“There are a lot of advisors who don’t keep up with their clients and wait for them to call instead of being proactive and keeping up regularly,” she said. “If my client mentions something about taking a trip at a specific time, I’ll often call them just to find out how it went. It lets them know I care, that I’m thinking about them and it’s led to more referrals while keeping my attrition rates low.”
“Typically I don’t lose clients unless they die.”
Till death do us part – not enough advisors are thinking that way, Waite said.
The report backs up the advisor’s comments, adding that "the future independent wealth management advisor needs to become a highly organized knowledge manager at the core, able to easily access precise information on a client at the right times in order to establish a stronger rapport and capitalize on opportunities as they present themselves," states the report.