Effective client reviews
Conducting effective client reviews is especially important during periods of market uncertainty.
Let this be your roadmap.
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.
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
Market developments
- Managing through market volatility
- Our Research
- Client-ready resources:
World events
The value of your relationship
- Value of an advisor
- Value of an advisor articles:
- How advisors deliver value in challenging times
- A is for the active rebalancing of investment portfolios
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T is for tax-smart planning and investing: the value of considering the impact of taxes on investments
- Podcast resources:
- Value of an advisor articles:
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
- Explore the interactive Cycle of Investor Emotions
Challenging Conversations Guide
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.
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?
Also: Please contact your dedicated Regional Team for a copy of the Client Engagement Roadmap Guide.
Practice poise
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.
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
- 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
More resources
Elevate your client reviews & your practice
Our quarterly review resources includes the latest insights, product review reports, and client resources to enrich your client review meetings.
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