Kurt Zoeller is a financial advisor and Certified Wealth Strategist at his firm Zoeller Asset Management, based out of Chesterfield, Missouri. We had a chance to speak with Kurt over the phone and we asked him three questions that address what we feel are important facets of building a client base as a financial advisor. Below we discuss, cultivating existing client relationships, generating referrals from satisfied clients, and ways that you can spread the word about your practice.
How Do You Maintain the Satisfaction of Existing Clients?
Simply put, serving them is a priority. An important thing to remember is that clients will not care how much you know until they know how much you care. You have to cater your practice on serving them. At Zoeller Asset Management, serving clients is our priority. One way of doing this is by conducting regular strategic planning meetings with clients. Make sure that you are doing this at least annually and that you are providing them with your take on current market events. With the recent market volatility, we make it a point to establish our perspective on the recent developments in the markets. Market volatility is the first thing that we mention because we want our clients to understand that we are on top of things. I have been using Dunham’s Calm, Steady, and Common Sense marketing campaign daily with clients and I think it has worked well in providing them with a sense of reassurance that their finances are in good hands. In summary, make sure you are conducting regular strategic planning meetings, especially during times of market volatility, and be sure your communication with them is two-way. Communication is most effective when it is two-way because it allows you the opportunity to provide clients with tailored recommendations that are suitable to their needs.
How Do You Generate Referrals From Satisfied Clients?
It’s a lot more difficult in today’s world. Today, people are more guarded about giving referrals, which makes it more challenging. That’s why I like to call my referrals introductions. I think that calling them introductions sets you apart a little bit. I tell my clients that an important part of growing my practice is to be introduced to people that they care about. I ask them, “Is there anybody whom you care about that could use a second set of eyes on what they are doing? If so, I would be glad to help.” This allows me to plant that seed into the client’s mind on how important these introductions are to my business. As I mentioned before, in today’s world, there is a hesitancy that makes getting referrals a little bit harder. If I do get a referral, I always ask my clients if it is okay for me to give them a call or to send them an email. If you reach out to the referral, it allows you to make the contact and puts you in control of the situation.
What Are Some Other Ways That You Try to Grow Your Client Base?
I have never been a big networker, so I needed to try and do things a little differently. That is how I became involved with the Chesterfield Chamber of Commerce. By doing so, it helped me better target centers of influence and got me in front of attorneys and CPAs. This allowed me to educate more centers of influence on what I do. That way if they know people who need financial help, they know to come to me. As a member of the Chesterfield Chamber of Commerce, I have made a more concerted effort to be involved within the community. Earlier this year, I received the Volunteer of the Year award through my involvement with the Chamber of Commerce. Volunteering for local events is a great way to get your name out there within the community. In the past, I have volunteered for community events like the local 5K and 10K runs. Also, I’m involved in the Business Education Committee and a Leads Group with the Chamber. Again, this is all in an effort to get the word out on who I am and what I do and to make valuable contributions to my local community.
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