Our report on the frequency at which advisers should review their client’s needs, goals, and risks is not just the basis of this week’s poll question – it is also the RiskinfoNZ Story of the Week…
Industry training firm Strategi has listed some of the steps advisers could follow to ensure their clients’ needs are kept to the fore when it comes to maintaining long-term relationships.
In a post on its site, Strategi says that while there is nothing requiring FAPs to have annual meetings with clients, FAPs need to ensure the products or services put in place remain suitable to their needs and goals.
“In practical terms this means clients with complex needs are likely to require more frequent reviews than your annual ‘set and forget’ clients,” says the firm.
Strategi suggests the following:
- Be clear with clients about their obligations to keep you updated so you can kickstart a review if needed.
- Unless the client suggests otherwise, hold virtual client meetings rather than face to face meetings.
- Running an organised review based on a set list of key touch-points means you can focus on your client.
- Is your follow up communication clear, concise and engaging? Does it build trust in your company and will the client read it and take action on any recommendations you have made?
Do you agree that you should offer your clients a personal consultation at least once a year?
- Yes (68%)
- No (26%)
- Not sure (7%)
Loading ...Read Strategi’s full post here.