Once a business owner makes an investment in their organization to hire additional labor, it is in their best interest to ensure the new hire is integrated as quickly as possible.
However, when incorporating a new employee into what usually is a familiar and comfortable environment for clients and existing staff, there can be internal and external challenges that must be overcome for a seamless transition. Here are some tips for addressing the external challenges that mostly revolve around getting clients comfortable with a new name and face.
- Send out a letter announcing your new hire, then have your new planner contact all of the clients that may not have heard from you in awhile, if indeed there are any, so the new planner can introduce him or herself. When the clients come in for their next in-person meeting, the stage has been set and it won't be a surprise when the new planner takes the seat next to you. Script Idea: " Dear Client, It is my pleasure to announce that Jimmy New Planner will be joining our company on October 1, 2013 as an Associate Financial Planner. We are excited to have Jimmy who recently graduated from Faber College. Jimmy will be working jointly with me to ensure you continue to receive the best possible service and advice. Again, we are excited about Jimmy joining us, the growth of our company, and helping you achieve your life goals and dreams. Thank you for the trust and confidence you have placed in us. Sincerely, John Firm Owner"
- After you send the above referenced letter out, consider having your new planner contact the client a few days before the meeting to confirm and to ask the client if there is anything they would like to add to the agenda. This gives you another opportunity to create additional planning scenarios based on the client's response. Script Idea: "Hello Mrs. Smith, this is Jimmy New Planner and I am working with John Firm Owner preparing for your upcoming meeting on Thursday. I wanted to confirm that this Thursday at 3pm ET still works for you and Mr. Smith? Okay, great! We have several items we want to go over with you, but do you have anything specific you would like to add to the agenda as well? Okay, I'll make sure we are prepared to discuss that. I look forward to meeting you in person! See you on Thursday."
- Spend the first few moments of the client meeting introducing your new planner to the clients, discussing their credentials and their role in the firm. Script Idea: Consider something like this, “I wanted to introduce you to Jimmy New Planner, who recently joined us from Faber College, one of the best financial planning schools in the nation. He has an undergraduate degree in personal financial planning and will be taking the CFP® certification examination next month. He will be working with you on gathering the data we need to update your plan so he and I can update your financial projections. If you have any questions about your documents and/or financial plan going forward, feel free to give him a call.”
- During the meeting ask your new planner some basic questions they can answer in front of the client so the client sees that they are capable and that you trust them. Empower your new planner to ask and answer questions from the client as well. Script Idea: John Firm Owner to the Smiths, "Jimmy New Planner really poured over your documents and we wanted to let you know what we found with regard to some of the mutual funds you are currently invested in with your Spacely's Space Sprockets 401k. Jimmy?" Near the end of the meeting, John Firm Owner to Jimmy New Planner, "Jimmy did you have any other questions for the Smiths?"
- After the meeting, have your new planner type the notes they took and send a follow-up message to the client (in addition to having those notes logged into your own CRM). This reinforces to the client that the new planner knows the client situation and is an integral part of the advisory team. Script Idea: "Hello John & Jane, it was so great to finally meet you in person! I have attached the notes that we took at your last financial planning meeting. Please review to make sure we have captured everything correctly and let us know of any changes. Also, I have attached the pre-filled paperwork for the Roth Conversions we discussed. Please sign and return at your convenience. Call me with any questions. We hope you have a great trip to Florida! Feel free to send us some pictures if you would like. Sincerely, Jimmy New Planner."
Stay tuned for next month on tips for integrating your new planner with existing staff.
- Caleb will be presenting to the Northern California FPA Student chapter at Sacramento State on September 9th http://bit.ly/NorCalStudentChapter
- Michael is visiting over a dozen cities in September for various events. Find out more at http://bit.ly/KitcesSchedule
- Caleb will be speaking on Attracting Next Generation Clientele and Talent at the Northern California Fall Expo September 10th http://bit.ly/FPAExpo
- Caleb is attending The Bob Veres Business Insider Forum in Dallas September 17th-19th http://bit.ly/BobVeres
- Make sure to check out our new candidate screening service for assistance vetting candidates you may have sourced prior to making a hiring decision http://bit.ly/NewPlnrRecScreening
- Caleb will be presenting Finding, Hiring, and Growing as part of the Accelus Partners Expert Series on September 24th at 4pm CT http://bit.ly/CalebAccelusInterview