Develop a checklist for client communications

We are a few weeks into 2010 and you may be wondering what you can do to rejuvenate your practice and spice things up

We are a few weeks into 2010 and you may be wondering what you can do to rejuvenate your practice and spice things up. I heard from a team of New Jersey advisers that they are using last week’s ideas about freshening up your workplace and spent the weekend painting their office and adding some high-end “gently used” furniture (the metal reception desk is history). They can’t wait to show off their newly decorated office to clients, but at the same time want to communicate that they are prudent spenders.

The challenge: communications take priority

That’s not the only thing this team is doing to jump-start its practice in 2010. Team members are holding top-client meetings to review December statements with a focus on comparing 2009 with 2008 and emphasizing the positive news. At the close of each meeting, they are proposing joint meetings or calls with their clients’ accountants to be sure everyone is on the same page.

The opportunity: a communications checklist

Check your New Year’s resolutions and be sure improved client communications is on the list. As we mentioned last week, 88% of resolutions are broken because no action steps are taken to make them happen. Follow this quick checklist to make sure you make good on your resolution.

E-mail a “Happy New Year” communication. Share your team’s communication plans for 2010, including newsletters, seminars and events. It is not too late and as many studies have shown, consistent client communications are critical.
Walk through the client experience. Call your office and listen to how the phones are answered: Check how long it takes for someone to answer the phone (it should always be by the second ring).
Limit phone-call hold time. Callers should not be on hold longer than one minute without someone checking back in with the caller. Is the hold music inviting or annoying?
Take inventory of e-mail templates and standard client communications to be sure they are updated and accurate.
Review your team’s brochure or branding statement. This should be updated with current information and a new picture if your team has changed over the past year.
Pay attention to client greetings. When a client or prospect arrives at the office, make sure the receptionist or assistant greets them immediately, takes their coats and offers them a beverage. Send the message that they are important and make it a rule that no personal calls are to be made when guests are present in the reception area.
Review response and problem-resolution turnaround time. Set realistic goals for your team and prioritize the top 50 clients with a same-day response rule. Even if more research has to be completed to resolve their problems or answer their questions, get back to them on the same day so they know action is being taken. For other clients, ask for one or two days — or a realistic time period for your team to get the question answered.
Follow up after every meeting and call. Set your practice apart from the competition by having a compliance-approved template ready to be e-mailed after every call or meeting to thank clients for their time. Review the action steps that are being taken.
Produce quarterly or monthly newsletter calendars. The top advisory teams leverage their top wholesalers for these communications or use an outside source.
Communicate when IRA seminars and check-ups are being held during the first quarter. This is important with all the promotions on Roth conversions and rollovers.

Take time this week to run through the checklist and ask your staff to do the same. Your practice has just one opportunity to make a lasting first impression, so test-drive all the ways you are communicating. Find the gaps and fill them.
Next week: Successful advisory teams share how they are “spicing up” seminars this year.