Most of the time, financial advisors have inertia on their side.
In general, people resist change for its own sake, and clients aren’t actively looking to leave their advisor — unless their advisor gives them a reason to look elsewhere.
So it might not seem like there is much to worry about. But consider the time, effort and investment that goes into prospecting and marketing for new financial advisor clients. Prospect inquiries are down significantly since the start of the pandemic, and in-person marketing and outreach is complicated by potential public health risks.1
And when you consider the value of referrals from satisfied clients, it’s easy to see why it’s more important than ever to nurture the client relationships you already have today, and show those clients the ways you make a difference in their lives.Read More