Building Strong Client Relationships

The Key to Success for Our Clients

In the world of wealth management, the foundation of success lies in forging positive client relationships. Building trust, listening and understanding needs, and delivering exceptional service are the keys to building strong relationships with our valued clients.

In this article, we will explore how we as your trusted wealth managers, strive to cultivate and strengthen our client relationships, ultimately leading to long-term, trusted partnerships.
 

Establish Clear Communication Channels

Maintaining regular, transparent dialogue with our clients is obviously a necessary component in the creation and continuation of a healthy relationship.  It’s essential to establish our clients’ expectations regarding the timing and method of communication.  Some of our clients prefer regular updates, as often as monthly, regarding portfolio performance and cash distributions.  Others may be satisfied, and often request, less frequent correspondence; be it phone calls, emails, or even texts.  Recently, zoom calls have often replaced face-to-face meetings. 

At the onset of our wealth management relationship, we always ensure we’re on the same page with our clients in terms of the timing and method of communications.
 

Understand and Address Client Needs

We take the time to truly understand our clients' financial goals, risk appetite, and investment preferences. Since we care about achieving long-term success, we tailor our advice and recommendations to each client’s individual circumstances. It’s essential to understand that each client is different; there is no one-size-fits-all approach.

At First Bank Wealth Management, initial meetings are important to lay the groundwork for a strong, continued relationship, with the understanding that quarterly or annual meetings are needed to reaffirm client wishes.

We regularly review and update our clients’ financial plans to ensure they remain aligned with their evolving needs. We feel that providing personalized solutions will not only build our mutual trust but also better position us as your trusted advisor.
 

Provide Exceptional Service

We need to be proactive in providing solutions to our clients wants by regular account reviews and anticipation of future changes.  Our portfolio managers regularly provide performance reports and educational materials to allow our clients to make the most informed decisions. These services not only help to foster trust but also encourage our clients to recommend their friends and family members to First Bank Wealth Management.
 

Establish Transparency and Honesty

Transparency and honesty are the cornerstone of our wealth management relationships.  During our initial set of meetings, and prior to signing paperwork, our trusted advisors are upfront about the disclosure of any fees, risks, or conflict of interests. We clearly explain the reasoning behind any decisions to foster long-term client satisfaction and trustworthiness.
 

Build a Personal Connection

At First Bank Wealth Management, we feel that building a personal connection with our clients significantly enhances the client-financial advisor relationship. At First Bank Wealth Management, we take a genuine interest in the lives of our clients, are interested in hearing about their families, want to know more about their hobbies, and celebrate milestones and important events.
 

Conclusion

In the competitive world of wealth management, building positive client relationships is the cornerstone of success. By establishing clear communication channels, understanding and addressing client needs, providing exceptional service, being transparent and honest, and building a personal connection, the team at First Bank Wealth Management can continue to forge strong and lasting relationships.

First Bank takes pride in its approaches and procedures in creating a lasting, positive client focus.

As always, if you have any questions or concerns regarding our approach to serving our clients, please reach out to the First Bank Wealth Management Team.
Brian Lescar, CFP®, AAMS®, LIFA is a Vice President and Portfolio Manager for First Bank Wealth Management.
With over 30 years of experience in financial services and a deep knowledge of investment management, you may contact Brian Lescar at (419) 309-4396 or via email at [email protected].