Client & Successor Intergenerational Meeting: How To Retain Client Assets Across Generations

By now you’ve determined the generation of your client and successor, bonded with the successor and prepared for the inter-generational financial meeting that will help protect her assets for generations to come.

The last step is to actually hold the meeting with the client and successor(s).

You’ve prepared well and you’re ready to “talk shop” to all generations by using words that resonate with each generation and sharing investment strategies attractive to both parties.  Your strategy will keep them engaged and not alienated.

For this meeting, you will likely create some materials. Remember that 87% of adults learn face to face or visually, so here are some tips that will help each generation focus on your presentation instead of their iPhone or watch.

Generation Presentation Tips

Although you may have mastered the Platinum Rule with one different generation, the challenge in this meeting will be speaking the right language to all three generations in the family if there are different aged successors present at the meeting.

Consider making certain points twice – once with regards to the concerns of a Boomer and one with a focus of what’s more important to Gen X or Gen Y.

By speaking to each generation in its own terms, you’ll build the trust and credibility that allows everyone to reach their financial goals.

Putting these four steps together will take time and practice. So use this checklist and start slowly, just 20 minutes/week, focusing on clients with whom you already have a strong relationship.

After you meet one client’s successor, ask another client to meet her successor so that you have a constant pipeline of client successors to meet. In just a few months, you’ll start creating succession plans for your clients and preserve the assets you’ve worked your entire career to build and maintain.

By the way, I’ve been putting the finishing touches on a program tailored specifically to FAs that help prepare them for inter-generational meetings and make this process ultra-smooth.

I’ll be sharing more information on this program in a webinar next week, so for now, look out for a webinar invitation in the next few days.