47 – Presenting your SOA

The SOA is a compliance and disclosure document. You have to give one to any client to whom you provide advice.

So, make the presentation of the SOA something special.

We are not talking about tying a blue ribbon around the SOA and asking (Sir) Prince Philip to cut if for you. Nor is the SOA presentation a product launch worthy of champagne and vols-au-vent. Don’t go over the top.

But do take the time to present the SOA and discuss it with your client.

Many advisers send a copy of the SOA to their client before the official presentation. That is fine, but it is always a good idea to meet with the client soon after and discuss the contents of the SOA.

Remember: in the post-LIF world, the ongoing relationship between you and your client is all-important. The days of doing a single piece of work for clients are over – unless you want to find 25% more clients each year to compensate for the reduction in commission income that LIF represents. A far better way is to look for ways to add 25% more value to each client – at a minimum.

For this to happen, it needs to be you that the client thinks of when an issue arises. When wills needs refreshing, you need to be the pre-eminent adviser who the client instinctively gets in touch with. You can then organise the wills through MLA Lawyers and charge a fee for the work of facilitating this service. When a job offer looms, you need to be the one the client rings to talk things through with. When a marriage ends, you need to be the one who recommends the good family lawyer.

You can only become this trusted adviser by meeting regularly with your client. So, see the presentation of the SOA as something very near the start of the relationship, rather than something that comes at the end.

In professional services, your service is your best form of advertising. Getting a new client is the hardest part. So, once you have taken on a client, advertise yourself to that client regularly. Every time you come into contact with a client you are selling your next service.

The Dover Group