Staying in Touch with Clients Should Be Every Financial Advisor’s Top Priority

While it may seem like a simple task, many financial advisors underestimate the power and importance of regular communication with their clients.

After Kevin Thompson suffered a career-ending injury as a professional baseball player, he used his earlier experience as the victim of a Ponzi scheme to become a successful registered independent advisor (RIA). That’s a combo of backgrounds we at Stay Paid just had to know more about!

In his interview, Kevin shares some of the valuable business lessons he learned while playing for the New York Yankees that he continues to use to drive his own achievements as an RIA and business owner. Among the significant takeaways for our listeners is the proven need to be sufficiently disciplined to put a plan in place and stick with it—especially after suffering a setback.

We were keen to ask Kevin what prompted him to become an RIA. His motivation was surprising—rather than wallowing in his misfortune at being the victim of a Ponzi scheme, he decided to never again be a part of something he didn’t understand. Once he had solved this pain point for himself, he turned what he learned into a business where he could help others. (You’ll hear him discuss his mission as the leader of a purpose-driven organization; it’s inspiring.)

Building a business from scratch takes courage, fortitude, and, of course, leads. Kevin reveals the initial strategies he used to find clients and how they have evolved over time to be more focused on generating referrals. This, he says, depends on two things: performing your services at the highest level and making sure that you stay in consistent contact with your clients.

Regarding the latter, advisors underestimate the power and importance of frequent communication with their clients. As Kevin notes, lack of contact is one of the primary reasons clients offer for firing their advisors. He shares his communication cadence, demonstrating that it’s far easier to keep in touch with clients than you might initially imagine.

We hope you enjoy this episode and act on the advice Luke offers at the end. We’d also appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts. (We read them on air!) Thanks for listening!

Connect | Resources

• Website: 9I Capital Group
• LinkedIn: Kevin Thompson, RICP^®, CFP^®
• YouTube: The 9Innings Podcast
• Social media: search 9I Capital Group
• Kevin’s book: MLB to CFP^®: 90 Feet and Counting

You can get free resources, including e-books, printables, and lead magnets to attract new leads, by visiting our Resource Library.

Are you interested in working with Luke and Josh to improve your marketing, get more referrals, enjoy more repeat business, and begin living the life of freedom you deserve? CLICK HERE and get a special offer just for Stay Paid listeners!

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