By the time a client tells you they're leaving, you've already lost. We needed to hear about problems earlier.
The problem
Richard's practice managed a few hundred client relationships with a small team of three advisors, which meant proactively checking in with every single household before their annual review just wasn't realistic. A few clients had left over the past couple years citing concerns that, in hindsight, could have been addressed months earlier if anyone had asked.
What changed
He started running a proactive check in call to every client household about six weeks ahead of their annual review, asking simple questions about satisfaction and any changes in their situation, and flagging anything that sounded like a concern for an advisor to follow up on personally.
The result
Richard said the calls surfaced two accounts in the first quarter that were quietly unhappy about communication frequency, something he never would have known otherwise. Both accounts stayed after a personal follow up call from their advisor, together representing a meaningful chunk of the firm's annual revenue.
By the time a client tells you they're leaving, you've already lost. We needed to hear about problems earlier.
See what this looks like for your business
Fifteen minutes is enough to show you a real call, start to finish.
