Advice Pricing Guide



I got asked a really good question last week. It was all to do with how to communicate to existing clients they would now be managed by a new review adviser.

How can I do it without the client feeling fobbed off?

I’m not sure you can completely eradicate the possibility. It’s inevitable the thought will cross some clients’ minds.

However, it’s also absolutely essential that senior advisers are able to do it. At some point, if you are serious about growing your business, you’re not going to be able to look after everyone.

What I’ve seen work is simply making it a non-event.

I’d suggest there is no need to draw special attention to it. It’s not the changing of the guards at Buckingham Palace. Instead; 

    • Start by introducing the new adviser in person at the earliest possible opportunity. 
    • Help the new adviser find reasons over a period of months to make proactive contact 
    • When an inquiry from the client comes through, have the new adviser follow it up instead of you, possibly using the script “So-and-so isn’t in the office for the next couple of days, so I wanted to make contact and find out if it was something I could assist with“. 
    • The next time a face-to-face meeting or Strategy Update takes place, the new adviser is there, ideally leading a portion of the session. 

If the new adviser is the right hire for your business, the outcome will be the client will begin to see him or her as a key contact in the business. That means the time is right to communicate the change in management, knowing that the relationship is already semi-established.

Ultimately, any good handover is about addressing the key fear that clients have, namely that the ‘unknown quantity’ will not be up to scratch.

To alleviate that, simply ditch the need to draw a line in the sand, and instead allow a relationship to form naturally, without the pressure that comes with a sudden handover.

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