The most important thing to do to retain clients is to communicate with them. The trust and respect that your clients will have for you is immeasurable, if you keep them in the loop with where the business is currently, and where it is headed.

When you communicate with your clients this will help them understand the changes that are taking place and why you are deciding to make these changes. You can normally communicate with your clients via various means for example: via telephone, a meeting (face-to-face or Zoom / Teams) or a letter and we recommend doing this with them as soon as you find it appropriate, to avoid any confusion and rumours that may spread amongst clients.

The key is to identify the perfect time to tell clients. If you jump the gun and tell clients prematurely you will make them nervous, which will allow them time to shop around for another Financial Advisor. On the other hand, if you tell the clients too late, they may feel you have not been completely honest with them. In our opinion, at Exchange of Contracts is often a good time to start communicating with key stakeholders in your business. If you don’t communicate with your clients, the negative impact this could have is detrimental to their future as a customer and fairly irreversible as the damage is usually already done.

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