When I hear advisors talk about the results they provide their clients, their list is often complete after describing only the specific, measurable, financial results. I believe that is a mistake. What is oftentimes missing are the intangible emotional benefits, such as the peace of mind clients often experience once they actually have a financial plan in place. I invite you to carve out time in your calendar to think through the expanded value your clients receive from your services. Your clients benefit from the comfort of knowing they gain more out of their relationship with you than solely the financial piece of your relationship, and as the advisor you experience a greater level of confidence knowing how you add value to your clients lives in an expanded way.
And not only will your clients be happy knowing they gain even more from their relationship with you, but it’s quite possible the reason clients remain clients for the long run is for the expanded value they receive.
Here’s a story to illustrate what I mean: I was with a client last night who shared with me that one of her clients showed up in her office wanting her counsel, not on a business issue but on a family matter. While the advisor had all the paperwork ready to discuss her client’s financial situation, that was not at all what the client wanted to address with her. Over the years this client had realized that her relationship with this advisor provided valuable input that helped her with life decisions, some of which didn’t directly relate to her financial situation.
A large part of the expanded value clients receive in your relationship with them includes the connection and guidance that advisors are able to provide on a variety of topics based not only on their financial services experience, but their life experience as well. Have you ever had a similar experience with a client?
If you’re curious about the expanded value that you bring to your client relationships, I invite you to ask yourself these questions:
- What are the primary results your clients receive from your services?
- How might these results impact your ideal clients finances?
- How might your ideal clients finances affect their health and wellbeing?
- How might your ideal clients relationships be impacted as a result of their health and wellbeing?
- How might your ideal clients relationships impact their future and potential?
This can also be a valuable team building and appreciation awareness exercise as everyone sees the extent of the value they support clients in realizing.
If you would like support in looking at the expanded value that you bring to the table for your clients, connect with me by sending me an email: firstname.lastname@example.org