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Practice Management > Marketing and Communications > Social Media

Client reviews: Are you maximizing opportunities?

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If you’ve been keeping up with industry news in recent years, you’ve probably read countless articles explaining why clients leave their financial advisors. Among the many themes in these pieces, one of the most prevalent reasons for leaving was a lack of communication. Fortunately, this may be the easiest issue to fix. As an advisor, how can you continually help your clients plan and achieve their retirement goals if you haven’t taken the time to meet regularly or stay in contact with them throughout the years?

There are many ways to remain in contact with your clients. E-mail marketing, newsletters, phone calls, or social media are all effective ways to stay in touch. But nothing is more powerful than the in-person client review meeting. Client reviews provide a wealth of opportunities for both you and your clients.

Opportunities for the advisor

? Get to know your client better and build stronger rapport.

? Make updates to a client portfolio (i.e. beneficiary review, asset allocations, etc.).

? Inform your client of other resources you may offer (educational events, client appreciation events, referral events, etc.).

? Additional referrals and/or introductions to client’s friends and family.

Opportunities and benefits for the client

? Communicate with advisor.

? Get assurance that their portfolio is up-to-date.

? Take advantage of all that your firm has to offer.

? Receive ongoing advice on all life events that may impact their finances.

How often should you conduct client reviews? While you may set guidelines with your clients to meet 1-2 times per year, the decision should ultimately reside with the client. For some, a review meeting once a year may be enough, whereas others may want to meet bi-annually or quarterly. In the end, client reviews are a great way to build a foundation for open communication and trust between you and your clients. Make the most of your relationships and start scheduling more client reviews today!

Todd Greider is the training manager at Asset Marketing Systems, a leading independent marketing organization based in San Diego. With over six years experience in the financial services industry, his primary focus has been offering independent financial advisors comprehensive training programs designed to help them grow their business. He is active in social media communities and has written content for more than 100 e-mail marketing campaigns, Web sites and event promotional materials.

Connect with Todd on LinkedIn at

For more on client reviews, see:

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For more from Todd Greider, click here.


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