The not-so-secret secret to enduring success lies not just in the numbers, but in the strength of the relationships you build. Strong relationships create client persistency and makes you super-referable (to get more unsolicited referrals).

You’ve heard about “working IN your business versus working ON your business.” Of course you have. Now, have you considered transferring that concept to your relationships? Not just working IN your relationships, but also working ON your relationships?

Principles ~ Strategies ~ Tactics

The Courage to Seek Truth

At the heart of every thriving advisor-client relationship is the courage to seek and face the truth. This means not shying away from asking the hard questions. It’s about creating a space where clients feel comfortable sharing their genuine thoughts and feelings about the service they’re receiving.

Remember, the goal is to uncover the real value they perceive and any areas that might be improved.

1. The Relationship Review
   A Relationship Review is more than a meeting; it’s an opportunity to reconnect on a deeper level. Aim to conduct these reviews at least annually (some advisors do them more often), focusing on clients who are most at risk or hold the most value to your practice. This is about reaffirmation of trust and connection that will contribute to retention and referability.
   
   
2. Engaging in Value Discussions
   Value discussions are at the core of client engagement. It’s not enough to assume clients understand the full extent of the value they’re receiving. We must make it explicit.
   
   · Highlight Achievements: Remind clients of the milestones reached and the financial hurdles overcome. Ask them how they feel about these achievements. Get them to articulate the value.
   
   · Ask for Feedback: Courageously ask clients to rate their satisfaction and be open to their responses. This is your chance to address any concerns and reinforce the positive aspects of your relationship.
   
   
3. Checking Expectations
   Expectations evolve, and so should your communication and services. Regularly checking in on your clients’ expectations ensures that you’re not just meeting but exceeding their needs.
   
   
4. Working ON the Relationship
   Working ON the relationship means continuously seeking ways to improve and deepen the connection.
   
   · Client Appreciation Events: These events are not just social gatherings; they’re opportunities to strengthen connections and show clients they’re valued beyond just a transactional business relationship.
   
   · Transparent Communication: Encourage open and honest communication. Let clients know their feedback is not just welcome, it’s essential.

The Courage to Act

The true measure of courage in client engagement is not just in asking for feedback, but in acting on it. It’s about making the necessary adjustments to ensure that we’re not only meeting but exceeding our clients’ expectations.

When clients provide suggestions and other feedback, be sure to follow up with them later to let them know if and how you were able to make adjustments.

Conclusion

Engaging deeply with clients, conducting value discussions, and checking expectations are the foundation of a successful financial advisory practice. It requires courage to seek the truth and the commitment to act on it. Remember, the strongest relationships are built on trust, transparency, and the continuous pursuit of excellence.

Don’t forget ALL of our resources – many of them free – are waiting for you at www.ReferralCoach.com/resources.

Start Multiplying Your Best Clients with The Cates Academy™

Learn Bill Cates’ Proven Process to Attract More of the Right Prospects

The Cates Academy for Relationship Marketing™ is a comprehensive online video-training program that will help you generate significantly more income in less time. Work smarter, not harder!

Get the details and join us:  www.CatesAcademyIndividuals.com