3 Habits To Follow For Your New Financial Advising Clients

One of the most exciting moments in this career is hearing that first “yes” from your prospect. But, that is usually quickly followed by, “what’s next?”

Here at Consolidated Planning, failure as a financial advisor will not be due to a lack of resources or internal communications. Our senior leaders personally carve out time to check in on you. Just like you will have regularly scheduled check-ins or touchpoints with your clients, we will do the same for you.

In this article, we will share three habits to add to your practice model with each and every new client so you can ultimately retain those hard-earned clients.

 

#1 Add Your Client Into The Customer Relationship Management System

While this might sound simple, it’s surprisingly an overlooked step. At Consolidated Planning you will have access to our CRM which easily integrates with Office 365. This tool will help you better leverage vital client information in a new way.

We’ve all heard the saying, garbage in, garbage out. By regularly and accurately utilizing your CRM, you will build stronger relationships. CRMs typically host a variety of information from the little details to the big picture. Tracking birthdays, milestones, the diversity of your client’s products, and full client history, helps you deliver personalized service to each client.

As your practice grows, you will thank yourself for putting in the extra effort upfront.

 

#2 Schedule Check-Ins With Your Clients

As a consumer yourself, think about the last time you or a family member heard from their financial advisor. Was it a few weeks ago, a few months ago, a year ago?

As one financial advisor with many clients, it can be easy to get overwhelmed with how to best keep up with your clients and their varying expectations. One way you can deliver a high level of customer service to your clients is by staying top of mind. What does this mean? This means constantly evaluating the next opportunity for communication with your clients and scheduling it on your activity log.

These check-ins may include annual reviews, quarterly check-ins, life events (new job, relocating, marriage, divorce, growing family, etc), a birthday call or email, and any other areas you see fit for your clients.

There is always a chance that a client is pleased with just their annual review, but you always give them additional chances to express any concerns they may have.

The devil is in the details and details as a financial advisor make all the difference in retaining your clients.

 

#3 Maintain The Client-Advisor Relationship

Securing a new client is only half the battle. Maintaining your client relationships needs to be an ongoing step in your process. The CRM provides support in storing and organizing your client data, but it’s up to you to follow through.

So, what can you do before and after every client meeting to maintain the relationship?

After each client meeting, spend a few minutes documenting your discussion. Was there something your client emphasized, personal information they shared, or anything else you deem relevant to the relationship? Jot it down so these before and after habits come full circle.

• Mention of an upcoming trip
• Up-sizing or down-sizing a home
• Long-term goals
• Short-term goals
• Concerns about the market

Before each client meeting, schedule 15 minutes on your calendar to review what was discussed at the previous meeting. You never want to walk into a meeting unprepared and this is one way to ensure you have your client top of mind, delivering the personal experience they expect with you as their financial advisor.

 

How Will You Retain Your Clients As A Financial Advisor?

If you are wondering what’s beyond starting your career as a financial advisor, this is it – the ability to retain your clients. The longevity of the client-advisor relationship starts from day one.

Remember, ultimately people choose to work with you because they like you and trust that you will do right by them. This is why financial advisors at Consolidated Planning lead with people and not products.

If you’re ready to explore how you will find your clients, reach out to our recruiting team to start the conversation.

 

Exp. 10/2027

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Consolidated Planning, Inc. is an Agency of The Guardian Life Insurance Company of America® (Guardian), New York, NY. Securities products and advisory services offered through Park Avenue Securities LLC (PAS), member FINRA, SIPC. OSJ: 6115 Park South Drive, Suite 200, Charlotte NC 28210, Phone # 704-5528507. PAS is a wholly owned subsidiary of Guardian. This firm is not an affiliate or subsidiary of PAS. This material is intended for general use. By providing this content Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity.