Your success as an advisor relies heavily on your ability to establish and nurture strong relationships with your clients because they are the most important and valuable asset of your practice.
At some point everyone has to stop working. For many, retirement is a time of anticipation and excitement – after devoting many years towards building a business it can be a time to kick back and enjoy the fruits of your efforts.
Ageing comes with its fair share of pitfalls. The body doesn’t always do what it once could, but the memory may also be starting to fade. This may take slight forms of memory loss, but increasingly, for many Australians, it’s manifesting in the form of dementia – a disease that now affects 1 in 10 Australians over the age of 65, with a trend that is increasing.
It goes without saying that every parent wants the best education for their children. Increasingly, however, this may come at a price.
You should make the effort to collect client feedback on a regular basis if you’re serious about managing your clients as your most important and valuable asset. Yes, this could include an ad hoc discussion while you’re meeting with your clients, but ideally should include a more formal request for structured feedback about key outcomes that are critical to the future of your client relationships and your business. Here I mean the need to understand whether your customers:
In a survey of 3,600 consumers in the U.S. and Canada, 79% said they trusted online reviews as much as personal recommendations from family and friends. It would be entirely reasonable to assume that the same sentiment exists in Australia as well.
All of your clients will depart this mortal coil at some point in time, others will divorce or separate and still others will relocate to a new country, state, city or town. Some may even leave you because they don’t think you’re doing a good enough job or you charge too much or they feel unloved.
Since the introduction of FOFA, there has rightly been increased interest in being able to convince clients about the value delivered in return for the fees and charges they pay for advice.
Assuming you want to grow your practice, have you recently given serious thought to your growth options and what they are?