In response to my recent posts on client communication, I've had several advisors ask what to do when large clients are approached about sitting down but won't take the time to meet.Research identifies three reasons that clients turn down invitations to meet - concern that they'll be pressured to buy something, a perception that the meeting will not be of significant value and in some cases the time and hassle to travel to their advisor's office.



Let's start with the issue of clients feeling pressured to buy. Some advisors inadvertently send the wrong signal by making recommendations to which clients have said no in the past or perhaps responded with "I'll think about it", "not right now" or "let me ask my accountant" - which the advisor took at face value when they really meant no.

When clients are reluctant to follow your advice, take the time to probe for their concerns - and be extremely cautious about bringing up a similar recommendation again. If you do make the same recommendation, start by acknowledging the last discussion that you had and explain why you're bringing this up again, highlighting why your recommendation will improve their overall strategy.

The second barrier relates to clients feeling that they'll get marginal value from meeting- this is especially true for busy successful people. I recently talked to one client who said "I met my advisor for our annual review and it was almost exactly the same as the year before - so what's the point?"

In these cases, you have to "sell" the benefit of meeting to the client. One of the best ways to increase the value clients think they'll get from a meeting is by setting an agenda beforehand. By discussing what you'll be covering when you call to set the meeting up (remembering to start by asking clients what they'd like to talk about), investors are more likely to see the benefit of sitting down. In setting that agenda, incorporate at least one new element where the client will see a clear benefit, whether it be changes on RESP rules or tax treatment of charitable giving.

And by using that agenda when you get together, meetings are more likely to be focused and productive and there's a better chance that clients will walk away feeling that their time was well spent. (That's especially true if you follow up with an email summarizing your discussion and next steps).

The final issue relates to the hassle of meeting. This is primarily an issue in bigger cities where a combination of traffic and extortionate parking costs make many clients reluctant to drive downtown. (This is especially pronounced in Toronto, where many people HATE to drive into the core).

Some advisors offer "evening hours" one night a week to accommodate clients who have trouble getting away during the day. Others schedule breakfast or lunch hour reviews at their office, over coffee and bagels in the morning or a sandwich at lunch. Still others validate parking for their most important clients. One advisor in Toronto schedules a day every two weeks at a suburban office of his firm - where he meets in the boardroom with clients who live or work in the area.

As a final recourse and if the client is important enough, if they won't come to you, you can always go to them - offering to meet at their office or home. In recent interviews with investors who had selected new advisors, one busy Toronto dentist said that the winning advisor sealed the deal by offering to jump on the subway and meet at his office for twice yearly half hour updates.

Meeting with your top clients is by far the single best use of your time. Even if clients are reluctant initially, sell the value of sitting down, ensure clients perceive real value from the time spent and reduce obstacles - and you too can make those meetings happen.