You have been working with a client, “Bob,” for a few years – but you haven’t spoken to him in a couple of months. In that time, you’ve been evaluating new strategies that would help him reach his financial goals. It’s come time to pick up the phone and turn your research into a pitch.

By doing your homework, you’ve already gotten off to a good start. But how, exactly, do you make your case to Bob in that follow-up call?

Strategy matters, says Joanne Ferguson, president of Advisor Pathways Inc. in Toronto.
Similar to the way a baseball pitcher might be told by a coach to “picture throwing strikes,” you should be able to imagine how your follow-up call should proceed.

Ferguson breaks down the anatomy of the follow-up call into a four-point game plan:

1. A quality start
In baseball, the starting pitcher’s goal is to set the tone and put the team in a good position to win the game. The same holds true for you.

You might have a formal script to guide you into the call. Or you might choose to rely on your in-depth understanding of what changes to Bob’s portfolio you want to recommend,

Either way, getting your call off to a strong start hinges on your knowledge of your client and his communication style. For example, does Bob respond to emotion or is he more rational and fact-based? Your answer to that question will guide your approach.

2. Middle relief
Once you have made your initial case with your opening pitch, you can move to the middle ground of the discussion.

Think of this stage as a bridge between your start and your close — your sixth or seventh inning. Now is the time to meet your client halfway and get his feedback on what he thinks of your proposal.

A specific question you should consider here is: does the client like what I’ve suggested?

At this point it is important to listen carefully for the answer, Ferguson says.

3. The setup
You are now in the eighth inning of your follow-up call with Bob. At this stage you are looking to integrate his feedback into your recommendation.

This stage is important because it helps assure your client that he has been engaged in the decision-making process and that he understands the reasons behind your recommendations.

Here, Ferguson says, the direct approach can work well. She recommends asking your client, “is there anything we can improve upon?”

This question will help you determine whether you are ready to bring in your “closer,” or whether you need to go back to the bullpen and budget for extra innings.

4. The closer
As important as a quality start is a good close that neatly wraps things up. At this point, you should review all that was discussed and rehash all the details or changes that were considered or made.

You should also see the close as a way to prepare for future interactions. For example, ask Bob whether he anticipates anything over the next few months that might have an impact on his finances. Perhaps he is thinking about a special summer purchase of a boat.

It’s important to ask, Ferguson says, because it sets the stage for future meetings.

“You should always be looking at the next step in the process,” she says.

And remember: if things don’t go exactly as planned, don’t worry. There’s no crying in baseball.

This is the second instalment in a two-part series on follow-up calls.