After making the transition to a new firm, it can take six months to one year to get your book back up to its previous level, says Sara Gilbert, founder of Strategist Business Development in Montreal. Rebuilding your client base is key to ensuring your practice remains profitable and you continue to succeed in your new environment.
From a legal standpoint, your previous clients belong to your former firm. However, Gilbert says, there are steps you can take to help rekindle those relationships without breaking any rules.
> Connect over social media
Many of your professional clients will have a LinkedIn account. So, if you’re not already connected, add previous clients to your network.
“Prepare communication that states the benefits of the firm you have joined,” Gilbert says. Explain why you made the transition and elaborate on the opportunities the move has afforded your business. This is a chance to explain the value of your new firm to all of your connections, including previous clients.
> Create an ad for your target audience
Select a regional newspaper or publication that your previous clients would read, and place an advertisement outlining the services you’re offering at your new firm, Gilbert says. For example, if your previous clients are primarily entrepreneurs, advertise in a publication that caters to that group.
Advertising requires a big budget, Gilbert says, but a transition presents an opportunity to highlight your services and provide your new contact details. “It’s actually surprising the number of responses [my clients] get after doing these types of advertisements,” Gilbert says.
> Make your contact information accessible
When you leave your former firm, it’s common practice for a new advisor from that firm to contact your clients in an effort to retain their business. As a result, Gilbert says, many clients will likely Google your name to see where you have relocated.
To ensure those clients can find you, make sure your web presence is visible by creating a Google business listing and an updated website. If you have purchased a print advertisement, Gilbert says, buy an additional online advertisement with that publication to help with your Google ranking. Also, be sure to update your social media profile as soon as possible, she adds.
> Don’t badmouth your previous firm
Maintain your integrity by refraining from speaking negatively about your previous firm. Keep a professional attitude and avoid controversy to maintain the trust of your clients.
“Keep focused on the positive,” Gilbert says, “and really showcase what the benefits are for your clients in that new firm you have selected.”