Richard Weylman took the stage at IMCA’s annual conference Monday afternoon to talk about creating an exceptional client experience.
Weylman (left), of The Weylman Center for Excellence in Practice Management, told the audience that a superior client experience is central to effective wealth management. He focused the interactive presentation on highly effective client communications, understanding the client’s needs and tailoring the wealth management team’s approach to fulfill those needs. His central theme was “What do affluent and wealthy clients really want from their financial ‘team?’”
Through his research, he has identified six “must-haves” for an advisor in order to have a successful client relationship:
There must be chemistry between advisor and client. The client is determining the “presence” you bring to the relationship from the very first meeting.
“Well, you might say, ‘of course, anyone would want their advisor to be friendly,’” Weylman said. “It goes far beyond that. They want you to personalize and humanize the experience. If you bring economic security, that’s good. If you bring emotional security, even better. But what they really want you to do is to effectively address their fear, uncertainty and doubt about their future.”
3) Personal interest
Advisors might know their clients hobbies, like playing golf and tennis. But do they know where their clients play golf and tennis? What are their special interests? Does the advisor know about the charitable, cultural or religious organizations to which the client belongs?
4) Undivided attention