Payne's Blog

Nigel Payne is the managing director of Assurant Intermediary which specialises in delivering a range of general insurance products to the broker and intermediary market.

With over 20 years experience of the mortgage industry including senior roles at BM Solutions and TMB, Nigel is a well-known figure within the industry. A regular contributor to the financial trade press, he is also the general insurance and protection guru on the Marketing Innovation Forum

A Client Bank or a Contact List

26 July 2010

Many advisers do a great job for their clients and rightly consider that they have provided a practical solution for their clients' financial needs.

However, time and again I encounter too many advisers who seem to think that the advice they have provided doesn't have a "best before date.

An adviser's client bank is a critical part of their business, but all too often it seems to be a forgotten asset. Do you have a client bank that you serve year in and year out, or is it simply a list of contacts to whom at some point you sold a product?

How many of you consistently revisit each client's needs annually? Their needs are more than likely to change over the course of a year and the advice you gave 12, 24 or even 36 months ago may well have passed its 'best before date.' If you don't review their needs with them, someone else will.

There are advisers who don't contact their clients regularly because they don't see a need after selling them everything they could two years ago. Well, a lot can happen in two years.

A simple letter or call from you to your clients saying you need to see them urgently to review their finances because the market has changed will fill your diary for weeks to come and unlock the door to generating more income.

Imagine if your accountant asked to see you urgently regarding some new information which could be beneficial to your business. How would you react? Chances are you would phone them up straight away to make an appointment.

Your clients might have the same reaction if they view you as their trusted financial advisor. So go ahead - write some urgent letters or emails and fill your diary with hot prospects!

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Payne's Blogs

No PPI from Lloyds - so what?
17 August 2010

A Client Bank or a Contact List
26 July 2010

Over communication? I think not
20 July 2010

Out of the woods? Not until 2012
14 June 2010

Hung up on Compromise?
20 May 2010

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