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A Cheap, Friendly Way to Check In With Your Customers

June 27, 2014

Summertime comes with a catch-22 for advisors who minister to young families. Between vacations and out-of-school kids’ nonstop activities, clients are hard-pressed to find time to check in with their wealth manager. Yet regular communication is a must in a good client relationship. What’s a conscientious advisor to do?

Schedule a webinar, suggests SEI’s Practically Speaking blog. This is a time of year when technology — specifically, online-conferencing software — can be a savvy advisor’s best friend. The blog cites one FA who holds his warm-weather meeting, which he calls the halftime report, during lunch hour, taking advantage of the relaxed summer vibe. He schedules it to take place a couple of weeks after the end of the second quarter, so market updates are still fresh.

To ensure a successful event, send out invitations well in advance — perhaps offering your webinar twice, so clients have some scheduling flexibility. As soon as midyear investment reports start rolling in, sit down and figure out your message. The stock market’s healthy year-to-date returns are a plus. “It makes more sense to start these types of meetings now when times are relatively good,” says the blog, rather than when clients are “panicking.”

Your busy audience will appreciate brevity, too. “The best calls are 15-30 minutes, educate the attendee, and provide confidence in their plan,” the blog says. Another tip: Concentrate less on market dynamics and more on your firm’s investment philosophy. Clients should walk away from summer meetings seeing how their advisors are making their lives sunnier — and feeling good about the long-term plan they’ve set in place.

By Murray Coleman
  • To read the SEI article cited in this story, click here.