When transitioning the primary relationship from one advisor to another, whether due to retirement or rightsizing, it’s important to transfer as much information as possible from the current advisor to the new advisor – especially small pieces of information that can help the new advisor build rapport. This kind of information typically isn’t financial in nature, so, unfortunately, it’s not listed on the clients’ new account opening forms.
After multiple transitions of advisor relationships, we’ve developed a list of questions that includes information that is helpful for new advisors. The goal is to provide a set of prompts for the transitioning advisor to help get proprietary client information transferred from their memory onto paper so that it can be utilized by anyone on the team – particularly a new service advisor.
The Client Interest Profile is simple to use. We recommend using a transcription service, like CopyTalk, to produce a printable version of the information (you can also save the recorded version too if you’d like.) Once you’ve selected a service, you can print one copy to use as a prompt, dial in, and answer as many of the questions as possible – they’ll email it all to you so that you can copy and paste it into a CRM or print for your paper files.
You’d be surprised at the wisdom that can be transferred using this basic format. The information is incredibly helpful for the new advisor/team and gives the transitioning advisor an opportunity to reflect on relationships that have, in many cases, lasted a lifetime.
(No opt-in necessary!) Print this out and keep it in a paper file or use the fillable pdf to create a digital copy.
We hope you find this tool as useful as we do!
& The Signature Team