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Bigger Isn't Better - Slowing Down


I heard a great expression recently.  Well, I’m sure I’ve heard if before, however, this time it caught my attention.  It is – “Bigger isn’t better. Better is better.”   The expression rang true to me as it connects to a major change I’ve made for my practice this year.

 

The change is related to the growth of my firm.  Actually, that is a side effect of the real change.  The real change is to focus harder on improving my client service.  The side effect is how many clients I will be taking on this year.

 

Back to the main goal of improving my client service.  When I started my firm I wanted a practice where I took on a select number of clients.   The goal has always been to cap that number as I wanted to be able to develop close relationships with my clients.   This all comes down to client service and providing the level of service they and I expect to be delivered.  

 

When a new client comes on board it takes up a lot of time.  Don’t hear me complaining as this is a great problem (a friend would say I was complaining about the color of my money). However, I never want my existing clients to feel as though I’m ignoring them by onboarding new clients.   

 

When I first launched it wasn’t an issue as I had no clients.  That is no longer the case.  So, I’ve decided to make a change most advisors would never even consider.   I am going to significantly limit how many clients I take on this year.

 

This year I will only be bringing on four (4) new clients.  Technically, it will be one new client per quarter.   I’ve realized any more than this could interfere with my ability to provide great client service to those who have already entrusted me with their personal finances.

 

Client service is the most important thing in my practice.  I will be making changes in the specific services I provide to clients, but I won’t bore you with those details.  Mostly, because those are for client eyes only😉  Just know that I’m focusing harder on “better is better” and that starts with client service!