Danny Bradbury, Investment ExecutiveNovember 03, 2008Forging and maintaining strong relationships with clients is the cornerstone of every advisor’s business. But during times of volatile markets and economic uncertainty, keeping track of the method and frequency of your communications with clients is more important than ever. And keeping tabs on the prospects you hope to convert to clients is crucial to your future, too.

The days when a contact book and an Excel spreadsheet for tracking clients would suffice are long gone. Today, technology can help you serve your clients and prospects more effectively while keeping track of every phone call, e-mail and personal meeting. Several sales and marketing and customer relationship management tools exist to help you deal with these challenges.

The more clients you have on your books, the harder it is for you to keep track of them and remember each one’s preferences. This client doesn’t want you calling him at work, while that client doesn’t like you calling her at all and will only deal with e-mail, unless it’s an emergency. But Bob, whom you signed this past summer, wants to speak to you at least once a week. Unfortunately, Bob also resides near the bottom of your roster in terms of account value.

Understanding when and how each of these clients are to be contacted — and, in some cases, placated — will help you manage your time and concentrate on ripe accounts that can generate more revenue.

Karen Maguire, Satuit’s CEO is featured in this article.
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