Partner Insight: Logic Wealth Planning's Stephen Trenholm and Greenstone Financial Planning's Catherine Greeves met in London recently to discuss the topic 'Adviser approaches to client engagement - is digital king?'
Talking to Professional Adviser editor Julian Marr in the above video, the second of five in this series, Trenholm and Greeves discuss which methods of client engagement have paid off most for them in their business.
"What works well for us," says Trenholm, "are things like newsletters and charity days; we run a regular charity golf day for a hospice in Rochdale. Ultimately we engage with clients in different ways and there isn't one particular format that works better than others."
Greenstone's most popular engagement tactic has been a client event they've run each year on the anniversary of the firm's inception.
Greeves says: "In the past we've invited clients the Shard and to the Horse Guards museum. This year we're going to the Hotel Chocolat café and it's an opportunity for a number of clients to come together, eat good food and drink good wine! The feedback we've had has been fabulous."
She adds that the referrals into the business as a result of these events has made them worthwhile.
Asked about how each firm sets about segmenting their clients, Stephen Trenholm says it really depends on what the client need is.
"The size of the client's investment pot is almost a moot point. The way that I try to segment the client bank is to look at what they need, how best that can be serviced, and whether there are any vulnerabilities that need to be addressed."
Greeves says: "I agree with Stephen. Segmenting clients based on the assets they have doesn't work because some who have a significant amount of assets might need less work and engagement than others.
"So we've looked at it more from the perspective of: are they accumulators, are they saving and if so, what for? Engaging with clients on what their glide path to retirement looks like has really helped us understand what we can do to help."