Client Review Resources for Advisors

Additional resources for your conversations with clients:

Client conversation centre Managing through market volatility

The 3 P's of effective reviews

There are three key ingredients to effective client reviews: Perspective, Process and Poise.

Perspective

Help clients gain perspective on world news, market headlines, and the value of working with an advisor.

Source: https://www.thebalancemoney.com/u-s-stock-bear-markets-and-their-subsequent-recoveries-2388520

Read transcript of audio recording.

Process

Walk your client through your client-centered wealth management process, their plan and portfolios.

Poise

Be intentional about the words you use, and remember to authentically ask, listen and empathize throughout your meeting.

Preparing for the review

Any good review—especially during volatile markets—requires advance preparation. Gather and reflect on the following to help your review go smoothly.

Gain perspective

World events

Market Developments

Managing through market volatility
Russell Investments Blog
Client-ready resources:
- Economic and Market Review (PDF)
- Economic Indicators Dashboard
- Market Week in Review

The value of your relationship

Value of an advisor
- Value of an advisor blog posts:
- Podcast resources:
  - Financial advisory podcast - Value of your Advice
  - Client-ready podcast - Combatting Investor Biases

Articulate your process

Prepare your talk track

Review the key tenets of excellent client discovery
Listen to sample talk track to walk a client through the roller coaster of emotions and identify where they currently plot on the cycle

Challenging Conversations Guide

Download E-Book

Review goals

Implementing a defined framework for discovery into your wealth management process provides a distinct opportunity to build deeper relationships with your clients. Be sure to review clients’ goals, circumstances and preferences, and financial plan at each meeting.

A new approach to discovery

Download Discovery one-pager

Talk to Russell Investments about our unique discovery process

Review portfolios

Review portfolios and alignment with client's plan. Reflect on what's working and what isn't. Do you need to consider any changes?

Interactive tools
Be prepared to protect the plan

Also: Please contact your dedicated Regional Team for a copy of the Client Engagement Roadmap Guide.

Practice poise

Review our best practices

Review 8 key reminders on client communication best practices

Determine meeting format

Consider whether the meeting will take place virtually or in person. If virtual, have a team member reach out to the client the day before the meeting to offer a technology dry-run.

Review our best practices on how to use technology effectively

Prepare an agenda

Prepare a Proposed Meeting Agenda

Send the agenda

Send the agenda to your client at least 3 business days before the meeting. Include written instructions on how the client can access the virtual meeting technology

Conducting the review

You’re prepared! Be confident and remember to authentically ask, listen and empathize throughout the meeting.

Chat

Take time for personal conversation and adopt friendly client language.

Assess emotions

Gauge the client's emotional state.

Wave of emotions

Explore our interactive Cycle of Investor Emotions resource

Download Cycle of Investor Emotions one-pager

Review the agenda

Walk the client through the meeting agenda. Make adjustments based on client's feedback and emotional state.

Perspective. Share your perspective on the current world events, market developments and the value of a relationship with a trusted advisor like you.
Priorities. Walk your client through a re-discovery process.
Process. Review the client's plan, tying it to their priorities and the re-discovery discussion you just had. Articulate and review product alignment and recommendation: Stay the course or make changes.

Articulate next steps

Schedule the next meeting. For top clients, consider introducing a Client Engagement Roadmap. (Please contact your dedicated Regional team for access to the Client Engagement Roadmap Guide.)

Make yourself available

Offer to talk to your client's concerned family members and friends.

After the review

You have finished the actual review meeting—but there are some important follow-up items to complete to ensure a good experience.

Follow up email

Within 48 hours, send a follow-up email summarizing next action steps. Consider also including:

Link to latest Investor Newsletter
Links to client-approved market perspective podcasts and videos
For top clients, consider also creating a custom Engagement Roadmap to help the client visualize the trajectory of their relationship with you and execution of their priorities (Please contact your dedicated Regional team for access to the Client Engagement Roadmap Guide)

Implement the next steps

Communicate

Keep client informed as next steps are completed