A financial advisor’s relationship with their clients will help determine how simple it is to make sales and how long the clients remain loyal. If you want to enhance and strengthen your relationships with clients, try these four steps.
1. Exhibit your expertise
There’s a reason why people go to the experts for certain services. They’re doing it because they understand others have a more thorough knowledge of a particular topic or discipline and their return on investment is better by relying on them rather than themselves. But clients aren’t going to take your word for your expertise; they want to see it in practice. Establishing a blog, online education portal, a seminar or class, newsletter, or a simple weekly email to educate clients on insurance and financial topics is a great way to showcase your expertise and help clients better understand the many levels of their financial planning needs.
2. Respond quickly
Few aspects of professional relationships are more frustrating to clients than advisors and agents they constantly have to chase down. Everyone is busy, but given the variety of means by which people communicate – from text messages to voicemails and emails – everyone has the time to touch base. Advisors who are responsive help clients feel respected, appreciated and safe.
3. Practice patience
As a financial professional, it can be difficult to remember what it’s like to be new to a particular concept or tool. Your familiarity with life insurance and its many benefits might make you overlook how challenging it is for clients to understand the plans and options you present. You must remain patient and give the client the time they need to understand how your proposal meets their individual needs.
4. Offer innovative options
Your prospects may have already met with one or more agents before meeting with you. One way to set yourself apart from the others is by proposing interesting, safe, underutilized tools that help clients maximize their financial planning methods. One such tool is premium financing, which allows your high-net-worth and business-owner clients to secure life insurance policies without liquidating assets to pay for premiums.
By integrating any or all of these approaches, you may find prospect conversion and client retention far easier. You may even see your referrals increase as your clients recommend you to their friends and family, allowing you to spend less time and money marketing.
