What is your number 1 requirement when it comes to managing Client Correspondence?
There is no shortage of correspondence and communications between an Advice Practice and their Client. This can come direct from the client, from their accountant, from fund managers not to mention the correspondence created internally within your business. When it comes to managing these documents, there are many schools of thought around 'how to store' and 'where to store' this correspondance. From CRM solutions to Cloud Storage to internal servers to paper! So many factors need to be considered such as ease-of-access, security, cost to the business, and protection from theft or loss. When it comes to managing your client correspondence, what is your number 1 requirement (or top 3 if you can't narrow it down) and what drove you to pick your current method?How do you ensure a consistent client experience?
In follow up to my article No adviser is an island, I'd love to know what practices are doing to keep the client experience front of mind for everyone in the team? How do you ensure the clients receive a cohesive experience from everyone they encounter in your practice?Creating your vibe
You need one thing above everything else, to create a vibe which is genuine and personal for your clients – you must truly know your clients. Unfortunately, it’s our experience that very few practices are taking full advantage of their CRM functionality to capture the information they need to create that key personal, relationship building information. And, even if it’s being collected at the onboarding stage, few practices deliberately maintain this information. Simple info such as their children’ names (and their occupation or education level), details of the client’s preference for morning or evening meetings, coffee or tea, in-person or virtual meetings, wine or the ballet or both (will allow you to provide interesting content for your communications, plan events which appeal and so on), what the client is planning to do once the retire, when’s their next major holiday and so on. In other words - the ‘life stuff’. What info do you collect (and maintain) to build meaningful, long term relationships with your clients?AMA: I’m Jessica Lamb, director of Practice Dynamix, Ask Me Anything!
With over 15 years of experience in the financial planning industry and experience working with over 350 advice practices around Australia, I help bring businesses into the future. On Wednesday 24th April from 11am to 11:30am, I will be available to answer any burning questions you might have. Whether it’s about utilising the power of technology in the advice process, integrating sound business processes or uncovering Xplan’s hidden gems – start popping in your questions below and Ask Me Anything! Update: This AMA has now ended but please continue to pop your questions down below or in the discussion forums and make sure you tag me at Jessica-Lamb .What are the top 3 things you do in your practice to provide a great client experience?
I loved Kim-Payne 's latest video on Baselines, blind spots and black holes in the client experience. It can get so overwhelming to know where to start sometimes, focusing on those moments that really matter is a great approach. Have you watched the video? I'm keen to hear what top 3 things you do in your practice to excite and delight your clients?
How do you approach your self-employed clients?
In our latest post we commented that, according to our CATScan client satisfaction database, self-employed clients were generally less satisfied with their adviser when compared to the satisfaction levels of other client types (employed, retiree). We went on to offer a few tips to perhaps lift their overall satisfaction. Given that around one in seven clients of Australian advisers are self-employed and they invariably have multiple and diverse needs, it surely begs the question - how do you approach your self-employed clients? Do you consciously differentiate your 'how' or are they treated in exactly the same manner as all clients? But perhaps the first question is - when was the last time you sought their feedback? For your consideration.
Client reviews
G'day All There is always a lot of focus on new client engagement and SOA production. Given most practices have way more ongoing clients than new, how are you finding the process of arranging review meetings and preparing review documentation? Could this area and the report we provide clients at review time do with some focus?What is your #1 efficiency tip for this year?
Are you streamlining client comms? Automating documentation? Updating your compliance process? Whether you are in the midst of planning, or are already in BAU - what is your number one efficiency tip for this year to ensure you are effective and able to achieve your 2024 goals? Let us know!How do you stay focused on the right client?
I think the best of us get sidetracked into helping people with their challenges, especially when that's what we've had training and experience in. I'm curious about how other advisers, or even business owners "stick to their knitting"? It's so easy to say "yes" to someone especially if things are a bit quiet but what tips and tricks do you use to say "no" to stay focussed? MatTenison JennyB DebKent What to do if a referral isn’t right for you | Advisely
