Wealth Matters CEO Rosemary Denney was featured in Wealth Solutions Report discussing growth-by-M+A communications. The article discusses how wealth advisors can mitigate client attrition during mergers and acquisitions (M&A) through effective communication. During such changes, clients may feel uncertain about the firm’s commitment to their needs, which can lead to dissatisfaction and a desire to switch advisors. However, client attrition is not inevitable if advisors take proactive steps.
Key strategies include:
- Personalized Communication: Instead of mass emails, advisors should directly reach out to clients to reassure them and address concerns, reinforcing trust in the relationship.
- Preparation: Advisors should categorize clients based on satisfaction levels and prioritize personal outreach to those more likely to feel uneasy about the change. They should also create a clear and consistent narrative and develop FAQs to address common concerns.
- Engagement Methods: Advisors should follow up after initial notifications with personal notes or direct meetings. Hosting small events or webinars can also help explain the changes and maintain open dialogue.
- Ongoing Communication: Even after the deal closes, continuous engagement is crucial to maintaining stability and trust. Advisors should use M&A discussions to review clients’ financial strategies and demonstrate the benefits of the merger.
By focusing on personalized, consistent communication, advisors can not only retain clients but also strengthen their relationships post-M&A.
Read the full article below: