CHRISISM #20 - Regularity & Continuity of Service

12 July 2016

When a potential client sees a financial adviser for the first time, one of the things they are fearful of is that the adviser is after a smash and grab raid on their wallet, and that once they complete the initial business, the adviser will not be seen for dust and will not be around on an ongoing basis.

Obviously many advisers in this day and age will commit themselves and their clients to an ongoing service agreement contractually, but I still believe that there is considerable mileage in verbalising this commitment in no uncertain terms right up front.

There are many theories on what approach works best at the introduction stage of a first client meeting, and believe me I reckon I’ve tried them all! However, there is no doubt what works best for me (and I believe for my clients). I treat the introduction to a first client meeting as my opportunity to set out my stall and create expectations on the part of the client as to what he/she can expect from today’s meeting, how that transitions into initial recommendations and, most importantly, what is involved on an ongoing basis.  

See Chrisism#9 for the first two aspects, but in relation to ongoing service, this is what I say:-

“Just before we go ahead and establish what your objectives are, I’d just like to explain a couple of things about how I go about running my business, which I believe fortunately for you are somewhat different to the norm.”(Talk about separating yourself from the pack!!) “ The first thing I want to make quite clear is that I am not interested in one off sales – only long term business relationships. Are you comfortable with that?

Also, given the range of services I have to offer and the number of different ways in which I will be able to help you over the years, would you agree that it all becomes fairly meaningless unless we do get together on a regular basis? If we don’t get together on a regular basis, then you can’t keep me abreast of any changes in your circumstances, which means I can’t keep you abreast of any new ideas or strategies that might become relevant in those changed circumstances, so it is if you like a condition of becoming a client of mine that we do get together on a regular basis, which initially might mean every 6 months until your financial houses are in order and then maybe once a year might suffice. Are you comfortable with that?”

Not only does this put your clients’ biggest fear to bed, but I believe it also acts as a perfect springboard for the first step in my 3 Step System for making referrals a natural consequence of business. But to find out more about that and a whole host of other gems in the client engagement process, you’ll have to come along to my RISK WORKSHOP in your capital city this month, but HURRY because time’s running out! 

Just click on the appropriate link below for details and registration, and I sincerely hope to see you there for what will be a life changing day. 

Register for your City using the links below.
Cost: $450 + GST per person
Earlybird: $400 + GST per person
Time: 9.00am – 4.30pm

The Risk Workshop by Chris Unwin

Are you a financial adviser who would like all of your clients to have appropriate types and levels of personal protection? But perhaps you feel you need a more structured and client friendly engagement process?