Why communicating change to clients is easier than you think (+ an email template)
Stephanie Bogan
High-Performance Business Coach to advisors, leaders & founders | Author, Speaker, Entrepreneur
“Clients are never going to accept this.” - Most advisors’ first reaction to implementing surge meetings at their firms.
The truth?
It’s not a big deal.
In our heads, we build up change to be so monumental and disruptive that we don’t implement it at all, when in reality, the shift required from a client’s perspective is minimal.
During our on-demand webinar series (which you can sign up for completely free here!), Limitless coach Adam Cmejla explains how his firm transitioned to surge meetings without doing a mass communication announcing the change. Instead, during one-on-one meetings before the surge shift was implemented, he explained when clients could expect to meet with him going forward, how they’d be scheduling their sessions, and, most importantly, why they’d benefit from the change.
That’s the key. Instead of starting your conversation defensive or expecting pushback, treat it as a way to explain to your clients how valuable the surge structure will be for them.
For instance, you’ll be able to more effectively get in front of timely needs like taxes and RMDs, and you’ll also have more availability during other times of the year should emergencies requiring one-off meetings pop up.
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This email template from Adam is a great example of how scheduling surge meetings works in practice. Note that it includes a convenient calendar link for scheduling, as well as the next steps clients can expect from his firm.
When it comes to onboarding new clients, the process becomes even more simplified. They don’t know what it’s like to work with you outside of the surge structure, so all this communication requires is an introduction to when you typically schedule financial review meetings, and when they can expect to hear from you to schedule meeting times.
Coming next week: How to prepare your team for implementing surge meetings. For now, take a look at our comprehensive guide for a deeper dive into the process of switching to surge cycles!
To getting out of your own way!
Your virtual associate “advisor” - providing CSA and paraplanning support, implementing systems and processes along the way.
1 年I really appreciate the free, on-demand course you put together on surging, Stephanie. It’s already helped a few of my advisors gain confidence in making the switch!
Accelerating Revenue, and Scaling Growth for RIA Firms | Founder, Smart Kx ??????
1 年I hear this all the time regarding contracts. Some advisors absolutely do not want to update the contract or send a fee schedule to the client... even if doing so will eliminate a TON of risk for their firm. When they do, the client hardly bats an eye!
Couldn't agree more with the general sentiment of this article Stephanie Bogan - we see the same concern/reluctance from retiring advisors about the anticipated reaction from clients when the advisor announces their retirement and introduces their buyer. In reality, I don't want to say clients don't care, but they don't care...they don't care because they trust the advisor, and have been taking their advisor's advice for years, sometimes decades. Clients pay for an advisor's advice and recommendation. If you can clearly communicate what the change is and why it is directly or indirectly better for the clients, 99% are going to take your advice and the few who don't probably aren't your favorite clients anyway.