Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here.
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Dear Readers,
Advisors often ask me about unique ideas for gifts or ways to honor their clients. It is challenging to come up with something new. This past weekend, I attended an event for my father’s cousin, Jim. He had planned his own 75th birthday party and spent about 10 months doing so.
He told all of us who were invited that when one gets to a certain stage of life, most of the time dear friends and family get together is to honor the person in death. He wanted to bring his loved ones from all walks of life together while he is still here and healthy and able to enjoy everyone. Participating in this event got me thinking. What if an advisor could help a client do something like this in their own lives? I think of this in the category of creating a living obituary – sharing things about one’s self while alive rather than having people learn about you once you are gone.
In this week’s column, as I travel to Australia to speak at the Barron’s conference, I will share some ideas for how Jim made his party special. I’m creating a template you could use when you need to do something special for a client:
1. Identify the occasion. In Jim’s case this was his 75th birthday. People throw parties for all sorts of things younger in life – graduations, showers, weddings and even purchasing a new home. When people get older, there are fewer opportunities for parties unless someone throws one for you. Think about the things your older clients experience – could it be buying that dream second or third home, getting a degree late in life, having a significant birthday or entering retirement? Think of an appropriate cause for celebration.
2. Create a list of all the people from all walks of life. Work with your client on this. Who is special to them? Jim had people he had met from his “camp” in New Hampshire, from his various teaching jobs, from when he had been a brother in the Catholic church and then general friends along with us family members. Ask the client to think about groupings of friends and what relationships are most important to them.
3. Make it a no-gifts experience – but provide gifts to the guests in a fun and engaging way. Jim made it clear he only wanted cards and ideally to write things they remember about him on the cards. He then turned around and bought gifts and had people do a fun thing (throwing dice) around at the table and the one left holding it when the music stopped was called up to choose a gift. It was then a Yankee swap where people could switch their gifts.
4. Bring people you know with talents to share so you can introduce them to the client’s broader network. Jim had a guitarist he knew, a D.J. he had met and a friend who was a public speaker as the emcee for the night. It brought many different talents into the mix. It also gave important friends a role to play in the festivities.
5. Write your own story. Have the client put together a few important points about their life they can share with everyone there. Have them go through how they know many of the people and make connections. It is their show; have them talk about a life well-lived!
6. Make it fun! Jim has Scottish heritage, so he was dressed in full regalia. He also sings and plays guitar and played for the group. We did fun games and had people participating. There was dancing and singing. The buffet was great, and the plans were well organized.
Here is a template to use an idea like this for your valued clients. Walk through this list with them to get all the pieces in place:
Celebrating life is a great experience and bringing joy to clients by having them surrounded by people they care about will be fulfilling. Can you do this for a client? Readers, write in and let me know other great ways to “give” to your clients in a meaningful way.
Beverly Flaxington co-founded The Collaborative, a consulting firm devoted to business building for the financial services industry, in 1995. The firm also founded and manages the Advisors Sales Academy. She is currently an adjunct professor at Suffolk University teaching undergraduate and graduate students Entrepreneurship and Leading Teams. Beverly is a Certified Professional Behavioral Analyst (CPBA) and Certified Professional Values Analyst (CPVA).
She has spent over 25 years in the investment industry and has been featured in Selling Power Magazine and quoted in hundreds of media outlets, including The Wall Street Journal, MSNBC.com, Investment News and Solutions Magazine for the FPA. She speaks frequently at investment industry conferences and is a speaker for the CFA Institute.
Beverly Flaxington is a practice management consultant. She answers questions from advisors facing human resource issues. To submit yours, email us here. 
