What typically happens first?

1) You communicate more with a client and then they pay more


2) The client pays more and then you communicate more

Typically 2 is the norm. You get a high paying client who needs lots of services. Then you typically speak / meet with them more frequently.  So communication follows fee.

Why don’t you flip it around. Get into a systematic routine of communication and guess what happens …. they end up needing more services and everyone wins.

I believe the role of the trusted adviser is that all clients that you want to serve are buying all products they need (from you) that helps them achieve their goals. PERIOD!

To help your client achieve their financial goals you first need to understand their goals. There is an entire process (template and training) around this that I have developed called a GAP meeting – Goal Achievement Process. The objective of the GAP meeting is to understand their situation better, understand their 3-5 year financial goals and understand their current issues. Then go away and think about it and offer some new services (ideally on Value Based Fees) to help them solve their issues and move towards achieving their goals.

The GAP meeting forms part of an annual client communication program.

The annual communication program is for all (business) clients you want to keep regardless of what you do for them during the year.

It goes like this…

1) Annually you present the year end compliance on last years result. You explain the year that was, explain where the money went, talk about the tax to pay and why. You also talk about the new ideas you have found in the current project – you found some new ideas in the current piece of work. Then you switch gears and talk about the year ahead. You review goals, issues etc (quasi GAP meeting) and find new projects for the year ahead. You walk away with an upgraded engagement for the year ahead. More than likely a higher monthly fee. This is an Annual General Meeting with a GAP meeting as part of it

2) Mid year you have another meeting to touch base and see how they are going. You review goals / problems / progress

3) Periodically you send messages – “how’s it going” type message by text, email or private message

4) You run client events on topics throughout the year – seminars / webinars etc. Have an active social media push (content) and run a client advisory board once per year to get feedback – you might normally call this a focus group.

If you were to load up that level of communication (all free except for valuable seminars) then you will be inundated with new work.

Remember the objective is all clients buying all services they need that helps them achieve their goals.