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It’s a WAG’s life

As a certain footballer’s wife lay by her luxury hotel pool in Dubai it was reported that she was pondering over whether she should leave her philandering husband.  Many might ask what exactly was there to ponder about?

Being married to a man who has shown little regard for his wife’s feelings by apparently having multiple indiscretions would be enough to put most women off. But perhaps when your husband is a Premiership footballer there’s just too much to lose. Will the lifestyle, the money and the status be enough to see them living happily ever after? Or will we soon be reading about another high profile divorce?

This makes me think about the whole question of loyalty and trust. Are these two elements really paramount to the success of a relationship? Most people would probably agree that they are. And in business it’s not really any different. For advisers, investing time and effort with existing clients could reap dividends in the long term. And will be considerably less expensive than searching for new ones.

A loyal customer is critical to the success of any business and is key to enhancing profitability. Keeping in touch with clients that are already on the books provides a fantastic foundation on which to grow the business. If a person’s circumstances have changed since they last met with their adviser they may well benefit from a review of their finances. Getting married, moving house or having a baby could all render an existing protection policy unsuitable. By inviting clients for a review, they’ll be reminded of the value of their IFA’s advice and the importance of getting their finances in order.

Once a loyal relationship has been built up, clients will be far more likely to stick with a person they know and trust rather than go to the effort of looking elsewhere.  They’ll also be more willing to buy additional services and to refer family and friends. Most people would much rather do business with someone who had been recommended by a friend or colleague, than trawl through the Yellow Pages or go online.

The final whistle may or may not have been blown on one footballer’s marriage. But for IFAs looking to invest a little more time and effort with their existing clients, this could be the start of a long, happy and prosperous relationship.

Roger Edwards is proposition director at Bright Grey

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. Proposition Director? Seems an appropriate future job for Mr Terry.

  2. I agree 100%. it is far easier to keep and service your existing clients, than to start from scratch. It is also easier to find new contacts through referals from existing clients than trying to go in cold.

    Remember what your mummy told you.

    ‘DONT TALK TO STRANGERS’

    She knows best.

    Jack Morris
    Corporate Consultants

  3. Yes I always have to be careful how I spell my title!

  4. People who have made a claim and been treated well are the most trusting of all because they have seen the policy in action. Surviving claimants and beneficiaries are often neglected once the claim has been paid but they have family and social networks and with a bit of attention, can become willing advocates for the brand.

  5. Add Marital Fidelty insurance to your menu product Roger That would differentiate yours from Protection Account, Progress et al!
    Concur wholeheartedly with sentiments in the article as well…

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