Advisor Forum update: Veteran advisor shares little tips for big success

“Training up” support staff so they are, at a minimum, insurance- and securities-licensed (and therefore able to handle a larger range of client questions that would normally be forwarded to you); “Training up” support staff so they are, at a minimum, insurance- and securities-licensed (and therefore able to handle a larger range of client questions […]

By John Craig | December 9, 2004 | Last updated on December 9, 2004
3 min read
  • “Training up” support staff so they are, at a minimum, insurance- and securities-licensed (and therefore able to handle a larger range of client questions that would normally be forwarded to you);
  • Checking out the office environments of major legal and accounting firms;
  • Listing in your brochure (in point form) all the services you provide;
  • Keeping your website information up to date (“There’s nothing worse than an out-of-date website. It says again, you’re not on top of the business”); and
  • Going the extra mile in preparing consolidated statements for clients (“It is probably, in my experience, one of the most valuable benefits you can give clients because you’re simplifying their lives.”).

    Near the end of his presentation, Rogers also drilled home the importance of transparency and complete disclosure with clients, recommending the use of an engagement/disclosure letter that outlines details such as what your services are, how you provide them, what your qualifications are and what companies may “impact on” your advice. (For more on engagement and disclosure and a customizable template to create your own document, please click here.)

    Although it requires a little extra work to prepare, Rogers views the engagement letter as a solid marketing tool. “You probably haven’t told a lot of your clients all the things you do for them … [An engagement letter] holds you to a higher standard because you have to deliver on these things, but at least it will make them understand what they’re getting for whatever it is they’re paying,” noted Rogers.

    Filed by John Craig, Advisor.ca, john.craig@advisor.rogers.com

    (12/09/04)

    John Craig

    • “Training up” support staff so they are, at a minimum, insurance- and securities-licensed (and therefore able to handle a larger range of client questions that would normally be forwarded to you);
    • Checking out the office environments of major legal and accounting firms;
    • Listing in your brochure (in point form) all the services you provide;
    • Keeping your website information up to date (“There’s nothing worse than an out-of-date website. It says again, you’re not on top of the business”); and
    • Going the extra mile in preparing consolidated statements for clients (“It is probably, in my experience, one of the most valuable benefits you can give clients because you’re simplifying their lives.”).

    Near the end of his presentation, Rogers also drilled home the importance of transparency and complete disclosure with clients, recommending the use of an engagement/disclosure letter that outlines details such as what your services are, how you provide them, what your qualifications are and what companies may “impact on” your advice. (For more on engagement and disclosure and a customizable template to create your own document, please click here.)

    Although it requires a little extra work to prepare, Rogers views the engagement letter as a solid marketing tool. “You probably haven’t told a lot of your clients all the things you do for them … [An engagement letter] holds you to a higher standard because you have to deliver on these things, but at least it will make them understand what they’re getting for whatever it is they’re paying,” noted Rogers.

    Filed by John Craig, Advisor.ca, john.craig@advisor.rogers.com

    (12/09/04)