As a financial advisor, you understand how important it is to keep clients. According to the Gartner Group, 80% of your future profits are generated by 20% of your existing clients. But  keeping clients is not as easy as it sounds. Improving customer retention takes a little bit of strategy and a lot of creativity. Below, we have three ideas that can help you keep your clients with you for the long haul.

Create a Financial Plan

One way to retain clients is through financial planning. According to a Spectrem Group study, clients that had discussed a financial plan with their advisor were more satisfied with their advisor compared to those that did not. Furthermore, clients that had their financial plan reviewed twice a year were slightly more satisfied compared to clients that had their financial plan reviewed only once a year. Keeping this in mind, you should not only create a financial plan with your clients, you should also plan to review it with them at least twice a year to ensure that you’re meeting their needs. 

Offer Holistic Advisory Services

Offering holistic advisory services is another way for financial advisors to increase their client retention rate. Consider adapting your advisory services to accommodate your clients goals in all aspects of life (not just investing for the future). For example, instead of only offering investment advisory services, financial advisors can also help their clients with estate planning or taxes. According to SecureTheFile, this can help increase client retention rates because it not only improves client-advisor relationships, but it also ensures that clients are paying the right price for your services.

Keep in Touch

Keeping in touch with your clients is important because it shows them that you care and helps build a more meaningful connection. It also helps you stay top of mind throughout the year. In fact, a Spectrem Group study shows that the reason why 53% of millionaire investors leave their financial advisors is that their advisors do not proactively reach out.  Getting creative with your customer touchpoints is important to make you stand out in your industry. Client events, email newsletters, and meaningful gifts that communicate your business’ core values are all ways that you can show your clients appreciation, keep them updated on your business, and keep them connected with your brand.


If you are interested in creating a customized gift for your clients, reach out to Gift Better Co. at custom@giftbetter.co to help you create perfect gifts that give back for your clients.  

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