Adding Value to Your Client Relationships in Authentic Ways

By: Steven J. Atkinson, CFS
August 5, 2019
Hands depicting building client relationships with puzzle pieces

If you’re in the financial or money business, you may want to skip this article. If, however, you are in the people business, this article will be of value to you. It is important to consciously recognize whether your primary value-add is offering all the tools for your clients or mastering relationships with your clients. They’re both important for a successful client experience, but the tools are table stakes. Mastering client relationships is where you can differentiate your business from the rest and provide invaluable service that will maintain life-long clients.

This article offers 3 main ways to add value to your client relationships, starting with always being on the hunt for different and authentic avenues to do so. Here are 3 tips.

1. Learn who is important in your client’s lives and show up to support them.

For example, your clients may be family-oriented. If they are excited about their children’s or grandchildren’s activities, you may want to ask if you can attend an upcoming event. Your clients likely want to have people they respect to show up and see their children succeed. If a child is a great musician, attend a recital or see the band. If the client has a son or daughter who is an athlete, go to watch a game. At graduation, make sure you’re in the crowd for the ceremony—and so on. Being present in different aspects of your clients’ lives builds a trust that shows you care about them.

Recently, I advised an advisor to ask his most important client for his daughter's upcoming high school basketball schedule. When the client asked why, he responded with, “You have told me so much about her college recruiting process that I wanted to see one of her games.” The client was thrilled and couldn’t wait to see the next game with the advisor. The impact of your presence will add value not only in your client relationship but also in the relationship between you and the children.

2. Understand your clients’ passions, and collect news about their interests.

Recently, an advisor mentioned that when he flies, he brings along a supply of magazines. On the flight, he peruses them for things that are of interest to his clients. Afterward, he may have a stack of 5 to 10 items that he can send to certain clients with a note that says, “I was on a flight recently and came across this article. I’m not sure if you saw this yet. Hope you enjoy.”

Imagine what clients must think when they receive something like that. How would you feel if you knew someone was thinking about you on their vacation or business trip? A gesture such as this shows your clients that you listen to what they say, and you are invested enough to go out of your way to show them.

3. Switch roles—ask for their opinion.

This is a great way to add value to relationships. If you called a client and asked them to lend an opinion to help you make a decision—personal or professional—they might feel more valued in your relationship. After all, your clients seek your advice, but how often do you seek advice from them? When advice and counsel go both ways, that’s a true hallmark of a great relationship.

Building a strong foundation

There are probably hundreds of ways to add value in relationships. Make sure you build a strong foundation of systems and tools for your business, so you can focus on being in the people business and dedicate your time to mastering relationships. It’s the future of our role. I would love to hear back from you on ways you are adding value that might be considered out of the norm.

About the author

Steven J. Atkinson, CFS is Managing Director, Advisor Relations for Loring Ward. Loring Ward is a comprehensive business partner for registered investment advisors.