3. Client contact
The third key area in which I provide value to my clients is ongoing client contact. In my practice we love to let clients know we care by sending a big vase of lollies when a client turns 55 and 60 to promote TTR, sending a couple of gold class tickets if they have referred a client to us, and sending handmade cards on their birthdays, which come with a phone call to check on their day so far.
In addition, our practice sends clients monthly newsletters, notifications when relevant legislation changes happen and a couple of review opportunities per year. Clients may not necessarily need you all the time but I believe I’m in contact just the right amount to keep them informed and interested so that I’m their first port of call for advice.
What has been your biggest mistake, and lesson learnt, in the last 12 months?
The biggest mistake I’ve made in the last 12 months was not asking existing clients for referrals. I found it difficult to ask and didn’t really know how to approach the topic.
After discussing this with a number of advisers from our office and other colleagues in the industry, consensus was unanimous; you just have to ask the question.
Without a doubt in my mind there is absolutely no better and a more trusted person than satisfied clients to help promote your business by referring their family and friends.
After educating and engaging our clients they feel more confident to discuss financial matters with close ones and this is usually a big step for our clients who previously may have felt unable to do so.
All clients have friends their age and our aged-based financial strategies are the perfect starting point for clients to spread the word about how we’ve been able to help them use the advice of a financial planner.
Client referrals now amount to over 70% of the referrals I receive for planning advice.