Are your clients thinking about leaving you?

Keep clients from leaving published the results of a shocking survey conducted by YCharts in February 2024. The survey indicated more than half of advisory clients either left their financial advisor or considered leaving their advisor in 2023.

In fact, they were so shocked by the results that they conducted the survey a second time and confirmed the original results.

Regular Communication Holds the Key to Retention

There’s a lot to be gleaned from the survey, but one area that stands out above all else is the desire clients have to communicate with their advisors on a regular basis.

The YCharts survey found, “Eight in 10 clients would like to hear from their advisor at least four times a year, while only 63% do. Half of that contingent would prefer monthly outreach, compared with 28% that are getting it. Illustrating this point, two-thirds said they take the initiative and contact their advisor at least every two or three months, with 34% reaching out monthly or more.”

The report went on to state, “Communication holds the key to retention and referrals.”

Advisors Just Don’t Have the Time

Sure, you would like to communicate more with your clients, but you simply don’t have the time. In a recent study by J.D. Powers, 28% percent of advisors claimed they did not have the time to meet more often with clients and they blamed compliance and administrative tasks as two of the main reasons.

Automation is the Solution to Reducing Administrative Tasks

GReminders’ Client Automations offers advisors and their assistants the ability to free themselves from time consuming activities. Think about it: if you saved just 5 extra hours each week (and many of our users indicate at least twice that much), you would easily have time for an additional 100 client meetings or more during the year. Meetings where you can uncover additional assets, discover upcoming life events, and keep clients happy.

How GReminders Client Automations Work

GReminders is the only scheduling application that syncs directly with Redtail, Wealthbox, and Salesforce. This direct integration allows you to automate routine communications between you and your client, while keeping it personal. In fact, GReminders even uses your client’s nickname in our automations, if you’ve included one in your CRM.

You can use our Client Automations for simple tasks like birthday or anniversary wishes or time consuming tasks such as quarterly, semi-annual or annual review scheduling.

You have complete flexibility when it comes to how often clients can schedule. You even have the flexibility to offer different options based on client tier or other criteria indicated in your CRM.

Client automation built into GReminders even allows you to ask your clients what they wish to focus on during their meetings and can include their concerns as part of their reminder messages.

Set up and Forget

Once you set up an ongoing automation, it is triggered every time a client matches the criteria you’ve included in the automation template. If you’re asking clients to schedule a meeting, our system will track the status and send additional notifications until a meeting is scheduled.

You work hard for your clients and when a client leaves you for another firm, you don’t typically learn the reason why until it’s too late.

GReminders can help you plug holes in your ongoing client communications and get more client meetings on your calendar. While you may be communicating with your top tier clients regularly, we make it extremely easy to stay in touch with ALL of your clients on a regular basis.

Learn how to set up Bulk Send Client Automations Here.

If you have any questions, reach out to us Here.

Happy Scheduling!

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