5 Tips for Building Customer Loyalty

Tip 1:  Give Outstanding Customer Service Tip 1: Give Outstanding Customer Service

Give every client your cell phone number and always answer your phone if available. If unavailable, call back very quickly, even if you have had bad news. Inaccessibility is the biggest gripe clients have with their advisors, says Rummage.

Tip 2:  Sell Customers on You, Not Your Firm Tip 2: Sell Customers on You, Not Your Firm

Never sell your clients on your firm, says Rummage. Instead, sell them on you and your incredibly unique advice. Loyalty should lie with you.

Tip 3: Keep Your Clients Focused Tip 3: Keep Your Clients Focused

You are not paid to beat the market. You are paid for financial planning and exceptional service. It is up to you to hold your clients’ feet to the fire and make sure they stick to the plan.

Tip 4:  Know Your Clients and Their Families Tip 4: Know Your Clients and Their Families

Have high-touch with your clients and get to know them and their families, even if you spend just 10 minutes quarterly to call them to touch base. Be sure, though, to spend eight of those minutes talking about them and their families and two minutes telling them you reviewed their investments/plan and everything looks good.

Tip 5:  Never Sell Proprietary Products Tip 5: Never Sell Proprietary Products

Under no circumstances should you ever sell products that are uncommon and not offered at most firms. This, says Rummage, is “the kiss of death” when you change firms.