The holidays: Getting it right

Marking the holidays in a way that resonates with your clients can be done, of course. All it takes is a little creativity and some serious thought about what’s important to you and your clients.

Richards knows of several financial advisors who have worked hard to ensure they give gifts that hit the mark every year. One advisor, for example, gives his top clients a unique and festive gift such as a centrepiece for the Christmas table. He hand-delivers the gifts, visiting three or four clients a night — a gesture that makes clients feel special and strengthens the client/advisor bond.

Another advisor, Richards says, has created a signature seasonal gift by giving his top clients a fresh wreath every year. The wreaths, he says, have become a sort of “secret handshake” within the advisor’s community, allowing clients to recognize each other without saying a word.

Examine your motives, says George Torok, a business coach and marketing specialist in Burlington, Ont., and ask yourself why you give gifts during the holidays: “Are you doing it simply because you want to be generous? Or is it a marketing move?”

If it is the latter, the key is to aim for something memorable. That is not an easy task at a time of the year when people are receiving plenty of presents, most of which are from people with whom they have deep personal relationships.

So, how can you stand out in toasting your valued clients with a memorable holiday gift? There is no single right way, but these ideas may guide you in the right direction:

> Personal is best

When it comes to client gifts, says Joanne Blake, a business etiquette consultant with Style for Success Inc. in Edmonton, personal touches are key. The old adage, “it’s the thought that counts,” should be the overriding principle for all client gifts, she says. The growing trend toward giving to charity in lieu of gifts, for instance, can be an effective way to acknowledge the concerns of individual clients. You can respect the diversity of your clients by choosing charities that tie into their personal charitable interests, such as education, poverty or health care.

Mark Ewert, a consultant with Investors Group Inc. in Grimsby, Ont., makes a charitable donation to Missionary Ventures, an organization he and his business partner, Janny Ralph, have supported for years.

Each year, Ewart or Ralph will make a trip to a developing country to help with a project through that organization. They tell clients about this work — and the donation the partners have made on their clients’ behalf — in an annual Christmas newsletter.

That’s not to say that store-bought gifts should be avoided. Blake’s partner, Terry Pithers, suggests giving an all-purpose gift basket with a personally selected item tucked in — such as a bottle of a favourite liqueur or a favourite movie DVD — can show the client that you are paying attention to him or her and that you care.

> Don’t overdo it

While client recognition during the holiday season can be satisfying, it’s important to avoid going overboard with pricey gifts, says George Hartman, president and CEO of Toronto-based Market Logics Inc. “If a gift is too lavish,” he says, “it becomes suspect.”

Big-ticket items can elicit an unintended negative reaction from clients, Hartman adds, especially in light of recent economic events. Some advisors have been quite generous at Christmas, he says, only to receive comments such as “I guess you really had a good year” and “I suppose I paid for this myself.”

The best gifts, Hartman says, are small but relatively indulgent: objects clients wouldn’t necessarily buy for themselves. An engraved letter opener or a small leather travel kit fall into this category. “They’re not necessarily practical,” he says, “but they’re useful. And the client will think of you every time they pick them up.”

Promotional items are not gifts, Blake warns. While the bottle opener or baseball cap sporting your corporate logo may be acceptable as an add-on to a personal present, it should not be considered the gift on its own, she says. Clients know these trinkets are marketing tools, and a holiday gift should not be overtly linked to marketing.

Logos don’t make clients feel special, Torok adds, and evoking that feeling is the point of a holiday gift.

 

> To give or not to give

Stephen Whipp, an advisor with Stephen Whipp Financial, which operates under the Manulife Securities Inc. banner in Victoria, tries to avoid the “consumer” side of the holidays because it goes against the socially responsible investing values he incorporates into his practice.

Whipp looks for gifts that will resonate in a genuine way but also are consistent with his overall business philosophy. Because he is a supporter of the “local food” movement, for example, he often chooses British Columbia — preferably, organic — wine as client gifts. Or, he and his team may give ornaments made locally with organic materials. Says Whipp: “The gift you give says a lot about you.”

Sometimes, not giving a gift says something about you, too. Betty-Anne Howard, an advisor who practises SRI with Making Dreams a Reality in Kingston, Ont., under Independent Planning Group Inc.’s banner, has stopped giving gifts during the Christmas season.

“I try to be mindful of practising what I preach,” she says. “From a consumerism point of view, I have stepped away from that approach.”

Ron Graham, an advisor with Ron Graham & Associates Ltd. in Edmonton, gives only a few modest gifts to certain centres of influence: “My feelings are that I do a good enough job providing advice that my clients will come back to see me, regardless of whether I send them a gift at Christmas.”

Emily Rae, an advisor with Assante Capital Management Ltd. in Halifax, forgoes holiday gifts in favour of marking client milestones, such as births and retirements, with gifts: “I think [holiday gifts] may get lost in the shuffle.”

