Treat Every Client Like a Celebrity

Celebrity infers celebration. That’s the idea. Celebrate every client. When prospective clients come up that elevator for the first time, they are often scared half to death. They have amassed a certain amount of wealth, yes, but to them it is their life savings. They are facing the prospect of retirement, which means no more paycheck. Whatever they have saved and invested up till now is going to have to last them the rest of their lives. It’s a scary prospect for most. For one reason or other, they have taken the step of coming to see me. They deserve my gratitude and respect, no matter how large or small is their life savings. Some advisors take the approach that every prospect falls into one of three categories: planning trail, product sale, or garbage pail. What a crass, insensitive, and selfish approach to labeling clients. No client is fit for the garbage pail.

These are people made in God’s image and they should be given every courtesy. When someone new sees me for the first time, she is going to get three 90 minute meetings in which I will undertake a review of her financial life, give her my personal assessment of the problems and concerns in her portfolio, and then present our financial world view. That’s a minimum of 4.5 hours over a couple of weeks’ time and represents a considerable value. We do this with every client, every time. No matter the size of the potential account. It’s the right thing to do. There is no charge for this work, and there is no demand for a commitment.

What About Minimum Account Sizes?

Uh-uh. Some advisors require a minimum account size before they will agree to work with a client. We don’t. Practice growth consultants routinely suggest that advisors establish minimum account sizes in order to grow their practices to “the next level,” whatever that means. We have never done this. In addition to questions of morality, little clients become big ones, and little ones refer big ones. True, it can be inefficient for me personally to give the same amount of time to both small and large accounts throughout the life of the relationship, but they deserve it nonetheless. This is why I have trained, experienced, professional associate financial advisors in my office who can help me ensure that every client of the firm gets the full program when it comes to service.

We Spoil Them Rotten

We want each client to feel like a million bucks, like a celebrity, like family. We adore our clients, every one. They are solid gold. Each member of our staff warmly welcomes every guest and offers a refreshment. Our tenured clients have adapted to our culture of hospitality and know what to expect. But, new clients are sometimes timid, often distracted, and usually under some degree of stress. So, it is not surprising if they refuse offers of refreshments. We want every staff member to drop in on each guest, physically touch them, and offer them something soothing and comfortable to brighten their spirits. No alcohol, of course, but a fresh ground cup of StarBucks coffee, a hot savory cup of premium herbal tea, or an icy Diet Coke can go a long way toward making our guests feel welcome and at ease. Everything is served on our finest crystal and china. It may take 3 or 4 tries, but we eventually break down the walls and are allowed to serve. Our staff are trained to get up from their desks, greet each visitor, introduce themselves, and offer a beverage and a pastry or dessert item. We bake cookies, danishes, quiches, and muffins every day. And, not just once at the beginning of the day either. We bake something fresh for every guest, every visit. Whatever it is we are baking gets popped into the oven just a few minutes before the guest arrives so that what is delivered to their conference room is aromatic, steaming, and fresh. It’s nice to be loved. Love and celebrate them.