Greensboro: “What strategies do you have for engaging the children of my clients?” asked Susan on a recent conference call. She continued with, “They’re getting older and many of them would make good clients.” It’s a great question, but generational planning done right is a larger strategy than simply meeting your clients’ children who are currently affluent. It’s a process that starts when the children are young.
We’re talking about client for life type of service. You’re making the case to clients (and their children), that you want to be involved in their financial life. For clients with young children, this involves helping with their financial literacy. For clients with adult children, this involves meeting regarding estate issues and any financial needs they might have.
Meeting your clients’ families should be top of mind, regardless of their children’s ages. It truly showcases the comprehensive nature of your services. Not to mention, they are potential clients, if not now, then in the future. Who is the next client you’ll see this week? What could you ask them about their family?
We thought it might be helpful to share some thoughts we’ve gathered from Elite Advisors on methods for engaging clients’ kids, from baby until adulthood.
Stephen Boswell and Kevin Nichols are thought-leaders and coaches with The Oechsli Institute, a firm that does ongoing research and coaching for nearly every major financial services firm in the US. To take the first step towards coaching, complete the pre-coaching business profile for a complimentary consultation.Start slideshow