Lifecycle of Advice: Converting Prospects to Lifelong Clients

Successful advisors are able to balance and address client needs throughout the lifecycle of advice: from attracting new clients, to serving existing clients, and then retaining those clients. Through a series of projects, we've uncovered ways in which advisors can address client needs throughout the cycle. In this presentation, we discuss what motivates investors to hire an advisor, what investors look for over the duration of their relationship with their advisor, and the precursors to why investors may choose to part ways with their advisor. The results point to a complex picture of engagement that requires financial advisors to adapt and anticipate the (sometimes unspoken) needs of their clients.