Understanding how to cultivate strong client-advisor relationships is the key to success in the world of financial advising. Having happy clients means well-established, long-term revenue, and word-of-mouth referrals. In order to enable business growth through word-of-mouth, though, you first need to focus on how to nurture your clients in your current client base.
5 Steps to nurture your current client base
4. Be transparent. Nobody likes to be left in the dark, especially when it comes to their finances. If you are not transparent about what’s happening with your clients’ portfolios, they’ll likely lose trust in you. Before you know it, your clients will have moved elsewhere, and you’ll have a bad reputation. It does less harm for you to be transparent about everything (even if there are setbacks) than to not effectively communicate what’s going on. As advisors, we know that sometimes things take a dip before they excel, but your clients may not know that. Being transparent allows you to educate your clients on the ins and outs of what’s happening in the market and around the world, rather than merely hoping they catch on.
5. Let them be involved. It’s no secret that since the emergence of the digital age, many clients (specifically the younger generations) are expecting easy, digital access to their information – and why shouldn’t they? If you’re being transparent with your clients, then it only makes sense to allow them access to their information. Letting them get involved and be hands-on with real-time results and actions is vital to nurturing trust and building a lasting relationship.
Building stronger and more rewarding client relationships is what’s going to bring your business from good to great. If you haven’t met Benjamin yet, now is the time. We know that managing relationships, along with all your other responsibilities, can be tough, but he’s here to help you nurture your client relationships, but it will also help you become more efficient and eliminate missed opportunities.
Interested in finding out more about how Benjamin can help you? Contact us here.