The key to outstanding client relationships
Lots has been written about what advisors can do to create outstanding client relationships.
What’s often missed is the role that clients themselves play – quite simply, there are some clients whose mindset and behaviour make a deep bond impossible. In many regards, it’s clients themselves that more than any other single factor determine whether a strong connection is possible.
The fact is that advisors aren’t powerless victims when it comes to the clients you deal with – advisors do have a choice on this matter.
In August, a column in the Globe and Mail outlined seven attributes that investors can bring to the relationship with an advisor that allow an advisor to work more effectively and maximize the value those investors get.
While written for investors, this column also offers useful guidelines for advisors when talking to prospective clients. A previous Globe column outlined guidelines for investors seeking a new advisor, suggesting that investors write down the key things they’re looking for before meeting with a potential advisor.
Advisors should do the same – while you might still choose to work with a new client who doesn’t meet all your criteria, it’s nevertheless worthwhile to identify the important things you’re looking for in a new client – and the dealbreakers that might cause you to take a pass.
Finally, please note that the seven attributes in this column won’t be a fit for every advisor – they may be a starting point, but to be effective you have to take the time to identify the qualities in a new client that apply to you.
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