Is your practice client-friendly? Are your clients made to feel welcome and valued from the moment they enter your office? Do they get your full attention during meetings and phone conversations? Do you respond promptly to their phone messages and emails?
The answers to these questions can make the difference between success and failure in the intensely competitive world of financial services.
“A financial advisor’s goal is to have client relationships that are built on trust,” says Rosemary Smyth, president of Rosemary Smyth & Associates, who coaches advisors and managers. “That begins with building rapport. Once clients feel comfortable and appreciated, they’re far more likely to open up to you and trust you to manage their money.”
Small details play an important role in creating a positive client experience. “People remember the kind of greeting they get when they visit your office,” Smyth says. “Showing that you care about small things signals that you care about bigger things as well.”
Here are some steps you can take to make your practice more client-friendly:
> Make a good first impression
Getting off on the right foot with your clients starts with the people who answer your office phone and greet visitors on arrival. Are they polite, friendly and professional?
Do these team members take the client’s coat and offer tea, coffee or water? Those actions set the tone for what your clients can expect from you: a positive experience characterized by good service.
> Be a good listener
Good listening skills help you to understand your clients’ goals and what they hope to achieve. Ultimately, being a good listener will improve the level of service you provide and help you foster client loyalty.
Says Smyth: “You can be an active listener by listening carefully and asking open-ended, clarifying questions.”
When a client is talk to you, remember to: let the client finish his or her sentences;
resist distractions; remain calm; be non-judgmental.
“Keep an open mind,” Smyth says, “so you can hear your client’s point of view without prejudging what he or she is saying. Your body language says a lot about how good a listener you are, so look at the other person and pay attention to the messages you’re giving out.”
> Customize the client experience
It’s important to give clients what they want, says Smyth. If your client is new to the investment industry, he or she may want easy-to-understand information such as a simple graph that answers their concerns.
“Clients don’t want information overload,” Smyth says. “They just want you to use your knowledge to solve their problem or tell them what they need to know.”
Adjust presentations to ensure you’re meeting your client’s needs, Smyth says. Don’t overwhelm them with a binder of information when they ask for something as simple a portfolio return percentage.
Also, be aware of the type of learner the client is. For example, visual learners like seeing the information; auditory learners prefer you to just tell them about it.
> Make your client feel important
Give each client your undivided attention. Show that you appreciate their business by greeting them in the reception area and personally escorting them to your office or meeting room.
Ask the receptionist to hold all calls while you’re with a client — it shows how important the client is to you.
Return client calls and emails as soon as possible, and if you can’t, have someone call to arrange a phone appointment.