A Blueprint for Conducting “Re-Discovery” Meetings With Long-Time Clients

Here’s how most financial advisors conduct their “Review” meetings with clients after 3-5 years:

1) “Good to see you again. How is everything going?”

2) “How is life? How are the kids? Are you enjoying your travel? What’s changed since we last talked?”

3) “Ok, great. Well, we updated your plan and portfolio. Everything still looks good. You’re still on track.”

4) “What big plans or vacations do you have coming up this year?”

5) “Ok, great. Call me if you need anything.”

*Rinse and repeat once per year for the next 30 years*

And this auto-pilot approach to review meetings is a big reason why:

  • Most advisors have a client base full of “marginally-satisfied clients”
  • 90% of heirs leave once they inherit money
  • 70% of widows change advisors after their spouse’s death
  • Most clients say they’ll refer but never do

When done right, your meetings with long-time clients are an opportunity to:

  • Strengthen your trust and connection
  • Naturally display and reinforce your value
  • Help your clients live their best lives

You may call it a “Re-Discovery” meeting. You may call it a “Flourish” meeting. You may call it a “Progress” meeting.

Either way, Meghaan Lurtz has a blueprint on how to conduct these meetings that accomplishes all three. 

Things You’ll Learn

  • Why your clients “only want to talk about money”
  • How to avoid long-time clients getting the “7-year itch”
  • Questions to ask clients to help them live their best lives
  • The relationship building power of co-creating visions and goals
  • What the research says about whether small talk is helpful or harmful
  • How to keep clients from becoming disengaged (and the signs to look for)
  • A question to ask at the end of every meeting to improve the client experience
  • Examples of effective ways to set up a “Re-Discovery Meeting” with long-time clients
  • Why asking a prospect to “think it over” may actually be detrimental to the relationship
  • Reflection exercises to use with clients that reinforce the value of working with an advisor
  • Compelling research on why you should talk to clients about the relationships in their lives
  • “Fix, Fine Flourish:” A framework for consistently re-engaging clients and delivering ongoing value

Related: Can You Be Successful and Happy at the Same Time?