Announcement

Principle 1: Client

In the announcement stage the retiring financial professional is expanding the practice by transitioning to another firm. Let’s walk through the 3C communication principles for this stage: client, complementary. and continuity.

Put the client at the center of all communications. Let them know why you are adding someone to your team. According to a recent survey, 86% of clients would rather hear that you are adding someone to the team because you want to better serve their needs.

Principle 2: Complementary

Describe the acquiring financial Practice's skill set as additive to the retiring financial professional’s practice.

It’s better received by clients if you share that the new financial professional will bring complementary, rather than new, investment strategies to the team.

Principle 3: Continuity

Minimize the change and disruption to your clients’ financial lives

68% prefer to hear:

• “I'm joining a Team”

32% prefer to hear:

• “I'm partnering with a practice" 

what clients would rather hear in this stage and how you can say it

75% prefer to hear:

• “Although nothing's going to change for many years, eventually I will retire.”

25% prefer to hear:

• “Eventually I will retire.”

what tactics can we use to communicate these messages?

• Consider sending a formal client letter or email.
• Control the public message by issuing a press release.
• Share the news on social platforms and in newsletters.

language you can use to help guide you through your announcement 

Pay close attention to the bolded words as they ensure we’ve put the client at the center of the communication, described the acquiring financial professional’s skill set as an additive to the retiring professional’s practice, and minimized the change and disruption to your clients’ financial lives. 

“As your financial professional, over the many years we have worked together, I have truly enjoyed helping you plan and prepare for your future. As you have prepared for your future, I too have been preparing for my future and retirement. So while this will not be an issue for many years to come, I do think that it is important that we discuss it early so we can make sure you and your family feel secure for the long term.”

“With that said, I have gone through a very thoughtful process in determining who might bring complementary skills to the group. We will be adding a new team member, Maria Sanchez. Maria’s experience and specialization have really stood out to me. I have seen that Maria has a proven track record of success over the years she has been in the business. We believe that Maria will not only be a great fit for our team, but she will bring a complementary skill set such as generational planning, Social Security and tax-smart strategies.”

“With Maria joining the team, we’ll not only be able to continue the services that we have always offered, but also expand our services. We share the same beliefs on investing and financial planning, and I feel confident that we will continue the mutually beneficial relationship that we have had over the years. It’s important to me that you meet Maria at some point in the near future. I will be reaching out to find a convenient time that will allow for an introduction.”