Clients are the heartbeat of your business; they provide those essential opportunities you can take to the next level with your expertise. Developing and maintaining healthy client relationships should remain a top priority, whether you’re brand new to the business or a seasoned professional. The stronger your relationship, the better equipped you are to handle everything from hard conversations to exciting explorations.
Three How-tos for Client Relationships
At Concorde, we want our financial professionals to focus on doing what they do best—supporting their clients. We say that we look at our team as entrepreneurs serving entrepreneurs. To get your client connections right, we recommend you start with a few how-tos from our team:
1. How to Get Clients as a Financial Advisor
If clients are the foundation of your business, building your network is the best place to start. But just like any good initiative, preparation begins long before the conversation. A personal brand and marketing strategy is critical to attracting clients who will be interested in your specific expertise. Your marketing plan doesn’t have to be complicated—but it must be consistent.
Start by outlining how you want to build your business. Think about what areas of expertise you want to specialize in, where you may want to expand in the future, etc. Use that vision to craft the messaging you wish to share externally, and find unique ways to spread the word on multiple platforms. For the digital-focused professional, consider using social networks, a blog, or online webinars to reach an audience. If you’re better in person, why not take your message to networking events or business think-tanks? No matter how you do it, ensure you advertise your skills with authenticity.
2. How To Establish Long-Term Client Relationships
If you want your client relationships to last, they must be built on one core principle: trust. It’s no secret that financial conversations can be stressful or even uncomfortable. Some days, your client will see and celebrate success. On other days, they may worry about the constantly-evolving market and their current investments. But when your relationship is built on trust, you can easily navigate these ebbs and flows of this industry. Clients who trust their advisor may also become more likely to refer your services to other potential clients.
How do you go about building that trust? Though each relationship may differ from the next, these three practices should remain the same:
- Establish clear expectations: if your client doesn’t know what to expect, you may not meet their standards. Instead of leaving it up to chance, help your client understand your role and how you will support them early on.
- Facilitate clear and consistent communication: take your client along for the ride. Bring them into critical conversations, and ensure they fully understand your approach before proceeding.
- Listen first, respond second: your client’s needs, worries, or hopes are often buried in small conversations. Ask meaningful questions and carefully listen to and validate your client’s response. You never know what you might learn from a quick call.
3. How Concorde Supports Your Clients
At Concorde, we know that a firm can play a significant role in an individual’s success. Part of that role includes providing resources that benefit each employee’s clientele. We approach this philosophy from two directions:
- Automating the advisor experience: it’s easy to get caught up in the day-to-day manual labor of financial management. To help alleviate some of that work, Concorde has built a robust tech stack to automate these tasks. With Concorde Investment Services, Concorde Asset Management, and Concorde Insurance Agency, you’ll be able to spend more time collaborating with your client.
- Developing client-focused content: Concorde’s Client Hub is full of resources that your client can tap into for additional financial education. Our resources and education materials can be used to facilitate conversations as you work with new clients.
Armed with the support of your firm, a strong marketing strategy, and a communication plan, you can start expanding your client foundation that drives your business.
Continue the Conversation: Our Client Ebook
Ready to learn more about managing successful client relationships? Download our free book, After Further Review, from our resource library. This tool will discuss how to conduct client discussions, ask meaningful questions, or plan a typical client review meeting. And if you’re interested in learning more about Concorde, reach out to our team today.
This is for informational purposes only. Securities offered through Concorde Investment Services, LLC, member FINRA/SIPC. Advisory services offered through Concorde Asset Management, LLC, an SEC-registered investment advisor. Insurance offered through Concorde Insurance Agency, Inc.