The importance of client outreach during the holiday season

December 19, 2018 by Kelton Corcoran

About the author

Kelton Corcoran

Senior content marketing specialist

Kelton Corcoran is a senior content marketing specialist at Advicent, the financial planning technology provider of choice for nearly 100,000 financial professionals.

With the holiday season underway and the end of the year just around the corner, advisors are likely growing busy with time-sensitive tasks such as year-end tax planning. While this is a great time to serve last-minute client needs to close out the year strong, do not forget about the importance of client outreach during this time of the year.

Referrals are crucial

It is no secret that clients often find their financial professional from someone they trust. In Capgemini’s 2018 World Wealth Report, it was found that 44.4 percent of high-net-worth clients find their wealth manager through a referral from a friend or colleague. Further, an InvestmentNews study found that each year, 50 percent of a typical advisory firm’s new revenue is brought in from referrals alone.

Perfect timing

Thankfully, this season presents a perfect opportunity for advisors to position themselves to gain both referrals and additional business from their current clients. The holidays are conducive for gatherings of family, friends, and colleagues where conversation could certainly touch on finances. Perhaps your clients are discussing their retirement dreams or maybe asking for advice on how to save for their newborn’s education.

Even if these discussions do not explicitly take place in your clients’ casual holiday encounters, the start of a new year is a popular time for people to reassess their financial goals. They may have a New Year’s resolution to start saving for a new home or another large purchase. Whatever their aspirations are, advisors need to be sure that clients know that they are available to help.

Reaching out

If you have not already sent out a holiday card or letter, there is still time to put one together for your clients. While it is a nice touch to show appreciation for your clients, it can also be a helpful reminder of your firm. Include some business cards so clients have your most up-to-date contact information in the event of them reassessing their goals for 2019 and be sure to include more than one so they can pass it along for potential referrals.

Additionally, think of this mailer as an opportunity to get clients interested in where your firm is headed in 2019. Maybe your firm hopes to debut a new website or launch a blog to share helpful financial tips. If this is something you are considering, check out Twenty Over Ten’s robust platform for advisors to build custom websites and blogs.

To learn how a financial planning and wealth management firm increased revenue, reduced expenses, and nearly doubled conversion rates using NaviPlan®click here.