Changes for More Productive Client Review Meetings

Client review meetings are usually all about the numbers. You bring out the reports and you discuss performance with your clients. Then you talk about improving that performance. While this is the norm, it’s not the most productive method. Client meetings shouldn’t just be information sessions. They’re a chance for you to sync up with your client and have a real discussion. The key to more productive meetings is structure. The way you frame your conversations can change everything.  

Talk goals

Think about the last time you talked to your client about their financial goals. If it’s been a while, client review meetings are the perfect time to bring it up. Their goals will likely change over time, so it’s important that you create the space for them to discuss any life changes. You should consider those life changes as you further discuss their goals. This is a great way to begin restructuring your sessions. Don’t stop at discussion, take notes about their goals and encourage them to do the same. Those notes will make the planning portion of your meeting easier. They also provide context for the numbers you’ll review with them.  

Discuss the numbers

Restructuring your meetings doesn’t mean that reporting and numbers get tossed aside. The numbers matter, and they’re more useful when you discuss them in relation to the client’s goals. Placing the numbers in the context of their goals can help those who aren’t super savvy about finances. Creating benchmarks is also useful because it allows for comparison. If their current portfolio isn’t meeting those benchmarks you can discuss why that’s the case and how to fix it. This should move you into the planning and adjustment portion of your meeting.

Make adjustments

Now that you and the client understand their updated goals, you can discuss the details. The first thing to discuss is feasibility. Let the client know if their goals aren’t aligned with their current situation and what they can do to correct it. From there you can set the adjustments in motion. You may need to rebalance their portfolio, or they may need to start saving more aggressively. No matter who needs to make the adjustments it’s important that you’re clear on them before your meeting ends. 

Client review meetings are necessary for healthy client relationships. By changing a few things, you can ensure that those meetings are more productive. 

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