Sixth Article in the Series:
Efficiency and Productivity
In conjunction with culling your client list, you will also be developing and refining your plan for serving your Ideal Clients. This is a big step in the efficiency and productivity you seek to achieve.
A service plan for your Ideal Clients begins with your initial meeting to discuss working together and generally includes the following steps:
- Pre-screening initial call to determine if meeting is appropriate
- Initial meeting where the client has likely prepared or reviewed documents relevant to the relationship. Much listening is done by the advisor, key questions are asked to build a foundation of trust and information is shared by each party.
- Schedule follow-up meeting (if necessary).
- On-boarding of client through completion of an engagement letter or contract, along with other documents as needed.
- Engagement of client leads to automatic process of establishing accounts, online access, addition to mail list and details added to CRM (customer relationship management) system.
- Implementation meetings are scheduled as is work required for those meetings.
- Client is part of an automatic process that determines frequency of meetings, correspondence and other activities.
- CRM is utilized for specialized client needs, ensuring that these are addressed and details do not fall through the cracks.
The above is an overview of the service plan. Yours will be personalized to fit your Ideal Client needs and will include the detail necessary to support servicing your client.
The key is having a process — one that is repeatable for each new client you bring on board. You know what is required to serve the client and so does your staff. Communication is enhanced within your firm and to the client and satisfaction increases for all involved. This is how you create the atmosphere for referrals.
To learn more about establishing processes, click here to listen to an interview with Jennifer Goldman of My Virtual COO on “Smooth Operator: Achieving Efficiencies in the Advisory Practice.”