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Practice Management > Building Your Business

5 Things Advisors Don't Say to Their Clients (but Should)

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Most advisors don’t talk to their clients unless they have to – unless it’s time to renew something or up-sell something or be referred to someone for something.

It’s always something!

Given this, it’s no wonder the No. 1 reason clients jump from one advisor to another is because they don’t hear from their advisor enough. Your clients are looking for something, too! Yes, even the clients in your “C” drawer. Clients want to know that their advisors are looking out for their best interests and keeping them informed about what’s going on and what should be going on. This is especially true when the Dow and NASDAQ are dropping by hundreds of points and political parties are rocking the economic boat. This has become our daily economic climate, and your clients (and even your prospects) need to hear from you now more than ever.

What’s holding you back?

Maybe you’re afraid you might scare your clients away, or appear too needy and overbearing. If you’re coming from a place of service, integrity, rapport and mutual benefit, you have nothing to fear. And if you lose a client despite this, believe me, it’s a good thing.

By not having a process for reaching out to your clients regularly, you leave opportunity on the table every day. And I do mean every day. You miss the opportunity to retain your clients, do more business and generate more referrals. You lose the chance to answer more questions, present more solutions and build more rapport. Perhaps most important, you never get the chance to know your clients better and help them in ways beyond the scope of a financial advisor. You miss the opportunity to make a friend and the opportunity to have more fun.

So the question is, how? How do you reach out to your clients? Here are five suggestions you can implement immediately that will succeed in most scenarios.

Reconnecting with a client after a long period of time. “Hello Paul! It’s Michael. I hope all is well. It’s been way too long since we’ve spoken. Listen, I have to apologize for not doing a better job of staying in touch. I’m making a concerted effort to get to know my clients better. I always thought you were a nice guy and it would be great to find a time to catch up over the next couple of weeks, so that we can get to know each other better and see how we might help one another.”

Updating a client on the market/products/other business. “Hello Paul! It’s Michael. I hope all is well. I was just working on an account for another client and her situation reminded me of you. I would love to get together and discuss your long-term care coverage and some other ideas that may be very beneficial to you and your family. It may even save you a few bucks — and it would give us a chance to catch up!”

Reconnecting for business reasons. “Hello Paul! It’s Michael. I hope all is well. How does your schedule look over the next couple of weeks? Well, I have an idea. I know that we can be tremendous resources for each another. I would love to get together as two business owners and explore how we might refer business to one another. How does that sound?” (If your client is not in business, you can still explore how you might help one another professionally.)

Getting in touch for the fun of it. “Hello Paul! It’s Michael. I hope all is well. How would you like to join me for a Mets game before the season is completely out of reach? It would give us a chance to relax while getting to know each other better.” (This could also be dinner, breakfast, golf, whatever.)

Reaching out for no particular reason at all. “Hello Paul! It’s Michael. I hope all is well. I’m calling just to check in and see how you’re doing. How’s your family? Business? Golf game? How have you been spending your summer? Any big news?”

The big picture
What would happen in your practice if you made one phone call a day with the above in mind? Or, perhaps a better question: What will happen if you don’t?

If you’re an experienced advisor, then you have a book of business and can touch base with your clients regularly. If you’re a new advisor, simply apply the approaches above to your natural market and those you already know.

Keep in mind that, as time goes by, your clients and their families are experiencing the circle of life just like you. There’s always an engagement, a marriage, a divorce, a kid going away to school, a sickness, a death, a birth, a job loss, a job offer, a sale, a purchase or a new venture.

By reaching out to clients on a more regular basis, you just might establish a great relationship. Now that would be something, wouldn’t it?

Michael Goldberg is a speaker, consultant, author and the founder of Building Blocks Consulting. His book, “Knock-Out Networking! More Prospects, More Referrals, More Business!” is available now. For more information or to subscribe to Michael’s free blog, The Building Blocks to Success, please visit or


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