Adviser Initiates Communication

Only the Client Initiates conversation is a Driver of Elevation Goal 3: Safeguarding clients’ best interests, mitigating risk

Data based on responses to the following question, asked in the Verified Client review form

“Who normally initiates communication between you and [adviser]?”

Possible responses
  1. Only me
  2. Normally me, sometimes the adviser
  3. Roughly 50/50 between me and the adviser
  4. Normally the adviser, sometimes me
  5. Only the adviser

Adviser Initiates Conversation Score

Proportion of respondents answering 

  • Normally me, sometimes the adviser 
  • Roughly 50/50 between me and the adviser
  • Normally the adviser, sometimes me
  • Only the adviser

Distribution of responses to Adviser Initiates Conversation

Why do we ask about Adviser Initiates Conversation Score?

Only the client initiating conversation can indicate a lack of proactivity on the adviser’s part. This should be viewed in combination with other data points relating to the client and the adviser to form a holistic view of the potential for risk. 

How to improve your score:

Regular touch points
Checking in. Give clients a call with no agenda other than to see if they’re OK and if they need anything or have any questions. This makes you more accessible and promotes advocacy as your client feels you really care about their well being.

Celebrate key events. Make a note in your CRM or a reminder in your calendar to help you remember key events. Schedule greeting cards for birthdays, Christmas, or milestones like retirement. Whilst it can be seen as a bit cheesy, people do value small things like greeting cards as it shows you’ve remembered what’s important to them.

Events. You may want to invite your clients to an event. This could be a wine tasting, VIP entry to a cultural event, a box at a show or a talk from a fund manager. Some advisers gain massive advocacy by making their clients feel special from inviting them to such events.

Newsletters. Consider sending out a regular newsletter. You can either write your own or buy one in from a third party. There are several financial services marketing companies who provide and distribute pre-prepared newsletters for a small fee. Newsletters could be on financial or property market updates, educational on a specific topic or just to let them know what’s going on at your firm.

Make it relevant. Don’t spam clients with irrelevant information. Too many or irrelevant communications are annoying and likely to turn clients off. Keep the information relevant and interesting, and the frequency appropriate for your average/target client.

Follow up from all meetings with a communication (client portal, email or letter) outlining the key concepts and agreed actions. This re-enforces what has been said in the meeting and is a sign to your client you care that they understand.
Ask for feedback
Ask for feedback from your clients on the frequency and content of communications. This is useful for three reasons:
1) You’re giving your client the opportunity to contact you, so if they have an issue, this is the perfect excuse for them to get in touch.
2) You’re also providing an opportunity for your client to tell you that they’ve not read, or even received, your communication.
3) If they have read your communication, you can then use their feedback to adjust future communications to make them more engaging, timelier and improve readability.

Be proactive in your communication with your client, so that they feel valued in your relationship. A call doesn’t need to have a business reason behind it – just saying “hi” can make a huge difference and give your client the chance to tell you about changes in their circumstances. It also makes them feel more at ease contacting you on an ongoing basis to discuss any changes in their circumstances.

Through regular communication and a strong relationship with your client, you can ensure you remain up to date with their affairs to best mitigate against potential risk or changes to a client's needs.

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