Four Strategies for Financial Advisors to Keep Their Clients Engaged

Ways to Improve Client Engagement Long-Term

Your clients are the foundation of your business – and that means client engagement is paramount for a financial advisor. You are focused solely on your clients – what they need, what they want, where they’re going, and who they can refer on the way. It can be hard to keep your clients engaged year-round, of course, especially during slower months. However, it’s imperative that you keep your clients tuned in to their finances consistently if you want to maintain that foundation of trust and keep your relationships on solid ground.

If you want to strengthen your client engagement efforts, try incorporating these four strategies into your work.

#1. Understand the contact expectations of your clients.

Some of your clients will only want to hear from you annually, whereas other clients may want to hear from you as frequently as once a month. Determining early on in your working relationship what your client’s preferences are is important so that you can manage this expectation as time goes on. Knowing what each client anticipates as far as frequency of engagement is the first step toward keeping them engaged.

If the natural opportunity to determine your existing clients’ contact preferences has passed, you can use this as a chance to reengage with them. Having a meeting with your current clients to figure out what they like about your working relationship and what they expect from you can be a great way to open the doors for even more honest and transparent communication moving forward.

#2. Host events to show your clients your appreciation.

A fun way to keep clients engaged and reconnect with them is to host client appreciation events. It could be something like a wine and cheese event, or perhaps a barbeque with outdoor games for the kids so that the event can celebrate the whole family. Hosting events like these can remind your clients that, while they’re busy with their own lives, you’re busy overseeing their financial plans and managing their portfolios. Utilizing events such as these can allow you to solidify relationships with long-term clients while also creating a sense of goodwill with their heirs – who could potentially be your next generation of clients.

A good rule of thumb with these events is to schedule them in a way that clients can come and go as they please so that there isn’t a lot of pressure to mold their schedule around your event. Don’t forget to follow up with anyone that attended the events to thank them for coming by and see if there’s anything that you can be working on for them before your next meeting. The follow-up is just as important as the events themselves.

#3. Find ways to connect outside of finances.

Though finances should be at the center of your relationship with your clients, you can find ways to engage with them outside of finances, as well. For instance, get creative by checking in with them to share valuable resources that you know they may find interesting or helpful. This type of connection can go a long way, especially as we come to the end of a global pandemic that has left many of us feeling a bit socially isolated.

If you aren’t sure where to start, begin by reaching out on certain holidays, remembering client anniversaries, or sending them a card for their birthday each year.

#4. Include the entire team.

Your efforts at increased client engagement may be in vain if you don’t get your whole team involved. So, think about the tone your office sets and encourage the entire staff to adopt the same energy that you’re putting out. From how they answer phone calls and emails, to ensuring that they keep client’s details straight, it’s important to reinforce and encourage your team to adopt an engaging, friendly attitude with your clients. Think about how you want clients to feel when they walk in the door – recognized and addressed by name, like a member of the family, etc. Share that with your staff so they’ll have context for helping you create a more engaging atmosphere.

Concluding Thoughts

As is the way with most businesses, keeping your clients happy as a financial advisor is key to keeping them loyal. Since it tends to cost more time and money to acquire new clients, showing your current clients your appreciation is a smart use of your energy. Take some time to focus on building client engagement that creates ongoing value, builds good rapport with your clients and their families, and generates referrals. In this way, client engagement strategies can be great opportunities for building the future of your business, too.

At TriCapital, we take care of the management side of your financial planning business so that you can focus on areas like client engagement, giving you the time and resources you need to help your relationships with your clients to flourish. If you’d like to start a conversation about joining our team as a TriCapital Advisor, please contact us today.

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