A meeting flow plan is an effective tool to help financial advisors stay on track during client conversations, says Sara Gilbert, founder of Strategist Business Development in Montreal. It outlines the various points that should be covered during a client meeting.

A client’s agenda covers the “hard” business issues that must be covered in a meeting. A meeting flow plan, on the other hand, combines those necessary business topics with the softer, relationship-building aspects of the conversation.

Here are the seven major steps contained in a meeting flow plan:

1. Ask relationship-building questions
“The soft side of our business is very important,” Gilbert says. “And those little questions on how the family is doing make the client more comfortable and show that you care.”

One of the questions can be as simple as “What have you been doing lately?” Ask for updates on your client’s children or parents.

2. Ask about any changes in your clients’ lives
These changes could be recent events or occasions the client is anticipating. Examples can include major purchases, such as a home, sudden inheritances or a new addition to the family.

This stage of questioning serves as a bridge from the softer questions to issues that can affect your clients’ finances.

3. Review clients’ goals and objectives
“The portfolio review will [involve] crunching numbers,” Gilbert says. “But at the end of the day, what the client wants to know is: ‘Am I on track?'”

Your role is to relate the technical aspects of developments in your client’s portfolio to his or her concerns. Clients want to know things like whether they will be able to retire on time, whether they will be able to afford to send their children to university school and whether they will leave a sizeable estate.

4. Introduce a new topic
Be proactive and present something new. Maybe you have added to your range of services or you want to revisit previous discussions on topics such as retirement or estate planning.

Another option is to gather information from your client. For example, you might ask which accountants or lawyers your client uses. You can ask permission to contact these professionals in order to work cooperatively on his or her account.

Your clients will recognize that you are providing that extra level of service. And there is potential for you to develop relationships with new centres of influence.

5. Ask if the client has any questions
Your client will have been encouraged, through the agenda he or she received beforehand, to come to the meeting with questions.

You can also ask whether everything you discussed is clear to the client.

6. Provide a recap
Condense your conversation into two minutes by going over key points, Gilbert says: “It shows you listened.”

Also, outline your next steps and what will be expected of the client. Perhaps he or she needs to send you documentation or call their lawyer or accountant for information you need.

7. Say “thank you”
Walk your clients out of your office and thank them for their time. If you have an event or some other project you are working on, refer to it now.

Discussing a client event in person is more effective than their finding out through an email, Gilbert says.

For more see: Creating value by planning client meetings