The Verus Team

Valuing Your Clients

Written by: George Shirley - Any opinions expressed are those of George Shirley and not necessarily those of RJFS or Raymond James

There is a bakery a few miles from our house that sells breads, scones, muffins etc. The quality of the items is good, but the reason we continue to return is the wonderful women who have worked at the store.   They treat my young son with incredible kindness and generosity, every time we go.  They make the experience of buying bread and muffins from their store, pleasant and enjoyable and we return as much to see the people there as to get more pumpkin bread.   I can think of at least 3 other places where we could get a similar product that are closer to where we live, but none of them has ever created the same level of satisfaction in buying their product.  They appreciate our business and make us feel important whenever we go.

I think about this often when I spend time with clients.  With any business relationship, what initially attracts a potential client and what keeps the relationship together over time is very different.  And while there is a high level of technical proficiency and knowledge required to provide financial advice, a critical element to the continued relationship is valuing the client’s business and making them feel appreciated.  Regardless of the size of the relationship, everyone has financial concerns, goals and needs.    And many of the potential clients who are referred to our team are not usually looking for a new advisor because of poor investment performance, but rather because the advisor did not take the time to listen and address their concerns.  I continue to be amazed at how many people take their client’s business for granted.      

A mentor of mine told me early on in my career that the key to staying in business was to always give a client a reason to come back to you instead of someone else.   Creating a positive experience through appreciation would seem to be good advice for anyone in business whether you are selling pumpkin bread, financial services or anything else.