My Framework to Enhance Client Value – Part 1

Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

This is part one of a two-part series. Part two will appear tomorrow.

When I started my firm, Family Investment Center, back in 1998, I queried several local professionals about the design and delivery of their services. One local CPA offered this bit of wisdom: “Your clients will expect what you train them to expect.”

It was prophetic.

Registered Investment Advisory firms had been around since the 1940s, but the Charles Schwab organization and nascent technology were blazing a new trail. I was at the beginning, and there was no defined customer service model. I needed to create one.

Investment management and financial planning are intangible products. You cannot touch them. They are hard to define and hard to evaluate. As advisors, it is up to us to help prospects and clients appreciate our full value.

From the first time prospects and clients hear your name, these ideas will create an “ideal client experience” framework:

Public image is crucial to attracting new clients. Are you more like Charlie Sheen or Ronnie Howard? Advertising, direct mail, publicity, and public speaking create an impression of warmth, competence, integrity, and professionalism. The “most visible” advisor usually gets the new business; being visible and positive is intentional.