Kevin Cork, a certified financial planner with the Absolute Group in Calgary, was having a meeting with a client at his office when the client snagged her nylon stockings. She left sporting a gaping hole in one stocking. Cork immediately obtained a new pair and sent them off to the client’s home, with a note taking responsibility for the damage.

Cost: less than $10. Relationship value: priceless.

“A few years ago, I downsized my client base so I could give my clients more personal attention,” says Cork. “I realized I wanted to provide all my clients with top service and a unique client experience.

“Clients may not have the basis of comparison to gauge your financial planning skills relative to other professionals, but they’ll know if the relationship is a good or bad experience,” he adds. “I like to show my appreciation in highly individualized ways. It helps to build a fence around the client.”

That, advisors agree, is the key to successful client appreciation, be it sending cards to celebrate milestones or staging events — that is, keeping it personal. You want to let your clients know they are valued and further cement the bond of loyalty, but you don’t want them to feel simply like another cog in the machine. The key to getting mileage from whatever you do is to customize and personalize it.

This makes knowing your client as important when it comes to client appreciation as it is when picking investments, maintains Dan Richards, president of Toronto-based consulting firm Strategic Imperatives Ltd. Knowing your clients’ activities can lead to applicable ideas for gifts, he says, whether it’s a fishing lure, gardening gloves and hand cream, an expensive pen and personalized note cards, or a cooking lesson with a top chef. “There’s a limitless number of things you can do,” he says. “Creativity makes an impression.”

But if it’s essential to know your clients’ likes and dislikes, it is also essential you gather and track that client information. In fact, when you’re filling out the Know Your Client form at the onset of the relationship, that’s a good time to ask the client about other details such as birthdays, hobbies and interests, or what he or she does on vacation.

“Advisors need good organizational systems and contact management software, as it’s impossible to keep all of this information in your head,” says Keith Thomson, a partner and financial planner at Toronto-based Stonegate Private Counsel LP. “I’m always looking for those details that allow me to show my interest in the client goes beyond money.”

Thomson has developed his own comprehensive questionnaire covering such diverse topics as wedding anniversary dates, children’s birthdays, collections, hobbies and favourite vacations, authors, wines and sports (both to watch and to participate in). In addition, every time a personality revelation comes up in future conversations, he notes the tidbit and files it with his client information.

“If clients ask why I need to know so much information, I tell them I want to get to know them better, and that sometimes we like to celebrate by hosting client events and I want to be sure the events are appropriate,” Thomson says. “They may think I’m anal retentive in my attention to detail, but I find people enjoy talking about themselves.”



> Milestone

Perhaps the easiest way to remember a client is by sending a card on a birthday, anniversary or special occasion, or by marking a personal milestone with a small gift or gift certificate. But even then, say experts, keep it personal: this kind of gesture can be perceived as insincere if it doesn’t suit the type of relationship you have with the client.

“Every month, I check which clients have birthdays coming up. Some I will call, while for others I will send an e-mail or card,” says Bev Moir, senior investment executive at ScotiaMcLeod Inc. in Toronto. “If it’s a client with whom I have a relaxed relationship, I usually just send off a quick and friendly e-mail. And I don’t necessarily contact them all; I try to pick those who would appreciate it or for whom I have a special message.”

Sandra Foster, president of Toronto-based Headspring Consulting Inc. , also likes the idea of picking up the phone and calling first thing in the morning, with a quick “Hi, George, just wanted to be one of the first to wish you a happy birthday.”

@page_break@Others recognize the Christmas season with cards and gifts. Barnaby Ross, vice president at RBC Dominion Securities Inc. in Toronto, likes to stand out with an original card. For example, he once had his picture taken in close proximity to a large and aggressive-looking bull at Toronto’s Royal Winter Fair to use as the cover for that season’s card, signifying his optimism for the stock market in the coming year. He also likes to send a “Happy Spring” card to clients, which is delivered at a time of year when the card is not going to get lost in a pile of other greetings.

In the same vein, Clay Gillespie, vice president at Rogers Group Financial Advisors Ltd. in Vancouver, sends a Thanksgiving card, produced every year with a different photograph of Vancouver taken by a Rogers Group staff member. And a personal note from Gillespie always accompanies the cards.

Cork’s biggest milestone marker is what he calls a “millionaire’s night.” When a client’s assets hit the $1-million mark, Cork sends the client and his or her spouse out on a night on the town. They are picked up by limousine and taken to a fancy restaurant for dinner, followed by a sports or cultural event of the client’s choosing.

“Most new millionaires don’t feel like millionaires, as they’ve worked hard to get there and tend not to be extravagant,” Cork says. “We try to make the night out a real treat for them from beginning to end, starting with a good bottle of wine delivered ahead of time to their homes.”

Cork also finds ways to celebrate other milestones, such as paying off a mortgage. For one client, he staged a ceremony in which the mortgage document was actually set on fire.



> Gifts

Some advisors keep track of when their clients sign on with them, and send a gift on key anniversaries such as five or 10 years. The occasional unexpected gift certificate, even for something small such as a book or a restaurant breakfast, can be a nice surprise for clients. Remembering wedding anniversaries with a card or flowers is also a nice gesture, particularly if you do it the day before the occasion and inadvertently jog people’s memories.

But, again, the goal is to send something that is appropriate for the occasion and to your relationship with the client. Cork, for example, once recognized the new life of a retiring client — who had said she just wanted to sit and read for six months — by sending her a package with six novels, bath products and candles.

