Relationship alpha
Relationship alpha
Relationship alpha is all about how you stand apart in the eyes of your client. According to our Pathways to Growth: Advisor Benchmark Study, offering a broad range of services can help increase your level of engagement with existing clients, which can lead to greater satisfaction and more potential referrals. To generate this level of relationship alpha, you may want to focus on three areas: personalized planning, client satisfaction and referrals, and retirement plan advising. Find more about these topics below or visit similar collections for Client acquisition and Strategic scale.
Personalized planning
While services such as investment management, financial planning and retirement planning are the building blocks of most advisor practices, firms offering an additional menu of services saw greater growth. But it’s not necessary to have in-house expertise in all areas. Instead, consider how you can add value through planning, offering business referrals and preparing clients for what to expect.
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How’s your retirement planning playbook?
Today’s retirees seek guidance on every front – financial planning, yes, but also life planning, health, values and legacy. Is your practice ready? Our resources can help.
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Build a multigenerational growth strategy
Personalize your planning further by offering services to multiple generations. Clients appreciate when you care about what is most important to them: their families. And engaging the next generation today can help with growth over the long term.
6 MIN ARTICLE
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Bridge the Generation Gap: How to have a family wealth briefing
A great way to meet the next generations of clients is to bring families together to discuss missions and values, wealth management and transfer plans, and estate planning considerations. It’s a chance to engage the family in frank discussions about finance.
9 MIN ARTICLE
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Guide to tax and estate planning for advisors
Offering guidance on estate planning can help strengthen client relationships and fuel your practice’s growth. Find ways to start tax and estate conversations with clients.
8 MIN ARTICLE
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How to help HNW investors create a values-based charitable giving plan
You can add further value helping clients navigate the nonprofit landscape while also optimizing any tax benefits that accompany donations.
12 MIN ARTICLE
Client satisfaction and referrals
Our study found that referrals drove growth for advisor practices far more than anything else. A successful referral strategy should start with your most satisfied clients — those “brand ambassadors” who are most likely to tell everyone they know how great you are.
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How to have better client conversations (even in uncertain times)
So much of the satisfaction in the advisor-client relationship hinges on the conversations you have, when prioritizing long-term goals as well as when providing reassurance during times of volatility. Our four-step conversation framework can help you stay intentional and find opportunities even in times of uncertainty.
7 MIN ARTICLE
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Top ideas for client events and how to make them great
The advisor-client bond can be deepened further when you get to know friends and family members. Annual celebrations, regular appreciation events and educational seminars offer great ways to engage the family, while also displaying your gratitude for the relationship.
10 MIN ARTICLE
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Create a center-of-influence strategy that works for you
If you’ve tried to leverage centers of influence in the past with mixed results, here are some ideas for refining your approach.
8 MIN ARTICLE
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Why you need an advisory board, and how to create one
If you are interested in sharing business ideas with like-minded professionals, creating an advisory board can provide a good way to build connections and, over time, potential referrals.
9 MIN ARTICLE
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The power of storytelling
Storytelling can be a powerful tool for conveying information about money and investing. Find examples of stories that help keep clients engaged — and help them stay the course during market volatility.
7 MIN ARTICLE
Retirement plan advising
Managing retirement plan assets provides an inroad to high-power business clients and can boost assets under management. And you can feel good about helping individual plan participants. For some, retirement plan advising provides a great funnel for new wealth management clients.
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4 reasons to add retirement plans to your practice (and how to get started)
If you have only considered managing defined contribution plans, this article will explain the benefits of retirement plan business and help you take the first steps.
7 MIN ARTICLE
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Create a clear value proposition for your retirement plan practice
As your retirement plan business matures, it’s important to articulate your core principles for this part of your practice.
5 MIN ARTICLE
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How to prospect for new retirement plan business
If you are managing plans and looking to increase business, you may be surprised to find potential referral sources in places you might not have considered.
5 MIN ARTICLE
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Building a retirement plan business, with Greg Mendoza
Hear from an advisor who built a billion-dollar business through retirement plans, and get real-world advice on how to get started and set yourself apart.
22 MIN PODCAST
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