Kitces: To Serve Clients More Efficiently, Think Beyond the Obvious By Jeff Berman - ThinkAdvisor
Michael Kitces has some good news for advisors: You can go the extra mile for your clients without burning yourself out. It just takes a little creative thinking.
When clients have special needs, the typical range of options is “either we reduce our services and we do a simple, low-cost thing for clients [with] relatively limited quality [and a] limited price or … accommodate everything [at a] very high cost so that I can charge a premium for that service,” Kitces said Thursday at the Wealth Management EDGE conference in Hollywood, Florida, in the day’s opening address, “How to Make Planning More Efficient.”
“But these are not the only two choices,” said Kitces, who is chief financial planning nerd at Kitces.com and head of planning strategy at Buckingham Wealth Management.
For example, there are often clients who can meet with an advisor only on a limited number of days and at a limited number of hours, he said. Option one is that since it’s a pretty big client, you give that person an appointment at whatever time they want, he said. Option two would be to say you’re sorry but you don’t make special appointments like that.
