Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.
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Dear Bev,
I’ve read a lot about different ways to show appreciation for clients: events to plan, gifts to send, newsletters to write, etc. In your opinion is there one thing that stands out more than anything else when it comes to letting clients know how important they are to us?
Kevin B.
Dear Kevin,
There are two words everyone likes to hear: thank you. The most important and personalized thing you can do is to handwrite a note telling your clients that you are honored to serve them. Recently, I did a sales training for a client. One of the other experts in the firm worked at the same event. We shared ideas and, I believe, added even more value because of the collaboration. In my mail a few days after the event, I found a handwritten note from Tom saying how much he enjoyed working with me, how he looked forward to doing so again and thanking me for sharing my wisdom. That note was more meaningful to me than the check I received for providing the training. Having someone take the time to handwrite an acknowledgment is so unusual in this day and age that it truly stands out.
I know advisors are busy. I recommend going through your client base and identifying 5-7 clients each day that you can write to. Don’t connect it to an event like a birthday or anniversary of working with your firm. Make it random. Get some nice notecards. They don’t have to be branded with your firm name. They could be plain yet elegant. Think of one thing you really enjoy about each person. You might write something like this:
“Dear Ann and Matt, I’m grateful for the opportunity to work with you in creating and guiding your important financial plans. I enjoy both of you and the wisdom you bring about (FILL IN). While I am thankful to be your guide, I also learn new things every time we are together. Thank you for allowing me to serve you.”
It doesn’t have to be dramatic or flowery. It can be simple and to the point. Most people in this fast-paced age of technology feel unnoticed and undervalued. Having someone say “thank you” is powerful.
Dear Bev,
Next quarter we plan on hosting a big client event. We are located in the northeast, and this has been a tough winter. We know our clients have not been able to get out very much. We’d like to do something fun and unusual but also valuable. Do you have any ideas for good events now that we can get out of the house again?
Norman T.
Dear Norman,
I live in the Boston area, so I totally know the “cabin fever” you are describing. The idea of getting out without four layers and a dog sled team is very appealing!
This is a great idea – to combine an event with the advent of spring. You could title it something like New Beginnings or Renewing Resolutions to tie it to financial themes. For a concept like New Beginnings it could be fun to have someone from a local farmer’s market come and talk about produce and recipes for locally grown food. This could connect to making financial commitments for “spring cleaning” and for committing to eating well. For Renewing Resolutions you could commit to new and old financial goals and then have a physical therapy expert talk about great exercises to do outside once the weather improves.
Some advisors I have worked with have organized clean-up days for their staff and then invited clients to join as a “give-back to the community” event. This would assume your clients are physically capable and in the local community, of course.
You can definitely get creative and tie your event to spring and to newness.
Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry in 1995. In 2008 she co-founded Advisors Trusted Advisor to offer dedicated practice management resources to advisors, planners and wealth managers. She is currently an adjunct professor at Suffolk University teaching undergraduate students Leadership & Social Responsibility. Beverly is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).
She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including the Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.
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Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here. 
