Once they’ve closed a deal with a client, too many advisors will “kick the can” when it comes
to providing service. They not only fail to stay in touch but also ignore key privacy and data security guidelines.
As mentioned in our last three columns, “kicking the can” refers to ignoring prudent practices. This had tragic consequences during the Vietnam War when U.S. soldiers kicked booby-trapped soda cans on the ground and paid the ultimate price. So how do you prevent kicking the can when it comes to client service?
First, commit yourself to ongoing client contact. This isn’t rocket science, guys and gals. It involves educating clients through periodic mailings and phone calls, responding quickly to their service requests and conducting periodic account review meetings. In this era of technology enabled communications, there’s no excuse for client abandonment.
Second, become an excellent record keeper. For every client, make sure to save copies of solicitation materials, meeting notes, needs analyses and signed letters refusing coverage. Why become a paper-trail pack rat? Because you’ll want to supply a state regulator, your carriers and E&O insurer with these records if a client complains or sues.