President Perceptive Business Solutions Inc.
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Why Clients Leave (and How to Prevent Surprises)

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Creating a positive client experience at your firm means taking deliberate steps to ensure your client retention rate remains high and the people who leave do so on good terms. Bryce Sanders addresses how to spot some warning signs a client intends to make a hasty exit and some approaches you can take to mitigate the damage.

Oct 12th 2021
President Perceptive Business Solutions Inc.
Columnist
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“50 Ways to Leave Your Lover.” Paul Simon released the song in 1975. It’s still a classic almost 50 years later. The song actually listed maybe seven ways. When it comes to early warning signs a client is planning to leave, we can find plenty more.

Accountants are associated with filing taxes. This is often described as a “sticky” relationship because clients rarely change accountants. Many have expanded into the financial planning space too. Some accountants are affiliated with independent financial advisory firms. The expansion of the relationship also increases the reasons why clients might leave.

1. Request for Proposals

It’s the most obvious sign for business accounts. It can happen for legitimate reasons because clients periodically review all relationships.

Approach: You follow the rules and reapply.

2. Lack of Attention

It’s the reason most clients give when leaving service-based relationships. The client may have left or been nonresponsive. When you reach them, they feel they were a number, not a name.

Approach: Survey clients periodically to get feedback. Use multiple communication channels. Include educational material.

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