Go beyond the basics to reinforce your relationship
“Once you have retained a client for five years, you are likely to keep them for life”
Deepen your relationships so clients will want to stay
Holding on to existing clients is more cost-effective than finding new ones
Older, high net worth clients with a hybrid fee model are the most likely to stick with their advisors
Here are some steps you can take to evaluate your clients’ experience
Extra attention to discovery and goal setting boosts client retention
Most relationships could be saved by better communication
To retain assets, wealth management firms will have to offer more services to clients, regardless of age, gender or nationality
Don’t just let unhappy clients leave: find out what you can do to repair the relationship