Module: Optimize the client experience

Deepen relationships

Are you missing the biggest opportunity in your business?

 

Most financial advisors are chasing growth by acquiring new clients — but the greatest opportunity might already be sitting inside your existing relationships. Today’s landscape is shifting fast, and several trends are converging to reshape where clients find value and how they choose to engage:

  • The Great Wealth Transfer is accelerating, with trillions expected to shift across generations in the coming years.1
  • Client demand for holistic advice is up 52% since 2018, with nearly half of investors now preferring to work with a single advisor who can address their full financial picture — including taxes, legal, insurance and life planning needs.2
  • The workplace is becoming a powerful point of entry — 15 to 20% of investors say they’d prefer to find their advisor through workplace benefits, nearly double the current state.2

 

In this environment, the most successful advisors aren’t simply managing portfolios — they’re becoming trusted, indispensable guides through life’s financial milestones. Whether you serve high-net-worth families, retirees or institutional plans, the ability to go deeper with the clients you already have is becoming a key differentiator.

 

 1Source: Cerulli Associates, High-Net-Worth and Ultra-High-Net-Worth Markets 2024

 2Source: McKinsey & Company, Client trends that will impact growth, 2024

On this page

Growing existing client relationships (Insights)
Identify relationship challenges (Reflection)
Relationship deepening opportunities (Takeaway)
Moving beyond brokerage (Takeaway)

“My business success shifted when I stopped looking for new households and started going deeper with the ones I had. Once I aligned my conversations with client milestones, my clients began seeing me as their trusted advisor, and the business took off.”

— Ben Wong, Senior Wealth Advisor at Mariner Wealth Advisors

A 4-part path toward a high-performing practice, starting from ‘waiting for the ask,’ moving through ‘recognizing hidden opportunity’ and ‘deepening multigenerational ties’ and ending at ‘expanding household impact.’

Use the resources in this lesson to:

  • Tie key life events to financial milestones
  • Uncover planning opportunities through discovery-based prompts
  • Enhance the value of a brokerage practice with advisory services

INSIGHTS

Growing existing client relationships

In this video, Nick DeCenso shares his strategies for growing existing client relationships — plus his specific talking points for “warming up” and further winning over his clients. 

headshot-460x460-nick-decenso

Nick DeCenso

Senior Director of Wealth Management Solutions, CAPTRUST

3MINVIDEO

Takeaway

Relationship deepening opportunities

Download this client engagement map to identify when and how you might converse with clients to grow your relationships.

Download
Takeaway

Moving beyond brokerage

Download this resource to help shift your practice from transaction-focused to advice-driven.

Download

Other modules to choose from

Think like a CEO

 

Develop your team

 

Scale your business

Other lessons in Optimize the client experience

Segment your book

 

Elevate the experience

 

Standardize client service

Case studies

See what the theories above look like in real-world practice. Find insights, ideas and inspiration that make it easier to visualize your next move. 

View case studies

Tools and takeaways

What are your next steps to consider? Eliminate the guesswork with these action items that help you build and maintain momentum.

View tools and takeaways

CE credit details

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Course glossary

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For financial professionals only. Not for use with the public.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the mutual fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
This material does not constitute legal or tax advice. Investors should consult with their legal or tax advisors.
Statements attributed to an individual represent the opinions of that individual as of the date published and do not necessarily reflect the opinions of Capital Group or its affiliates. This information is intended to highlight issues and should not be considered advice, an endorsement or a recommendation.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.