This is why your clients might keep you as an advisor — or not

When both of my maternal grandparents were alive, they loved to go to the same local breakfast restaurant every week. They liked the food, but they could have gotten something similar in some other places around town.

Know why they kept going back? The waitresses called them by name when they walked in, sat them at the tables they liked and kept the coffee full and hot.

Your clients want the same thing — great service, and a sense that you care. That’s not just my opinion. You can ask Morningstar.

Sure, clients want you to find solid investments in their comfort zones. They want tax breaks and your guidance on trusts or estate planning. But they will stick around if they feel like they matter to their advisors.?

According to a Morningstar report, clients get on board for financial reasons. But when they leave an advisor, it’s largely because they feel a disconnect.?

Check out Tobias Salinger’s story for more: The non-financial reasons clients hire, keep or fire financial advisors

Thanks for reading.