Whipp agrees with that concept, saying his clients seem to appreciate the sentiment behind a more impromptu approach to gift-giving. Random acts of thoughtfulness can mean more to clients than an obligatory December gift. “If you have a practice where you’re buying 210 widgets — even if it’s wine,” he says, “it doesn’t say a whole lot about how much you appreciate those people as individuals.”

Giving something to clients outside the glow of the holiday season — when it’s least expected — can have more impact, Torok says.

Consider bypassing the December rush altogether, he adds, with a summer present, a Thanksgiving gift or a New Year’s memento. “You can be noticed using a nightlight,” he says, “if you shine it in the right place.”

> A memorable event

While holiday-time client appreciation events may not be as traditional as chestnuts roasting on an open fire, they are, at their best, a pleasant tradition for advisors and their clients. Like the iconic chestnuts, however, they are not for everyone.

The problem with hosting a client appreciation event in December, Richards says, is that this is precisely when clients’ social calendars are most likely to be crammed.

How exciting would it be, he asks, to receive yet another invitation to leave your warm home and venture outside, when there are plenty of other obligations and tasks vying for your attention? And many older clients are not particularly keen on travelling on an evening that may well be sprinkled with snow or freezing rain. Your function can become “just another in a long list of events,” Richards says.

Again, the key is to aim for something unique, either planning a standout event that will enhance your clients’ holiday spirits or scheduling a more traditional event during a slower period, when there’s less competition for your clients’ time.

Joe Riche, an advisor with Riche Investments in St. John’s, prefers the former strategy. “I like a family-oriented event for Christmas,” he says, “that gets people away from shopping.”

For several years running, Riche has rented an arena for a few hours to host a Christmas skating party for his clients. Last year, however, he decided to switch things up and relocate the event to a movie theatre. He invited all his clients — many of whom brought their kids and even neighbours’ kids — to watch the Christmas comedy Elf.

Riche plans to host a movie event this year, too. Family events make sense for Riche’s clients, he says, because many are professionals with young kids. Riche allows his eight-year-old daughter to choose the event. When he didn’t have a child, he says, he had arranged more adult events, such as a wine-and-cheese soirée with a string quartet.

Ewert, in addition to his charitable activities, also arranges a movie event for one morning early in December. Ewert and his team provide soft drinks and snacks for the children and Tim Hortons coffee for the adults. The team asks only that attendees bring non-perishable food donations for the local food bank.

“It’s been one of the most popular events,” Ewert says, adding that the 1,000 tickets are snatched up in short order.

Whipp ties his office’s holiday event into his SRI approach by hosting a low-key affair that includes offering fair-trade coffee, local wines and baked goods from a local bakery that promotes organic fare. “It’s basically a drop-in,” he says, adding that he also invites local businesses to offer shopping discounts to his clients.

Whether your event will be welcomed by clients or viewed as an obligation, Richards says, depends on your region and the lifestyles of your clients. The situation will usually become crystal clear when you attempt your first holiday event.

Marc Lamontagne, an advisor and principal with Ryan Lamontagne Inc. in Ottawa, hosts an annual client appreciation brunch that has sold out every year — except for the one year his team had attempted to schedule it around Christmas.

“Registration was so poor that we postponed it to the spring,” Lamontagne says. “Clients said they had too many other thing going on.”

Blake says hosting an off-season event — perhaps in January to mark the beginning of a successful year — is one way to work around the busy holiday season. Another good idea, she says, is to ask clients what they’d prefer: a holiday event or something pushed into January.

If it turns out that there’s enough interest in both, she recommends accommodating different interests at each event — for example, something for the arts crowd at one and something more mainstream at the other.

Pithers points out that having an off-season event not only helps clients decompress after the more hectic holidays, it also can make for more effortless planning: “It’s easier to rent a place in January.”

> Pick a card

There are seemingly endless options when it comes to holiday greeting cards. And whether you go traditional or contemporary is up to you. Still, there are many other issues to consider.

When it comes to the question of email vs “snail” mail, there is no consensus. Hartman, for example, says email greeting cards should be avoided: “It’s just saying you didn’t care enough.”

Pithers acknowledges that e-cards may have less of an impact than a piece of mail that clients actually handle. “It doesn’t sit on people’s desks,” he says. “It doesn’t’ have the lasting power of a written card or note.”

But if you simply don’t have time to purchase, address and mail paper cards to all your clients, Pithers says, e-cards are better than nothing.

Whipp, in keeping with his SRI and environmentalist ideals, sends greetings to clients by email to save on paper. For those few clients who don’t have email, he prints a greeting on one of his recycled printers, which use wax instead of toner.

As for the signature on the paper card sent to clients, a corporate stamp may seem impersonal. But it can be acceptable, Pithers says, if you include a personal line or two. And if the card is enclosed with a present, the note should mention something about the gift.

Rae, for her part, includes a newsletter with her holiday cards. This is the time of the year, she says, when it’s appropriate to be a little more personal with her news.

Having everyone in the office with whom the client has had contact sign the card, Blake says, adds a personal touch.

If you do opt for a paper greeting, Hartman says, don’t go cheap: “Spend a few bucks on a nice card.” IE