CHAPTER 15

Client Retention

RETENTION OF CLIENTS IS MUCH MORE THAN JUST KEEPING CLIENTS; it should be developing loyal clients. Having loyal clients can be the most important acquisition and growth strategy you can engage in. My definition of “loyal clients” includes those individuals who are “raving fans” of their financial advisor. These loyal clients experience a high level of satisfaction and are then interested in giving their advisors all their business, all their assets, and referrals for new clients, as well as their long-term loyalty.

The objective for any financial advisor who wants to reach the million-dollar level is to have as many loyal clients as possible. Based on my experience and research there are seven important factors that ...

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