CMG AdvisorCentral

Tactical investing news, views and resources for financial advisors

What Our Clients Care About

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Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG Capital Management Group

Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG

“I went to the woods because I wished to live deliberately, to front only the essential facts of life, and see if I could not learn what it had to teach, and not, when I came to die, discover that I had not lived. I wanted to live deep and suck out all the marrow of life…” – Henry David Thoreau

In the end, like Henry, our clients want favorable outcomes. What are these and why are they important? In our business a favorable outcome may be a comfortable retirement, college education for our gradchildren and grandchildren, protection for our loved ones in case of disability or death, a well funded emergency fund or a number of other specific goals. These are all long term outcomes. Today, there is too much focus on the moment and on disruptive events than on these long term needs of families. As advisors we need to help our clients not be victimized by short term circumstances but rather use these events as springboards for long term wealth accumulation.

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How to Create a Memorable Client Experience

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Michael F. Sciortino, Sr. Executive Vice President, Managing Director, Head of Distribution, CMG Capital Management Group

Michael F. Sciortino, Sr.
Executive Vice President, Managing Director, Head of Distribution
CMG

You know, the client experience that everyone in town talks about.  The client experience that everyone looks forward to.  Let’s start with turning your shoulds to musts.  Over the years, I’ve heard them all.  I should put on that seminar.  I should call 3-5 clients per day.  I should mail 5 personal notes a day.  I should plan my next memorable client event.

Now, let’s try that again, in order to achieve the results you want in your practice.  I must put on that seminar.  I must call 3-5 clients per day.  I must mail 5 personal notes a day.  I must plan my next memorable client event.

One of the secrets successful advisors have shared with me over the years is that surprisingly many of their most successful ideas are not new.  However, they have taken the time to discover them and then model their actions after other successful advisors.  Makes perfect sense to me.  When you take these ideas from others you in effect compress decades of learning into days.

One such idea that an advisor I worked with in a small town used was an annual anniversary party in a local park.  Even if you happen to be in a large city, you can do this in a suburb.  Here’s how he set it up.  At the event, clients are served BBQ and are entertained by a 3 piece band.  Every year he invites his clients and friends along with all city leaders and movers and shakers in the community.  The next part I think is brilliant.  He enlists several high school students dressed in his company’s logo shirts and khaki pants to serve his guests.  This is a great way for him to build goodwill by offering the students much needed service hours and socializing with clients and prospects.

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Does a lot of planning and preparation go into this event?  Sure.  However, what we fear most is what we most need to do!  So, go ahead and start planning an event that is fun, something people want to do, and something that will allow you to stand out from the crowd.  As W. Clement Stone used to say, “Thinking will not overcome fear but action will.”  Here’s an action that will help you expand your practice by creating a memorable client experience.  What are you waiting for? – Mike Sciortino