By Ryan Jennings
(September 29 – 16:00 ET) – Retaining clients is an advisor’s goal and responsibility. And appeasing their needs is the only way to do it. But how are advisors suppose to know what each and every client expects? After all, everyone has different investment requirements and no two clients have identical needs.
The Canadian Investor in Transition survey offers insight into investor trends. It also delivers advice and tips that can help any advisor solidify relationships, get referrals and make their clients happy.
The project inspired Dan Richards, president of Toronto-based Marketing Solutions Inc., and one of the sponsors of the survey, to come up with 10 imperatives for success. According to Richards, following his hints will help advisors provide better service and get a larger piece of their client’s pie.
The survey examines issues such as expectations and how client’s investing habits intend to change over the next two years. Survey questions cover topics from financial plans to the Internet and dealing with client concerns.
“It’s never been more important for advisors to understand the investor mindset than it is today,” says Richards
10 imperative for success
- Bite the bullet on the size of your client base;
- Invest in deeper relationships with key clients;
- Manage client expectations on communication levels;
- Make the transition to a dual delivery system when it comes to E-mail and online communication;
- Put financial plans in place to lock in relationships and expand financial solutions;
- Get organized for the one-shop solution conversation for those clients open to it;
- Don’t overlook the offensive opportunity to pick up clients from discount brokers;
- Have candid conversations with clients on historical returns and the likelihood of downturns;
- Address the issue of volatility head on; and
- Begin NOW!!!
For more information, check out the Investor in Transition supplement in the October 2000 issue of Investment Executive.