A Great time for Business

[padthaiforlunch]

Got an e-mail yesterday for a webinar on how to keep your AUM from running out the door. Lead me to this article. A little old now, but I'm sure even more relevant.

According to a new survey from Prince & Assoc., 81 percent of investors with $1 million or more in investible assets plan to take money away from their current advisor. An even larger number - 86% - plans to tell other investors to avoid their advisor. Only 2% plan to recommend their firm to other investors. That’s of critical importance, since wealthy investors often get investment advice from each other.The irritation is especially high at the “brand” firms - large brokerages and banks. Fully 90% of clients of brand firms plan to take money away from their advisor and 70% plan to leave the advisor altogether. That compares with a mere 29% for the boutique, local advisory firms.

 

[ChrisMiller]

Thanks so much for the link to this article! Retaining clients is based on relationship marketing.

I find that most of my new business comes from Agents who are tired of not getting real help from the marketers they are currently working with and in turn, the most successful agents that I work with are the ones that actually care about their clients.

I agree with the article in the fact that sometimes clients are just looking to blame someone if they have lost money--that is something that is unfortunate and unavoidable.

Overall, good customer service, from the Agent side and from my side combined helps retain clients and get the best leads ever...referrals!

Again, thanks for the link!

Chris