Do you offer your clients exclusivity?



Next to their family and their health, a client’s wealth is probably one of the most important thing in their lives.  How often have you run into a client procrastinating about setting up wills, updating their life insurance, reviewing mortgage rates or even meeting with you? Sound too familiar?

We all want clients who respect what we do, follow up on details and come to meetings prepared to discuss their needs. When you reduce your clientele to a manageable number, you give them more service, more value and most importantly, exclusivity. It is human nature to want to be a part of an exclusive club.  And clients will respect you more if they know you are including them.

Here's an example from an FA we coach in Boston:

We have this client in for a review that was pretty unreliable as far a making appointments. We sat her down and explained our decision to work with only 100 clients and how we would have to let some of our clients go. The look on her face was sheer terror. After I told her she had made the cut she said she thought we had summoned her to say we were no longer going to work with her.

At the end of the appointment I asked her for an updated 401(K) and pension information. Usually we don’t get that follow-up information for months, but she got it to us within a week with a nice email. It was interesting to watch her reaction to what we were telling her. She was concerned she wasn't going to make the cut. That is our most tangible example of introducing the service to a client.

Our advisors have found that even their highest net worth clients are worried that they are at risk of being let go and will do everything possible to stay with them.  Do your clients feel that way about you?

Supernova can help you grow your business while taking even better care of your most important clients.  Join the Supernova Advisor Community today and we will show you how to implement ideas like these in your practice.


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