Preparing for year-end client meetings

October 7, 2016 by Tony Velasquez

A female advisor having a year-end client meeting with her female client at an office table

About the author:

Tony Velasquez

Technology adoption manager

Tony has worked in multiple areas at Advicent and has insight into various segments of the industry. For the past few years, he has been an integral part of the Tech Adoption Management team by managing relationships of large enterprise clients with various projects, training/implementation, and organizational readiness of Advicent tools for advisors to be successful within their practice.

We are in the last quarter of 2016, and many advisors are preparing themselves to set up those year-end client meetings to make sure their financial life is still on track. Making sure advisors and clients are on the same page will be of value when 2017 planning begins.

How to prepare for year-end client meetings

We all know that the financial planning process must be a continuation model in order to sustain a successful practice. Therefore, firms must make sure they are ready for the end of 2016.  Below are a couple of takeaways for advisors to help make their year-end client meetings more successful.

1. Go over workflow

Ensuring your process is clean, efficient, and repeatable is a key element to a successful business. Understanding your role as the advisor to provide updates, recommendations, and remain the trusted individual with a client’s financial future can also make your workflow a better experience.

Leveraging the NaviPlan® financial planning software workflow functionality can also make the process smoother. With the ability to review and approve plans to ensure that your client output is compliant and ready to use.

2. Review the plan

Going back over previous client data and confirming that information is up-to-date will provide an improved client meeting experience. Additional fact finding can only enhance your client’s comprehensive financial plan. During these year-end client meetings, you can have continued conversations around recommendations to improve the plan going into 2017.

Additionally, it is valuable to have a colleague or an assistant to review the plan as well. Not only is that plan getting a second set of eyes on the data, but colleagues can also assist in recommendations of which you may not have thought.

3. Provide reminders for 2017

As the year ends, making sure clients are aware of what is coming with the new year can play an important role in the client-advisor relationship. Objectives such as tax forms, additional income streams, potential vacations, etc.

Allowing the conversation to start early empowers advisors to make proactive adjustments in the financial plan that best suit the needs of the client. This will also get you on the right track to knowing which clients have different needs in the upcoming year for which they need to plan.

Year-end client meetings are near. By leveraging the strategies above, your meetings will run smoothly and provide an exceptional client experience. End your 2016 calendar year strong with hard work, preparation, and execution to set yourself and your clients up for financial success in 2017.

Click here to learn more about providing engaging technology to empower your clients for financial success with our Narrator® Clients portal or call (885) 855-7526.