How Do They Know?

You’re great at what you do, but how does anyone know?

You help protect clients from risk, but how is it communicated? Do you tell them or is there an action that is actually visible?

Once you’ve spent time outlining a client’s progress, how does he become aware of all the resources involved in making it happen?

These are all tangible strengths that can set you apart from those perceived as average, and yet if you haven’t taken the time to communicate them, it’s very likely that your clients are not realizing how much is required to make them happen.

This begs the question: how will clients be able to define (and refer) a clear value for the expertise you provide? How can they weigh the ongoing efforts of your team with the fees they incur?

What most advisors don’t acknowledge is that clients have neither the ability nor the responsibility to perceive all the things you do for them — and the less you are able to show, the less they think you’re doing.

Often a practice’s added value is behind the scenes; it’s your job to bring it to center stage.

Key Strategies from The 53rd

• Keep a running outline of all services related to a client’s account, and use this as an informal quarterly or bi-annual review to convey level of service for fees incurred
• By tracking and presenting the unseen tasks that you have accomplished for the client, you can ensure a better understanding of value delivered
• Initiate relationships with a service agreement or, if you have one already, incorporate it into milestones like review meetings so that it remains front of mind
• Use meeting agendas to draw attention to recent accomplishments and introduce new ideas. This can help a client see the cycle of concept to completion
• Draw connections to financial initiatives and personal goals in a written tracking document