My Framework to Enhance Client Value – Part 2

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

This is part two of a two-part series. You can read part one here.

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:

Meetings should be structured and energetic. If your meetings are long, it is because you like them that way. For most people, a trip to the advisor rivals a trip to the dentist. No prospect or client enters your office seeking a two-hour meeting!

A rambling meeting sends several signals – and none of them are good; you lack focus, you are disorganized, and you have a lot of extra time on your hands. Yes, it is good to catch up and small talk can lead into heavier subjects. But no one outside your family wants to spend an entire morning with you.

Always under-promise and over-deliver. With intangible products, it’s important to manage client expectations. One way to do this is to always exceed the service standard promised. Add a day or two to deadlines and over-estimate costs or expenses. Deliver beyond your service promises. There is no magic better than this phrase: “We got your work done early.” Except maybe, “… and below budget.”