New ideas to spice up client events and seminars

Now is the time to identify client events and seminars for the year. Many advisers have told me they have fewer administrative staff members and lower budgets than in the past and are looking for new ideas for client events and seminars.

Now is the time to identify client events and seminars for the year. Many advisers have told me they have fewer administrative staff members and lower budgets than in the past and are looking for new ideas for client events and seminars. It is important to increase client communications to keep reinforcing the value of your practice. The key is to add some spice, leverage outside resources for client gatherings, and mix business with fun.

THE SOLUTION

Plan two to three focused events tied to your top 40 to 50 clients. When you have too much on your plate to add an event, one solution is to connect with local charities and help co-sponsor their events. Several advisers are getting involved with charity golf outings, fashion shows and university educational events. Here is how they are doing it:
Successful partnerships. Boutiques and high-end retail stores such as Nordstrom hold in-store events, including fashion shows and other fundraisers in which you can take part. They do all the work, take care of all the details, and you can add your group to the audience. This keeps your costs down while still letting you take credit for an event with incredible client value. The key to maximizing the event is to set aside an area for clients to gather beforehand to meet, network and even hear a brief market update. At a recent museum fundraiser, one adviser requested a special tour for clients before the event began.
Gardening is golden (and nutritional). One top adviser has seminars at an area historical garden that holds winter events. The setting is refreshing during the winter months, his retirees welcome the gardening tips, and refreshments are served. The gardening staff takes care of all the planning and sets aside space for the adviser to welcome his clients. The entire cost is under $10 per person and requires no guarantees.
Roth conversion or 401(k) retirement checkups. This is a timely meeting or group update for all clients. With all the news about conversions, clients are wondering if they qualify; if they don’t, this is the time to ask for a referral for any family or friends who do.
Tips for holding client meetings
Here are steps for high-end, yet low-cost, group meetings that one wirehouse adviser uses to stay connected with lower-tier clients’ retirement dollars:
One month ahead
• Confirm your topic, presenter and venue (confirm the food, time and audio-visual needs)
• Send out or e-mail invitations to your clients and their guests with a catchy message in the subject line or on the envelope.
One-two weeks ahead
• Create an agenda and have handouts or materials approved by your compliance officer. Check on LCD projectors and microphones. We recommend using a microphone for any group larger than 10 people.
• For a dinner or meeting with a speaker, have the room set up in round tables of eight (never use 10 — it’s too crowded) or a U-shape to allow your speaker and you the opportunity to walk around.
• Call the venue to confirm the starting time and times for drinks and food to be served. If you have more than 20 in your group, consider using a bar so guests are sure to get something to eat and drink quickly. With larger groups, consider a buffet with several stations to allow your guests more flexibility. Often for dinner and evening events, guests have come right from work and will be hungry.
• Call all invitees to confirm their attendance and invite them to bring a friend.
The day of the event
• Bring nametags (use big type), agenda and materials.
• Arrive one hour before the event to check the room setup, valet parking, introduce your team to the staff and check the timing for the drinks and food to be served. Do not make your guests wait — it sends a message you haven’t prepared.
Here is an ideal timeline for an evening dinner from 6-8 p.m.:
• 6:00: Serve cocktails and hors d’oeuvres as guests arrive. Personally invite guests to start sitting down at 6:20.
• 6:30: Welcome everyone and provide brief introductions (five minutes). Dinner should be served promptly at 6:30 (a buffet usually keeps the program on time).
• 7:00: Guest speaker begins. If a wholesaler is sponsoring your dinner, offer to let him speak for five minutes at 7:50 once your guest speaker has finished.
• 7:55: Conclude the program with a memorable close and invite guests to stay for questions. Let guests know you will be following up with them later in the week.
Follow-up and gain referrals
Send a follow-up e-mail the next morning to thank your guests for joining you and tell them what your follow-up action plan is. This is the key to turning client’s guests into referrals. Have an e-mail template prepared before the meeting (one for referrals and one for clients). This can even be set ahead of time into your computer for delivery the next morning.
Call within two to three days to schedule a follow-up meeting.
Event tips
• Plan event topics tied to your clients’ specific lifestyles or business interests.
• Hold events at the time that best suits each client group: during the week and early morning for retired clients and early evening for professionals and business owners.
• Set an agenda with the audience’s benefit in mind. The seminar should not be a sales pitch for your products; it should focus on the educational value you provide.
• Confirm all the event details in advance (use the checklist from Week 2)
• Control the meeting from introductions to the close, stay on time, and tell attendees when and how you will follow up.
• Always allow clients to bring friends and family to generate referrals.

Maureen Wilke has spent 20 years in marketing and wealth management with firms including Nuveen Investments and Sequoia System International. She has worked with thousands of advisers to increase their effectiveness and has developed The CONNECTED Advisor practice management system to help product distribution teams and advisers on practice management strategies. Sign up for the free Stay Connected newsletter at www.connectedadvisor.com.