Follow-Up or Lose Out Volume 2: Clients
We don’t all charge the same way, but if I don’t have direct contact with my clients, I don’t get paid. For some of you, this may not be the case, but not talking with clients regularly (or at least trying to) is an easy way to lose those AUM dollars.
For years, I didn’t send an annual offer to past clients offering a review because I didn’t want to bother them or seem like I was pushing for more planning fees. Guess what? Clients didn’t feel unbothered. They felt neglected.
And, I was leaving easy business revenue on the table.
Herewith, is an easy way to stay in meaningful touch with clients who may not be so proactive in reaching out to you.
The one-year note
After each appointment, I put a Task in my CRM to remind me to send an email to offer an annual review. Do they all respond? Hardly. But, at least they knew I cared enough to send the message.
And eventually, when their life has changed enough, they will know that you are still their go-to expert for advice and help. Plus, for you AUM-ers out there, the annual review is a fantastic way to find out about:
Job promotions or career changes
Inheritance coming in
New stock options or bonuses clients need help investing
Big mistakes your clients may be about to make without consulting you first.
Again, to make this quick, here is the process:
Create an Annual Review Offer email template.
Include a short sentence about YOUR life and what you’ve been up to. Personalize it a bit.
Mention the topics you discussed in the last meeting.
Ask for a reply email to get the process started for their review.
Include as attachments your latest ADV II and Privacy Policy. It’s a two-for-one! Compliance is happy and you are building rapport.
After you send the Annual Offer email, go into your tasks for that client and put a reminder out for one year from today. That way your reminder list stays fresh.
You already know this, but maybe you just needed a reminder or process to make the one-year follow-ups easier.
