Sophisticated Sales With the Old-Fashioned Touch Broker World (05/01) Vol. 21, No. 5 p.60; Kenney, Patrick J.
Financial advisor Patrick J. Kenney of Wilcox Financial
recommends that planners return to the "old-fashioned" planning strategy
of getting to know your client when dealing with employer-sponsored
retirement plans. At the heart of the system is staying in touch with
clients after the initial meeting. This may require sending birthday
greetings or forwarding the latest material to keep them abreast of what
is taking place in the market. Although time-consuming, these tactics
will not go unnoticed by the client, Kenney assures. By working within
this system, Kenney says planners will have developed a long-term
rapport with their clients, so that when the time comes for planning
milestones such as retirement, rollover, or anything else, the client
will automatically consult their planner. He adds that the payoff for
such a "high-touch" style is continuous as well because the client may
refer their planner to one or more people along the way.