A well-conceived, well-managed onboarding meeting will allow you to set expectations and prepare new clients for the initial stages of the wealth management discussion.

Use these onboarding materials to:

  • Set your agenda and keep the meeting focused and within its allotted timeframe.
  • List the materials your clients should bring to the meeting.
  • Provide practical discussion points for your clients to consider.

 

Take action

Print these PDFs to create your own guide for client meetings.

 

Capture key information with client relationship profiles

Understanding your clients' preferences and communicating with them effectively are essential elements of a lasting relationship. In fact, research1 shows that clients cited poor communications as a leading reason for leaving an advisor.

A client relationship profile can help you:

  • Record details about clients' preferences and expectations including personal interests and learning and communication styles.
  • Appeal to clients in a more engaging, personal way.
  • Capture the preferences of other key decision-makers, such as a spouse or other trusted counsellor.

 

Take action

Print these PDFs to create client relationship profiles.

1 Spectrem Group, in partnership with Vanguard, 2015–2016. The affluent investor: Insights and opportunities for advisors. Valley Forge, Pa.: The Vanguard Group.

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