Meetings are perhaps one of the most important ways to strengthen your relationship with clients.
They give you the chance to understand how their circumstances might have changed and ensure their plans remain appropriate.
Yet, some clients might only meet their adviser once or twice a year, and with the amount of information you need to discuss, you may have little time for a meaningful conversation.
Thankfully, there are several ways you can ensure you make the most of the time available. Here are five of them.
1. Stay in touch with clients throughout the year
If a client only hears from you when their annual review is approaching, you may need to spend part of the meeting discussing everything that has happened over the past 12 months.
Staying in touch more regularly could help you get more from the review.
For instance, you could:
- Send a monthly newsletter
- Post regularly on LinkedIn
- Share timely updates following legislative announcements
- Check in after a significant life event.
These occasional and relevant communications could remind them that you’re available whenever they need support.
Moreover, you may encourage clients to raise topics they have otherwise overlooked.
An article about lifetime gifting, for example, could prompt a client to mention that they’re thinking about helping their children onto the property ladder.
You can then prepare to discuss this during their next meeting rather than only discovering their plans at the end of their review.
2. Communicate in the client’s preferred style
Each client will have different preferences, and there won’t be a single meeting style that will suit everyone.
Some might prefer sitting down with you face to face, while others find a video call more convenient.
Their preferred approach might also depend on the topic of conversation. A business owner may be happy to complete a review online, as it limits the time they need to spend away from work.
Yet, they might prefer an in-person meeting when discussing selling their business.
Similarly, a client approaching retirement might value sitting down with you when they’re making decisions that will affect their income for years to come.
Adapting the conversation to the client could help them feel more engaged, which is especially important when you’re supporting vulnerable clients who may benefit from additional time.
3. Ask about the client’s life before discussing the figures
It can be tempting to start a meeting by discussing a client’s financial situation or working through a more formal agenda.
However, this could focus the conversation on investment performance rather than the person you’re speaking with.
Instead, it might be beneficial first to ask what has changed in their life since you last spoke. You could ask questions such as:
- “Have any of your plans changed?”
- “What has been taking up your attention recently?”
- “How are you feeling about work and retirement?”
- “Is there anything that has been concerning you financially?”
These questions might be more likely to produce useful responses rather than simply asking “How have you been?”
4. Leave more time than you expect to need
Even if you have a planned agenda for a client meeting, a client may reveal a significant concern or life event that requires a longer conversation.
So, leaving space between meetings could give important conversations the room they need to develop properly.
Of course, you may always finish earlier than expected. Still, having extra time means you can respond appropriately if a client mentions divorce, bereavement, or plans to sell their business.
To save time, you could even complete general administrative tasks before the meeting.
Asking clients to update their personal information or provide documents in advance could leave more time for the more challenging conversations.
5. Consider using an AI notetaker in meetings
It’s essential to take accurate notes during a meeting, but spending too much of the conversation writing could prevent you from giving the client your full attention.
As such, it might be prudent to consider using an AI notetaker to reduce this distraction.
Depending on the software, you may be able to:
- Transcribe conversations automatically
- Summarise the main talking points
- Identify any agreed actions.
This could ultimately allow you to maintain eye contact and focus more closely on what the client is telling you.
However, you should remember that there are several risks to consider.
Client meetings often involve sensitive information, so before using an AI notetaker, you should understand where the data is stored and who can access it.
Moreover, you may need to obtain consent from the client and ensure the software meets your firm’s data protection requirements.
Read more: Using ChatGPT to support your work as an IFA? 5 crucial things to know first
While it can be a helpful tool, an AI notetaker should support your professional stance rather than replace it.
Gain the support you need while running your firm your way
Meaningful client meetings often require time to prepare, listen, and follow up properly.
At Corbel Partners, our planning support could reduce the administrative burden you face, leaving you with more time to focus on your clients.
You would still have the freedom to shape meetings and run your firm in the way that works for you.
Want to learn more? Email hello@corbelpartners.co.uk or call 01925 637891.
Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
All information is correct at the time of writing and is subject to change in the future.