Building Client Loyalty

Build Client Loyalty Loyalty is a two-way street. If you feel your clients owe you their loyalty because you do a good job for them, you’re heading in the wrong direction. If you understand that you have to earn loyalty by providing more than positive investment returns, you’re on the right track.

Many advisors measure loyalty by the amount of client assets they manage. But studies show that High Net-Worth (HNW) clients tend to spread their investments around, and chances are you’re not managing the lion’s share of their holdings.  The more services you offer, the better your chances of winning those assets over and with them, increased client loyalty.

Start by making sure that your clients are a good fit for your business.  Loyal clients are those who place their trust in you. Chances are, you’re not making the necessary effort to establish that kind of bond with clients who don’t really interest you. If you haven’t yet identified your “ideal” client, then, this may be a good time to do so.  Compatibility is an excellent entry to building a relationship that culminates in mutual commitment. If that means cleaning house, so be it.

Given the present distrust of Wall Street and big investment banks whose misdeeds make headlines, it’s hardly surprising that today’s clients crave a more personal relationship with the independent financial advisor they entrust with their investments. Because it takes more than newsletters, portfolio reviews and occasional phone calls to create such a relationship, this could mean changing the way you do business.  What researchers refer to as relationship marketing may require:

  • Demonstrating your commitment to clients and passion for your work;
  • Making time for social as well as business contact;
  • Using those contacts to deepen the personal side of your relationship;
  • Meeting clients’ needs holistically by adding tax and estate planning—through strategic alliances if needed.

Like a doctor, you may be providing all the professional advice your clients need. To earn their loyalty, you just might have to improve your ‘bedside manner.’

For more information on Summit Brokerage Services, an independent broker-dealer, visit or contact us at (800) 354-5528.

This blog and website are for informational, educational and discussion purposes only. Summit Brokerage Services, Inc., Summit Financial Group Inc., and any of its affiliates are not a law firm or an accounting firm. Even though topics may be discussed on this blog that may involve legal, accounting, or investment issues, nothing on this blog shall be deemed to constitute the practice of law, legal advice, investment advice, and/or tax advice. You should consult an experienced professional regarding tax consequences of specific transactions.
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