How Properly Protecting Clients Helps You Win Their Loyalty

This article was generously provided by Véronique Caty, Business Development Consultant, Financial Horizons Group, Quebec Region.



In today’s world of cutting-edge technology, anyone can access a wealth of information with a simple click of a button. As a result, insurance premium costs are very easy to find! However, beyond the cost of a premium, a Financial Security Advisor can and must easily demonstrate the value of many other benefits, which leads to client loyalty.


The key to success lies in helping the client see the big picture (past, present and future) and in asking them questions to understand what is important to them, here and now. In short, to show an interest in them! In addition to improving and developing your client relationship, you will bring to light their personal, family and professional goals. Then, you provide them with a well thought-out, personalized plan that will deliver on their goals. This allows the clients to feel that you have listened to them and analyzed their responses, which means they will be more open to your recommendations and advice. You will have gained their trust, which is the foundation of your advisor-client relationship.


Business Relationships: It’s All About Trust

Relationships are critical for Financial Security Advisors. To establish and maintain this relationship, an advisor might, for example, keep a log of clients’ birthdays, trips they enjoy taking, or their favourite restaurants. When clients see that you are genuinely listening to them, they realize that you are there to guide and protect their capital.


Nurturing a Business Relationship: Meeting More Than Just One Financial Needs

The start of a business relationship is often due to a particular need, but it is important to gradually show your clients all of the other needs you can help them with. It’s important to look at the big picture! That’s why a good financial needs analysis is crucial. It helps bring to light the risks, often of a financial nature, in relation to the client’s goals. Would it be wise for the client to cover his/her debts? How could the client ensure a good quality of life for his/her loved ones in the event of death or a cancer diagnosis? Has the client started thinking about retirement and how to plan for it? Does his/her business have a succession plan? What would happen if the client’s child were diagnosed with a critical illness? It’s important to educate clients that they not only need to consider their living expenses, but also their income and/or debt, critical illness and supplemental insurance for themselves and for their family members! All, of course, while staying within their budget. Above all, it is important to review on a regular basis with the client whether his/her goals have changed. This will allow for the established plan to be adjusted through closely monitored and regular follow-up, which is just as important as the initial plan.


Benefits of a Strong Business Relationship

When relationships are well-developed and trust is established, it is easier to maintain them, and clients trust you with their investments, for example, and ask you for advice on retirement or other financial strategies. Additionally, the more you can help your clients in other financial areas, broadening your service offering, the more they will be in contact with you and be able to measure the value and scope of your knowledge and expertise in these areas. You will eliminate the competition and provide your clients with an undeniable increased value! At Financial Horizons Group, we create connections and business partnerships so that you can provide your client base with a vast service offering. We can also help you with travel insurance, group insurance and mortgage brokers. We can even provide you with support if you need a more in-depth analysis requiring the services of a Financial Planner.


Quality After-Sale Service and Accessible Language

The final aspect in your client relationship, which mustn’t be overlooked, is to ensure quality after-sale service. Be sure to use simple, easily understandable language at all times with the client and to explain things over again, as required, to ensure the client understands. Clients want to feel important and understood, and also want to be sure that they understand you too!


These are really good client services business practices for Financial Security Advisors. Would you like to stand out? To shine based on your knowledge and skills? To protect, support and gain the loyalty of your clients? To show them that you genuinely want to help them reach their goals? Start implementing these business practices today!