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Small Gestures Can Go a Long Way With Clients

Financial advisors can learn a lot about relationship management from successful real estate agents. Prior to the advent of online real estate data providers such as Trulia and Zillow, agents were the primary source of market data, such as listings and sales of comparable properties. Prior to the Internet, it was also difficult to sell and buy homes without relying on real estate agents.

Today, agents realize that they need to go the extra mile to generate referrals and build strong relationships. In many cases, they do that with small gestures that can go a long way in helping homeowners and potential buyers. More importantly, the gestures make clients feel valued.

Some agents, for example, may offer to check their clients’ homes when their clients are traveling to make sure that everything is in order and to remove newspapers from porches. While doing so can keep homes looking presentable, it can also give clients peace of mind because they know someone is keeping an eye on their properties.

In other cases, agents may use their knowledge of trends among homebuyers to help clients determine what kind of home improvements should be made. Some may even provide homebuilders with insight on finishing touches for new houses. For financial advisors, the hustle and bustle to provide quality advice can make it easy to overlook small gestures that can make clients feel valued.

Advisors who provide comprehensive planning services, however, possess enough knowledge about their clients to know when milestones—especially those involving family members—occur that can be celebrated with small but meaningful gestures.

The birth of a child, for example, can be acknowledged with a baby gift such as clothing in conjunction with discussing tuition planning, while the acceptance of a child to college can be celebrated with a gift such as a sweatshirt or other items that sports the school’s name. The client meeting is another opportunity to make clients feel valued.

Advisors should know enough about their clients to know which meeting times, such as morning, afternoon or evening are preferred, when proposing appointment times rather than randomly suggesting when meetings should occur. Plenty of opportunities exist during meeting, meanwhile, to make clients feel valued. Once clients arrive at an advisor’s office, small actions can go a long way in in making clients feel valued.

To start, advisors should consider having parking spaces that are reserved exclusively for clients. Advisors should also offer to hang up clients’ coats and store luggage or other items in closets. Many advisors will ask clients if they want anything to drink, but advisors can go the extra mile by making a note of what beverages their clients prefer and ensuring that they have the beverage on hand during future meetings.

At the same time, the value of small talk shouldn’t be dismissed and advisors should make notes after a meeting of any topics, such as a client’s plans for vacation, which may be good discussion points during future meetings. While following up on past conversations may impress clients by exhibiting an ability to recall topics previously discussed, it can also illustrate that an advisor is interested in a client’s lifestyle, hobbies, or passions.

Advisors should also walk their clients to their cars after meetings conclude. In an urban setting, it may appropriate to help elderly clients with luggage or other items, such as flagging a cab, especially during inclement weather. Outside of meetings, advisors should adopt daily practices that make clients feel valued.

For example, striving to return clients’ phone calls within four or five hours, even if the task is delegated to an assistant, can make a big difference in client satisfaction with an advisor. Even though many small gestures that can help clients feel valued are a matter of common sense, it is easy to overlook taking such actions during the busy schedule of an advisor’s day-to-day responsibilities.

With that in mind, advisors should go about their day constantly asking themselves how they would like to be treated as a client and if they can extend that type of treatment to their own clients.

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