Rule number one is to understand your customer. If you know where they are at throughout their financial lives then you have a greater opportunity to be able to advise on their finances.
All the more reason to offer a broad range of advice and be able to advise on protection and other insurance-related products.
Clearly, you should be on top of when people are due to come to the end of their mortgage deal, so that you are contacting them beforehand to offer advice on next steps. However, it’s crucial to fill in those gaps in between, and this is where protection can be a door opener.
Younger people don’t tend to want to think about protecting their mortgages, but as they grow older and progress through life stages, protecting their family from financial hardship starts to take on greater importance.
Clearly, you have to strike the right balance between being helpful and stalking, but you should aim to be in touch with all clients once a quarter.
This could be an email newsletter, a quick personalised email even, something in the post or even a phone call. Good advisers even contact a client on their birthday.
If you’re really feeling brave then social media is a cost-effective and time-efficient way of reaching people that is unobtrusive and shows your human side. After all people do business with real people!
Whichever way works for you, find good reason in little hooks to keep in touch. If you lose that contact then the chances are you will not be the first person your client thinks of when he/she wants to do business – the business will walk out the door.
Terry McCutcheon is the CEO of The Finance Planning Group