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Written by: Carla Brown, CFP, FPFS, TEP | Oakmere Wealth
Building a successful, long-term client relationship requires intentional cultivation from day one. The onboarding period sets the tone for the entire client-advisor journey and has the potential to significantly influence client satisfaction, retention and goal achievement. It’s not a paperwork formality or one-and-done meeting, but a time for advisors to gather essential information, demonstrate their value, align expectations and assess whether a mutually beneficial relationship is likely to thrive.
The Power of First Impressions
An initial “discovery” call is one of the most powerful tools in the onboarding process. This 30-minute conversation should help you understand the client’s financial position, set clear expectations and determine if the partnership would be a good fit moving forward.
Start by prioritizing active listening. Give your clients the space to openly share their concerns, goals and motivations for seeking financial guidance. Rather than leading with a monologue about credentials or technical knowledge, allow them the chance to speak first, and you’ll gain deeper insight into what they truly need from your services. This will help you tailor your approach to meet their goals.
Establish Trust Through Transparency
Transparency from the start is crucial to establishing a strong foundation of trust with a client. Once the client has communicated their goals and needs, it’s equally important to communicate yours. Advisors should clearly outline their role, define the scope of their abilities and set realistic expectations for the road ahead. Be open about what you can and cannot offer, and avoid overpromising.
Most importantly, communicate early on that your job is not to take orders. It is to offer personalized recommendations and plans based on your expertise—even if those recommendations may challenge the client’s initial assumptions or desired outcomes.
For example, if a client has a goal that isn’t feasible—like earning double-digit returns on investments with minimal risk—address your concerns directly while asking thoughtful questions to uncover the motivation behind their objective. Having candid, sometimes uncomfortable conversations up front will prevent misunderstandings and ensure long-term alignment.
Know When to Say “No”
One of the most overlooked aspects of onboarding, especially for newer advisors, is understanding when to say “no”. Not every prospective client will be the right fit. The temptation to accept every opportunity in order to meet sales targets or simply increase the number of clients you represent can lead to strained or mismatched relationships.
Saying “no” isn’t about turning away business, it’s about preserving the quality of your service and maintaining professional integrity. There have been instances throughout my career I’ve accepted clients only to later realize we weren’t a suitable match. Had I facilitated more honest conversations early on, I could have come to a decision on not working with them sooner. Let the prospective client know that you choosing not to move forward is intended to help them find the support and guidance that best fits their needs.
Don’t Rush the Process
After both parties agree to move forward, resist the urge to accelerate the onboarding timeline. Building trust is a gradual process that requires patience. At many advisory firms, onboarding can extend over several months, offering space to develop a comprehensive plan, address client concerns and begin fostering a genuine rapport.
Clients who are hesitant or uncertain during this period may benefit from connecting with others who have walked a similar path. Sharing testimonials or facilitating conversations between long-standing clients and new prospects can provide reassurance and demonstrate your value.
Communication is Key
Clear, timely communication is the backbone of a successful onboarding process and long-term partnership. Responding promptly to client messages and ensuring clients understand every step of a process not only builds confidence, but signals reliability from the start.
Proactive communication, especially during economic uncertainty or periods of change, can also provide clients with a sense of security. Even a simple message—such as a reminder to stay the course when markets dip—can go a long way in earning a client’s trust.
Above all, authenticity should be a constant. Clients can sense when communication is scripted or insincere. Let honesty, personalized expertise and empathy guide every interaction.
By mastering the art of onboarding, you're not just creating successful individual client relationships—you're building a sustainable practice that thrives on meaningful connections and mutual respect.
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