Best Practices in Client Relationship Management

| April 16, 2012 | 0 Comments

ASPPA News from the Field
2012 ASPPA 401(k) SUMMIT

NEW ORLEANS (March 19, 2011)—The American Society of Pension Professionals and Actuaries (ASPPA) held its annual 401(k) Summit at the Ernest N. Morial Convention Center on March 18-20. Two advisors who run successful practices took to the stage Monday afternoon to discuss the best ways to serve our clients and shape positive outcomes for both the company and the employees.

“If you want your clients well taken care of, you need to hire the right internal people who are passionate about taking care of plans and participants,” Chad Larsen of Moreton Retirement Partners shared with a packed room when asked what the key was to his team’s success.

Vince Morris, president of Bukaty Companies, shared with the attendees, “the most important meeting we will have with our clients is the first one (post sale).” Not only are they able to educate the client on how they will run each meeting and the Bukaty process, but that the first meeting really needs to validate the clients decision to go with their team.

Both Vince and Chad take a team approach to running their businesses and supporting their clients, but have a slightly different method when introducing the team and transitioning the client to them. Chad will take three people to the initial client meeting and use the meeting as a “hand off” to take the client from the sales process into an ongoing support environment. “The key is to introduce the team members and their roles, and then set the proper expectations with the client on what their experience will be like going forward,” Chad shared. Vince said that “I simply try to get out of the way of my team and really position the Client Relationship Manager as the go to person for the client going forward.”

Both advisors have a very structured process in their client meetings, and believe that is the key to ensure a repeatable process for each client when you have multiple advisors and support people engaging with clients. Vince uses a similar agenda at each meeting, starting each one with a Bukaty Accolade or a little something about us. From there Vince and his team will review the minutes from their last meeting, provide an economic commentary and then review of their investments.

Chad shared that his process is to focus on a different topic in each meeting; for example, investments, employee metrics/participant data or fees. Moreton Retirement Partners also conducts participant education meetings for their clients, which they schedule as soon as possible after that initial transitional meeting.

Both Vince and Chad have multiple client appreciation events each year and believe that these events really help to solidify their client relationships and keep their clients engaged. Chad will actually do educational events, a Fiduciary Training day for committee members, and a Retirement Boot Camp. This is a half-day session, in which they bring their clients into their offices and provide them with retirement plan training and education.

-Adam Sokolic, Senior Vice President, Retirement Partners
LPL Financial
NAPA Founding Member
ASPPA Member Since 2011


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