In my list of 12 “Thomas’ Truths,” I advise financial advisors to be the “organizer” for their clients. Not only will this help you manage their services more effectively, but also help your clients become more organized in their financial life.
In my office, our clients are presented with a “financial organizer” within six months of their initial purchase. This “organizer” is a sturdy binder that contains tabs separated by our company’s mission statement, contact information, as well as policies and product descriptions of their purchases. In addition, we add a tab for out-of-house accounts that may be covered by our clients’ banks or brokerage firms. Using the binder, our clients can easily place account statements, letters and bills under the appropriate tabs.
After a year, we review the filled binders and educate ourselves on their financial life throughout the year. We highlight our work and compare it to other businesses who handle other accounts. Generally, we are asked to handle all of our client’s investment and insurance needs after they recognize our services in the binder. Having an organizer that explains our services has proven to be much better than discussing them in person.
