Our last blog post listed 4 tips to keep in contact with clients. Keeping the lines of communication open is essential to building a trusting relationship. Work to build a strong relationship with both the client and the client’s spouse in order to maintain the relationship after the client’s death.
A recent article from Investment News states “With some estimating that about 70% of widows leave their financial adviser in the first year after their husbands’ death, and with widows comprising about a third of women 55 and older, advisers must do more to build trust if they are to retain the female side of their client relationships.”
This article discusses tips for building that necessary relationship.
- Building trust takes more than occasional chitchat.
- Push to include both the client and spouse in meetings.
- Make sure to have conversations with both the husband and the wife about expectations.
- Work to build a relationship with each party independently.
Your relationship is sure to benefit by having information from both the client and the spouse, helping illustrate a more complete picture of the pair’s needs and expectations.
Advisers: Can you pass the ‘trust fall’ test?
Key to retaining widowed clients is building deep ties early on
By Lavonne Kuykendall
December 4, 2011 6:01 am ET