A rewarding retirement requires disciplined preparation. Help your clients prepare for the emotional aspects of the transition, too – not just the financial facets.
Preparation is an essential component of an athlete’s life in order to perform under the pressures of competition. I believe this should also be the case for financial advisors in their client review meetings. When the spotlight turns on, you are seated across from your client and it is time to deliver – will you be ready?
Consider these deceptively simple steps to help build strong, trusting relationships with investors.
Help clients understand the value you offer by simplifying how you explain your role. As in, “I’m like an orchestra conductor – for your portfolio.”
Consider how you can employ “commitment devices” with your clients to battle certain investor behaviors.
Many financial advisors recognize the power of client referrals, but many aren’t focusing on a key strategy: asking for referrals.
Sandy Cavanaugh and Dr. Jeff Belkora discuss how financial advisors can better build trust with their clients.