Create your client “WOW” experience – it is the MOST important thing you do to retain clients. We’ve all seen the studies…HNW clients rarely leave over returns. They leave because they don’t feel their advisor understands them or provides them with a “Raving Fans” Experience. Creating the “wow” experience is about going above and beyond what your clients expect from their advisor to deepen the relationship of a friend, a confidant, and a trusted counselor. I have advisor clients who have taken clients their favorite sweet, completely unexpectedly or purchased them theater tickets to a show they know they want to see. The reaction is amazing and this is what they tell their friends, your future clients.

Another favorite of mine is conducting a client survey every two years. The best way to know what your clients want and how they feel about your services is to ask them. Many owners are resistant to conduct a survey of their clients, but if you don’t ask people what their opinions are, you won’t know what they are thinking. You may find out after enough people have complained and left the firm, but then it is too late to save those clients. You have to be able to take the good responses with the bad. In fact, the negative responses are the most valuable to you in terms of the ROI on conducting the survey. If you can change small things in your firm to be able to easily retain clients, wouldn’t you want to know?

Make their lives less complex! This is ultimately the reason most people seek out an advisor. We have all had clients that want to micromanage and get into the minutia, but your main service offering is to make your clients’ lives simpler in some way, not more complex. Adding complexity to your clients’ lives will only increase their anxiety about making the right decision about becoming your client, not put their minds at ease. Ask yourself in every interaction, recommendation, request, etc. – “Does this make my client’s life less complicated”. If it does, do it. If it does not, don’t do it!

Creating lifelong “A” clients is about forming a deep and meaningful bond with each and every client. By asking your clients where you can improve and correcting those things, going over and above to give them a level of service they didn’t even know they wanted, and making their lives less stressful by making their decisions less complex, you will create that relationship.