Are you suddenly doing things in the down turned economy that you weren’t doing when it was in full swing? Such as taking care of clients with a personal touch? Maybe you should look at what you are doing now and think about doing it all of the time.
I was talking to a client the other day and he related this story to me.
It seems he had a financial advisor for many years that was supposed to be taking care of his mid-6 figure portfolio. Interestingly enough, the advisor rarely ever contacted his client. Until the economy took a turn for the worse. Now he wants to have coffee, ask for referrals, etc. My clients portfolio is now worth less than 50% of it’s value two years ago. Yes, perhaps he should have been watching a little closer, but then, why have an advisor as well?
My client told me “I haven’t heard from him during the good times, now that it’s in the tank he wants to wine me and dine me. What I am going to do, without telling my current advisor, is move my money to another guy that I talk to all the time.”
Clients are lost when they are not cared for. Worse, you won’t know it until it’s too late. Be consistent with your care of your clients, which includes keeping in touch.
Bart Gragg
925.757.7473
Print This Post
