Securing the Client Engagement

Morrow, Edwin C.
June 1996
Journal of Financial Planning;Jun96, Vol. 9 Issue 3, p82
Academic Journal
This article suggests some practical techniques to a financial planner to secure client's confidence. Despite a substantial investment of time and money to become professionally educated, equipped and staffed, many financial advisors may not be as well prepared as they should be for an initial presentation to potential clients. The objective of the initial presentation is to secure the right relationship with the right people, on the right terms, with a firm referral commitment. One should review his present client base and determine which clients are the most satisfying and the most profitable. The most affluent client, requiring an extensive amount of time, may not be as profitable. Determining the target market(s) first will help to make selections regarding the circumstances of initial presentation. The best technique is to describe in writing one's desired customer. Practicing as an investment advisor means one has executed a letter or agreement of engagement and have evidence of having delivered a disclosure brochure or document. These must be consistent with regulations and with the practice.


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