A Clear Picture for Client Growth and Management

Vessenes, Peter M.
April 2005
Journal of Financial Planning;Apr2005, Vol. 18 Issue 4, p32
Academic Journal
This paper focuses on generating and managing new and existing clients in the financial services industry. Everyone knows generating and managing clients is the largest element to success in a practice. Marjorie was a bright individual, born overseas and a true self-made entrepreneur. She was completing her certified financial planner certification, and had become quite insightful in legal tax shelters for investors who owned their own businesses and earned more than $300,000 a year. She had more sophisticated insights into tax-efficient strategies for her target audience. All clients need to have their fears assuaged while learning how sophisticated strategies help them build and keep wealth. Vince had a large book in a fee-only practice. He had categorized his clients into A, B and C lists. Most of these clients had been generated during the dotcom period of irrational exuberance and Vince had not really built any strategy for generating new clients since his book was so large. Henry and Charles managed a fairly large organization: over $4 billion in assets under management, an a staff of about 70 people. They prided themselves on the quality of their employees and level of clients they served. Size, stability and profits are not guarantees that one have made the practice all that it can be. Professional advisors who have helped others are an important reality check for all mature practices.


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