In the financial services industry, it’s very easy to spend most of your time and resources on marketing for new clients. There’s nothing wrong with that, but it’s also very important that you continue to maintain a good relationship with your existing customers and to provide them with a level of customer service that they’ve probably never experienced with former financial advisors. Remember, you want your existing clients to come back to you for all of their financial needs and to recommend your business to their friends and relatives.

The stock market is in a constant state of fluctuation. Although we cannot predict the future, we can use common sense and historical data to adjust the investment strategies of our clients in order to help them receive better returns from year to year. Annual reviews will give you the opportunity to ensure customer satisfaction, address any questions or concerns and make adjustments to your clients’ investment strategies.

Around the middle of each month, we query our customer database for the purpose of identifying clients with anniversary dates coming up the next month. A mail merge is then used to prepare mailing labels along with an annual review letter and questionnaire. The purpose of this mailing is to let the clients know that they can set up an appointment with you should they have questions or concerns after receiving their anniversary statement. The questionnaire will provide the customer with the opportunity to inform you of address or beneficiary changes. They can also let you know of any existing or future investment issues. We get a lot of new business from existing clients through the use of annual reviews.

When clients call in for information on their account, it would be very simple to just give them the toll-free number for the company they’re invested with and let them communicate with that company directly. We choose to serve as the intermediary to make it very convenient for the client to do business with us. We constantly strive to build relationships with our clients so that when they have additional funds to invest, we will be the first option that comes to mind.

By communicating on a regular basis with your clients and making their lives easier, you will be much more likely
to maintain a high level of customer satisfaction. This will likely result in increased referrals and new business from your existing clientele. It really is all about the service.