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Benchmarking Your "Now"

"Happy customers are your biggest advocates and can become your most successful sales team" - Lisa Masiello

What You Will Learn

  • Determine your current client mix

  • Identify your best clients

  • Spend more time with the clients in your AAA, AA client groups

  • Attract more preferred clients by concentrating your attention on your AAAs and AAs

  • Implement a strategy for reducing the number of less desirable clients

  • Think about clients and their impact on your business differently

How You Can Get Started

Benchmarking Your “Now”

  1. First, you may want to read more about How Scarcity Enhances Your Branding.

  2. Create a summary of all your relationships on the Client Analysis Worksheet using the criteria you defined when we created your Client Classification Worksheet. 

  3. Analyze your Client Analysis Worksheet. 

    • If you have recently rightsized, then the following criteria may not apply to you: 

      • If the clients in your ‘A’ groups make up more than 30% of your total clientele, your Asset and Attitude Knock-Out Factors may be too generous.

      • If there are more clients in your ‘B’ group than your ‘C’ and ‘D’ groups combined, then you may have been too generous with your ‘B’ group threshold. 

    • Ensure anyone in the AAA group is a proven referral source.

    • Make sure any family members and close affiliates of your AAA, AA and A clients have been allocated the AF category instead of B, C or D – as they will receive special treatment.

  4. Discuss the results with your team:

    • What percentage of the relationships and revenue are your AAA, AA & A clients?

    • How many family members of A clients do you work with currently?

    • What percentage of the relationships and revenue are your B clients?

    • What about these ratios for your C & D clients?

    • How many clients are assigned to each advisor overall (maximum should be 150)? 

    • Can our current team manage all of these clients?

    • Can we accommodate future growth with our current team?

  5. Based on the results of your analysis, make any necessary adjustments to your Client Analysis Worksheet. 

    • Revise your Client Classification Worksheet if you made any adjustments. 

  6. Assign a classification code to each relationship on your CRM. 

Client Transition & Realignment

  1. If you need to actively transition and realign clients, dive into the                                                                                      Client Transition & Realignment best practice.

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