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January was full of ups and downs as investors rode a wave of uncertainty. The month began with many of the benchmark indexes listed here losing value (except for the Nasdaq) only to surge ahead during the middle of the month. However, fears that a widespread outbreak of the coronavirus would impact global economic growth pushed investors away from stocks, which lost significant value by the end of the month.

By the close of trading on the last day of January, only the tech-heavy Nasdaq gained value, as each of the remaining benchmark indexes listed here fell, led by the small caps of the Russell 2000, which plummeted by more than 3.25%. The Global Dow dropped 2.75%, followed by the Dow and the S&P 500. Unfortunately, the momentum enjoyed in December didn’t carry over to January for stock investors.

did you know?

In a recent survey of data gathered by Vanguard, the top factors investors value in a financial advisor, each ranking as higher priorities than investment performance, include:

  • Provides transparency in interactions (62%)
  • Provides prompt follow-up on requests (55%)
  • Takes the time to understand needs, goals, and risk tolerance (55%)

Listen in as Dan Baccarini, Managing Director with Beacon Capital Management, has a conversation with nationally recognized speaker Maria Quinn from Vanguard Financial Advisor Services to discuss “What Clients Want…a Window into the Mind of the Client.”

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7 Steps to Turn Clients into Raving Fans

The biggest secret to sustainable business growth? Turning customers into loyal fans. This shift of mindset and priorities can help you break free from the never-ending hamster wheel of prospecting by refocusing that energy on retaining your existing client relationships. Even the most minor improvements in these retention efforts can have a profound, exponential impact on your business satisfaction and bottom line.

Understand that not everyone will be a fit 

The first step to building a rewarding business full of fans is to know where to focus your time and resources. No one can or should be all things to all people. In a past issue, we explored the philosophy of “customer centricity,” including criteria beyond just net worth to identify your best clients. With that in mind, use these seven tips to turn your ideal clients into a legion of raving fans!

1. Create a “wow” experience 

Every interaction creates an impression on your clients, from how you answer the phones to the experience in your lobby. Be intentional to “wow” your clients by consistently finding ways to make them more comfortable by coming across as friendly, relatable, professional, competent and empathetic. For more on this topic, read our past article “Specialization and Wow!”

2. Responsiveness

Know that clients are evaluating their advisor’s performance more than their portfolios’. From personality, reputation and trust to service and timely communication, aim to return calls within two hours and know that most people want a response from the person they contacted (not an assistant).

3. Proactive communications

There is not a one-size-fits-all formula for effectively communicating with your clients. Make it a part of your onboarding process to determine preferences for type and frequency of communications (email, phone, in person). Then, deliver a step above their expectations to provide proactive, meaningful value without becoming annoying.

4. Life integration

Beyond just discussing products and services, know where your clients are today, where they want to go in the future and their plans for legacy. What are their hopes, dreams and ambitions? What do they want and need their money to do for them? Your services should critically address and integrate into each of these areas as well as incorporate all the key people involved in a meaningful way.

5. Get social

Facebook and LinkedIn are tremendous tools to achieve this life integration when used as a listening tool, rather than just platforms to push information. From identifying the addition of a new pet or grandchild to a new job promotion or transfer, reach out to your clients with a thoughtful, personal gesture to acknowledge these life milestones.

6. Above and beyond

Always look for new ways to go “above and beyond” for your clients. We have an advisor with clients all over the country who actually invite him to stay in their homes overnight when he travels for their reviews! This level of friendship creates not only long-term raving fans of his business but also a deeper, personal understanding of their lives for him to continue to deliver the best service possible.

7. Track Everything

If you do not have a Customer Relationship Management (CRM) system, you are at a distinct disadvantage. Redtail being the most common in our industry, this tool should not only track critical contact and financial data but also include all of the distinct personal preferences you gather from your interactions. From alma mater to favorite drink, the more you know (and remember!), the more opportunities you have to deliver a “wow” personal experience that your clients will remember and likely share with others.

Recommended Reading Resources

For more on these fan-building techniques, check out these great reads for more insight:

  • The Ultimate Question 2.0 by Fred Reichheld
  • Customer Satisfaction Is Worthless, Customer Loyalty is Priceless: How to Make Customers Love You Keep Them Coming Back and Tell Everyone They Know by Jeffrey Gitomer
  • Raving Fans: A Revolutionary Approach to Customer Service by Ken Blanchard
  • Customer Centricity: Focus on the Right Customers for Strategic Advantage by Peter Fader
  • Swim with the Sharks Without Being Eaten Alive: Outsell, Outmanage, Outmotivate, and Outnegotiate Your Competition by Harvey Mackay.

For additional practice management resources to grow your business, contact your wholesaler to discuss how we can be of help!

beacon news

“Are you worried about the economic effects of the coronavirus spreading to your portfolio? During our headlines segment, we’ll ring up Chris Cook, president of Beacon Capital Management, and get some answers on what you can do to inoculate your investment strategy.”

Stacking Benjamins Podcast

Be sure to visit Beacon’s News & Press page for the latest credibility pieces to share with your clients and prospects, and follow Beacon on LinkedIn for the latest updates as they happen.


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For Advisor Use Only, Not to Be Used With Clients

The GIPS Compliant Presentations for our Vantage portfolios can be obtained by clicking on the link below.  If you would like the Compliant Presentations to be emailed directly via PDF file or if you would like to receive a copy of Beacon’s Composite Descriptions; please respond to this email or contact Beacon at 937-439-9093.

BCM 2018 Compliant Presentations

Beacon Capital Management, Inc. is a registered investment adviser with the Securities and Exchange Commission. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Past performance is not indicative of future performance.

Additional information about Beacon Capital Management is also available on the SEC’s website at under CRD number 120641. Beacon Capital Management only transacts business in states where it is properly registered, notice filed, or excluded or exempted from registration or notice filing requirements.

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Beacon Capital Management

7777 Washington Village Drive, Suite 280, Dayton, OH 45459

P: 866.439.9093 | F: 937.424.4825