Richards says even a simple gift can be personalized by a warm accompanying note. For example, if you know your client likes red wine, pick up a top-of-the-line Amarone and send it along with a note saying you thought of them the last time you sampled this wine and wanted them to share the pleasure. Or if they like Indian cuisine, send them a gift certificate to a good Indian restaurant, along with a note saying you know how much they enjoy spicing up their life with spicy food.

But Richards issues a word of warning about gift-giving. “Some people do certain things every year and it becomes their signature,” he says. “For example, they may send clients big poinsettias for the holiday season. The drawback is that you can become committed to this kind of gesture, and once it’s expected, it loses its impact. You may be better off sending a wreath for the door the next year, and a centrepiece for the table the year after.”



> Events

Although the nylon stockings were a low-cost item, Cork has staged a variety of expensive events over the years to show his appreciation for having his clients’ business. He started out with large get-togethers or group events, the most recent being a party held in a private room of a local hotel, complete with string quartet and melted chocolate fondue.

“Over time, I found that the big events were attracting the bottom half of my client base, and that smaller, more intimate events were more appealing to my best clients,” he says. “It’s hard to get the top clients out for free drinks and canapés.”

Now Cork focuses on smaller events and aims to offer something out of the ordinary. For example, when former U.S. president Bill Clinton came to Calgary for a speaking engagement a couple of years ago, Cork bought a table and invited key clients and their significant others. He also holds a dinner-and-theatre evening a few times a year and invites the director of the play or a couple of the actors to attend the dinner, as well. His wife is an actor and he is on the board of the Ground Zero Theatre in Calgary, so it gives him a bit of an “in” in the theatre community. His connections also gave him the opportunity once to invite his senior clients to be extras for a crowd scene in a film, an experience that was a bit of thrill for those who participated.

“Theatre people respond well to the idea of mixing with my clients. They sit in the middle of the table and converse with everyone,” he says of his dinner-and-theatre nights. “And my clients are fascinated to get a behind-the-scenes view of what happens on stage.”

Theatre has also had appeal for advi-sor Tina Tehranchian. The certified financial planner and branch manager at Assante Capital Management Ltd. in Richmond Hill, Ont., has taken a group of women clients to see the musical comedy Menopause Out Loud, and another group to the McMichael Canadian Art Collection in nearby Kleinburg. Both outings included a meal at a top restaurant.

Although big events are less personal, if done right they can also be an enjoyable experience for clients and, therefore, an effective way to tell them their business is valued. Stonegate’s Thomson holds an annual dinner every November at the plush Donalda Golf Club in Toronto, complete with roaring fire and full-course buffet dinner.

But he also hosts smaller events. If he notices that some clients share a common interest, he may hold an appropriate event. For example, he once invited all his gardening clients to a seminar with well-known gardening expert Mark Cullen, whose family has been in the nursery business for three generations.

Bryan Snelson, an advisor with Raymond James Ltd. in Mississauga, Ont., recently invited 130 clients to a party at his office, at which he had food stations and a wine expert serving a variety of wines. His guests were entertained by a trio of well-known Canadian jazz musicians. Snelson does a regular market commentary on a Toronto jazz radio station, which has led to connections in the jazz community and has also brought him many clients who are listeners to the station.

“Clients don’t come to you just because of the name on your business card,” Snelson says. “They also want to establish a personal bond of trust and respect, and appreciation events deepen those bonds. Food, wine and music are my passions, and it’s great to share them with my clients.”

Bradley Roulston, a CFP with Roulston Financial, which has offices in Toronto and Vancouver, likes to organize unusual events, and he has had success with a croquet day, volleyball tournaments and art shows, as well as singles parties for his many unattached clients. His parties typically include a diversion to get people interacting, such as a fortune teller, and his singles events were so successful that he organized 13 of them during a five-year period. Other suggestions tried by some advisors include a nature hike with a naturalist guide, a boat cruise and murder mystery nights.

A day out with a handful of like-minded clients can be a memorable treat, says Michelle Butt, director of Stouffville, Ont.-based event planner the Human Experience, as well as a means of cultivating closer bonds with smaller groups. She also suggests a spa day for a group of women, which can be arranged by going to a spa or having the manicure and massage experts come to an appropriate location. A golf day with a pro may be attractive to avid golfers, and involve simply putting together a foursome at a fancy club.

For a large client event, she suggests the idea of a Come As You’ll Be When You Retire party. “If clients are going to retire in Hawaii, they can come in their Hawaiian shirts,” Butt says. “It’s a good way to have some fun and, at the same time, subtly remind clients of what the advisor does for them financially.”



> One On One

Sometimes, for advisors and clients, a little one-on-one time is the best way to say, “Thank you.” Mary Chan, general partner and principal at Edward Jones in Mississauga, always made a point of taking widowed clients out for lunch on Valentine’s Day. Stonegate’s Thomson and his wife regularly take clients out to dinner one couple at a time — to one of the client couple’s favourite restaurants — which leads to deeper conversations and a better idea of client interests.

“Client marketing is always part of the job, and showing appreciation is part of that,” says Headspring’s Foster. “One drawback of regular annual events is that they may become expected, and you may not be able to afford to do them every year. In addition, a lot of high net-worth clients don’t have the time or interest to go to something group-oriented. Don’t forget that small things can also go a long way in expressing appreciation.” IE