How Financial Advisers Get Clients to Take Action –

It was great to find my quote published this morning.  —- J. David Lewis

 How Financial Advisers Get Clients to Take Action – by Jaime Levy Pessin

“Writing It Down

David Lewis, president of Resource Advisory Services, a money-management firm in Knoxville, Tenn., has taken the opposite approach—he has eliminated regular meetings with clients.

Mr. Lewis says he initially built his practice by working with doctors, who “legitimately didnt have time to set aside for meetings unless we really had something significant to discuss.” Eventually, he realized that instead of quarterly meetings, he could write a “net-worth letter” explaining the changes in a clients account. Mr. Lewis staggers the reports, so he doesnt have to write to all his clients at once; when a clients report is coming up, his office emails the client to see if theres anything specific he or she would like addressed.”

I can be much more thoughtful, much more thorough [in writing] than if the issue comes up and I have to talk about it,” he says.

If clients have a question stemming from or unrelated to their quarterly letter, they are encouraged to call and either discuss it on the phone or come in for a meeting, Mr. Lewis says. Letting the clients come in on their own terms makes for more productive meetings, he says.

Mr. Lewis is a planner who has discretion over his clients……”

Read the article via How Financial Advisers Get Clients to Take Action –

Recommended Posts