191: Do’s and Don'ts of Helping Your Clients Break Up with a Previous Advisor

The Efficient Advisor: Tactical Business Advice for Financial Planners

One of the hardest roles advisors face is helping a potential client “break up” with their previous advisor. It can get awkward, dicey, and downright weird. 🥴 But you can turn this tricky situation into a peaceful process for your clients and make a GREAT first impression if you do it well!

In today’s episode, Libby shares some tips for this break up process that worked well in her advisory practice, including:

• Choosing your words carefully—language matters
• What to do before you even move money—help reduce retention risk
• Providing them helpful language—eliminate hard feelings when they break up with their advisor
• And much more!

Tune in now to learn some tricks on keeping it classy when engaging with potential clients. Your business…and clients…will thank you! 🙏

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1. Breaking Up With Previous Advisors (00:00:00)

2. Client Relationship Building Strategies (00:03:53)

3. [Ad] School of Podcasting -Launch, Grow, Monetize Your Podcast (00:14:04)

4. (Cont.) Client Relationship Building Strategies (00:14:05)

5. Navigating Client Relationships With Previous Advisors (00:14:20)

6. Invitation to Affordable September Conference (00:23:13)