Hold Semi-Annual Client Reviews
My own advisor always follows up each meeting with a short letter outlining what was covered and what we each need to do immediately or by the next meeting. -Larry Silver
Semi-annual reviews are also an excellent avenue for building trust. These meetings are for getting to know each other better. "I always ask about a client's family, job and leisure time, because I learn a lot through open-ended questions and can anticipate future financial needs," said one advisor. Another advisor noted that he allows at least an hour for each review if the client has more than $1 million and 30 minutes for smaller accounts. He also never schedules reviews back-to-back in case more time is necessary. That allows time to regroup and review the next client's material. My own advisor always follows up each meeting with a short letter outlining what was covered and what we each need to do immediately or by the next meeting.
-Larry Silver, director of marketing at Raymond James Financial until his retirement, in Keep Clients Happy with Regular Reviews
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Posted by Dennis Kagel on September 02, 2008 at 03:46 PM EDT #