Once you’ve segmented your clients, you need to assign clients to platinum, gold, and silver status (or Tier 1, 2, and 3) based on their scores. You can determine what score qualifies a client for each status/tier.

You will find a fourth, unquantified level – those who do not fit into the silver/Tier 3 category. They do not need the high-powered financial acumen and structural capabilities of your business. Those clients, unfortunately, keep your practice from running efficiently and moving forward. This is a major shift from the paradigm of “open more accounts” most advisors have operated on.

In stratifying your clients, you will find that the portion of your business that is the most successful is a small percentage of your practice – a narrow band of the clientele with whom you have very deep relationships, significant assets, and a wide spectrum of products and services and capabilities from your sophisticated team. The collective weight of your other relationships keeps you from serving those top clients, and inhibits you from growing your practice.

Brochure Client Engagement Toolkit