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Maureen Wilke

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Yearend client appreciation events: How to give back in a more cost-effective way

By Maureen Wilke

November 9, 2009 12:49 pm ET

This is the time of year when many financial advisers have traditionally held yearend client dinners and parties. However, many advisers have shared that they need help in creating client gatherings that are not so elaborate, more cost-effective, easy to administer (some staffs have been cut by 50%), and reach out to help others.

The Challenge

We heard the need and that will be the focus of INPractice over the next few weeks. We will be sharing charity focused client gatherings that advisers are holding, or have held in the past, with steps to streamline the administrative process. We'll look at how to get these gatherings done without stressing your team, yourself and your budget.

The Solution

The key with these events is they don't just have to be a yearend gathering. This is the time to set your practice apart and remind clients why they work with you. Consider providing these types of gatherings every quarter. Often, clients and prospects are looking for ways to give back and don't know where to start. Have them team up with you and your other clients. The result is an event that is great for networking, client retention, and referrals.

The first client appreciation event is a favorite and we have heard from many advisers who have used this strategy successfully. One adviser shared that two of his retired clients now run the annual client event and have put together teams to visit a local hospital to do volunteer work throughout the year.

It's On

Southwest Airlines' slogan says it all … “It's On.” It is not too late to create an event. Follow the steps we have outlined and remember there is no reason these ideas can't be used to jump-start the new year. We have had advisers get their event up and running within two days by sending out “e-vites” instead of printed invitations.

The event

A reach-out event at a local hospital where your clients can spend time and volunteer with children and teens with serious illnesses. The goal is to bring your best clients together at Thanksgiving and provide an opportunity for them to give back to the community. They will feel great about their participation and and walk away seeing how together you can make a difference. Also, invite their friends to join in.

This will become an annual event that everyone will remember and look forward to.

Planning

Normally, arranging an event of this type can take several weeks. But let's keep it simple and get it done.

First, select a local hospital. This adviser works with a local children's cancer hospital and the kids there absolutely love it when guests visit. If your clients have a relationship with a certain hospital, use that one. If a hospital doesn't work, consider a homeless shelter, nursing home, children's home, soup kitchen, food pantry, women's shelter or other similar venue.

Next, ask to speak with the facility's volunteer coordinator or planning team. They'll assist in planning your event or suggest an event already in the works that you can tie into. Make sure your guests will feel they are involved in a special, uncrowded activity, since this replaces your annual client dinner. Scheduling the event for Thanksgiving Day itself may be too difficult with family demands, so try for the weekend before or anytime in December.

Budget

Plan for about $30 per person for a breakfast or lunch you will host before or after your clients spend time volunteering at the hospital. If the volunteer time runs later in the afternoon, you may want to hold an informal dinner afterward.

For that, budget about $60 per person with drinks. If a mix of 50 clients and their friends or family members attend, this translates to about $1,500 for the breakfast or lunch and about $3,000 for dinner. Also plan for a few extras, such as a clown or other entertainment for children and token gifts to the patients.

Sample Invitation

JOIN US FOR A THANKSGIVING CELEBRATION AT THE XYZ CHILDREN'S CANCER HOSPITAL

The Smith Financial Planning Team supports the XYZ children's cancer center and would like to invite you to join us for an afternoon of reading, singing and playing with the children in celebration of Thanksgiving.

Many of these children are spending this time of year at the hospital and we want to let them know how special they are.

We will be meeting at 1 p.m. in the hospital lobby and the staff has arranged for us to work with several key areas at the hospital.

We will be rocking babies, reading stories to the younger children and challenging the 12- to 14-year-olds in a game of ping-pong.

You are welcome to bring your family or a friend. We will be hosting a lunch immediately following to give thanks to our volunteers.

Date: Saturday, Nov. XX, 2008

Time: 1 p.m.-3 p.m. (meet in the hospital lobby at 12:45 p.m.)

Location: 123 Anywhere Street

Lunch: 3:15 p.m. — Following our hospital visit, you are invited to a Thanksgiving lunch at the (restaurant name and address) to thank you for making a difference with the children and helping this wonderful hospital.

RSVP: Please call John at our office at XXX-XXX-XXXX to volunteer and select an area you would like work in.

Event planning checklist

Immediately:

* Select your charity, create the invitation (see above), and consider inviting a surprise guest (e.g. a clown or magician for a children's hospital).

* Send an e-mail to clients telling them to hold the date.

* Confirm a nearby restaurant for the breakfast, lunch or dinner. We suggest dining after the event, so clients can share their stories and enjoy the group.

* Pre-select a menu and ask for group tables of eight.

* Meet with your internal team to confirm the event goals and date, responsibilities and the checklist for the person tracking attendees and meal requests (create a spread sheet the team can share).

* Send out client e-vite invitations. Have clients return e-mail confirmations and food choices.

Two weeks ahead:

* Check with your assistant on the head count and start following up with clients.

* Call the restaurant with a preliminary head count and confirm food choices, time and room setup. One easy solution is to choose a restaurant with a brunch buffet.

* Take digital pictures at the event and show them at the restaurant when guests arrive by using a projector for a slide show. This is a nice touch, so be sure to assign someone to take the pictures and download them onto a computer for the show.

* Call the event contact to confirm the date and time your group is coming, areas to volunteer in and to confirm if a guest entertainer is coming.

One Week Ahead:

* Call each attendee to confirm they and any family or guests will be attending, as well as their meal choice.

* Call the restaurant for a final count with menu choices, starting time and beverages.

* Print name tags for the volunteers with their assigned area or team name if needed.

* Prepare your follow-up/thank you e-mail and have it approved by compliance.

The day of the event:

* Bring nametags and arrive one hour early to be sure everything is set.

* Have your assistant stop by the restaurant to check the room setup, meet the servers, confirm the meals and serving time. Don't use place cards — it will feel too formal.

* At the hospital, welcome guests, introduce your team and introduce clients to each other. Foster a sense of teamwork — this isn't a business meeting.

* At the luncheon, welcome the guests again and play the slide show, which will depict all your clients helping out during the past couple of hours.

* Close the session while everyone is finishing dessert and announce the plans for next year.

Follow-up:

* Send an e-mail to thank your volunteers for their help and include pictures from the day.

* Consider a follow-up phone call to guests with your contact information and consider offering a financial review.

* Call each of your clients personally and thank them.

Next week: Another charity event that rocks clients.

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