Better Business: Ditching client reports

Providing ongoing reviews for clients is the cornerstone of any professional financial advice business. While all of the advisers we speak to acknowledge this, very few have built a genuine review service that is truly proactive. Such a service would involve the firm ringing the client and saying, “It’s time for your annual review.” More often than not, lip service is paid to delivery of a review service, but it is the client that has to chase the adviser. Let’s be clear about what does not constitute a review: Posting a valuation to a client; Half-heartedly calling the client ...