Streamlining Preparation for Financial Advisor Client Review Meetings
Client review meetings are more than periodic updates; they are pivotal for reinforcing client relationships and identifying growth opportunities. Client service associates play a critical role in ensuring these meetings are fruitful. Here’s a streamlined approach to preparing for these key interactions.
1. Defining the Scope and Attendees
Before diving into logistics, clarify the meeting’s scope with the advisor. Will it be strategic, focusing on long-term goals, or tactical, addressing immediate needs? Knowing this determines who should attend—whether it’s just the client and their spouse or a broader team that includes other trusted advisors.
2. Purpose and Duration
Each meeting should have a clear objective. Is it a routine review or an opportunity to discuss new assets? Define the goal and schedule accordingly, allocating enough time for a thorough discussion without feeling rushed.
3. Coordination and Client Engagement
Coordinate team schedules well in advance and provide the client with two meeting time options in order to be sure the date and time works well within both client and advisor scehdule. Engage with them to learn about any recent changes or questions they may have. This is also the time to remind them of any documents they should have on hand.
4. Gathering Information
Preparation is the cornerstone of success. Assemble all necessary documents such as portfolio reports, investment analyses, and estate planning documents. Review previous meeting notes to ensure continuity and address any outstanding items.
5. Agenda Crafting
A well-crafted agenda is essential. It should outline the client’s current financial position, any updates since the last meeting, and provide a structure for discussing goals and objectives. Highlight any personal notes to bring a tailored touch to the meeting. The agenda should also list actionable items and potential recommendations, ensuring a proactive stance on future planning.
6. Pre-Meeting Review and Confirmation
Review the agenda with your team to incorporate any last-minute changes. Confirm the meeting details with the client the day before, addressing any logistical queries, especially if conducting a virtual meeting.
7. Execution and Follow-Up
On the day of the meeting, ensure everything is in place for the advisor and extend a warm welcome to the clients. Take meticulous notes during the discussion to capture all the details accurately.
After the meeting, promptly record all action items and enter them into the CRM. Follow up with a summary of the meeting to the client and schedule any necessary follow-ups.
Learn More
By taking these steps, client service associates can set the stage for a successful client review meeting. And remember, for a deep dive into perfecting this process, our free course “Preparing for Client Review Meetings” offers comprehensive training to hone your skills. With focused and systematic preparation you can solidify client trust and pave the way for new business, making every meeting an opportunity for growth.