Clients rarely leave an advisor because of performance.
That might surprise people outside the industry, but inside the industry, we see it constantly. When clients move on, it’s usually for one reason: They didn’t feel communicated with. They didn’t feel looked after.
And I’ve seen it firsthand.
A client once told me he had two advisors, me and someone else local. He’d ask the same type of question to both of us around the same time.
With me, he’d typically hear back the same day. Not necessarily instantly, nobody is available 24/7 on demand, but same day. With the other advisor, he’d often wait a day or two, then get a call from the office… to schedule another call weeks out.
That kind of lag doesn’t just frustrate people, it erodes trust. Because money questions usually come with emotion. Sometimes concern. Sometimes panic. People don’t want to sit with that for weeks.
Most people would rather text than call now, so we use a compliant texting service through our broker-dealer. I give clients a dedicated number that they can text anytime including weekends and holidays.
Now, to be clear: I’m not reading texts at 2:00 a.m., and I’m not living with notifications on. But clients know that if they reach out, they’ll get a response next business day at the latest. That reassurance alone reduces anxiety.
The other pillar of communication for me is a newsletter and my clients give me great feedback on it.
Some advisors send weekly content, but for my practice, monthly is the sweet spot. Weekly can feel like “too much Todd,” but monthly keeps me present and consistent. And clients actually remember it.
In review meetings, I’ll hear things like: “As you said in the newsletter a couple months ago, everything’s going to be okay.”
That tells me it’s doing its job. It’s not just content, it’s confidence-building.
When major events hit, I believe you need to communicate quickly, so in those moments, I’ll send what I call a bonus newsletter.
The goal is to answer questions before clients feel like they have to chase me down. Proactive communication protects relationships.
Over the years, I’ve heard a number come up repeatedly in studies and advisor conversations: 18 touchpoints per year for top-tier clients.
When you combine:
…it becomes very achievable without being intrusive.
The point is to stay top of mind, so when they see an ad for some random advisor on social media, they don’t wonder if they should switch. They already know: “I hear from Todd. He’s present. He’s on it.”
Everyone says you “need” to be everywhere - podcasts, video, TikTok, Instagram.
For me, compliance limits what I can do, and honestly I’m fine not being on TikTok, but the platform that has mattered most for my business has been LinkedIn. I started focusing there in 2019 and it’s produced far more than I expected.
A potential client told me this week “I feel like I know you, because I see your posts.” That’s powerful. Trust starts forming before the first meeting. And in this business, trust is everything.
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-Opinions expressed are those of the author and are not necessarily those of Raymond James. All opinions are as of this date and are subject to change without notice. Investing involves risk and you may incur a profit or loss regardless of strategy selected. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete.
Investment advisory services offered through Raymond James Financial Services Advisors, Inc.. Signature Wealth Partners is not a registered broker/dealer and is independent of Raymond James Financial Services. Securities offered through Raymond James Financial Services, Inc., member FINRA / SIPC.
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