I want to tell you a story about Tom.
This is the kind of story every advisor has but very few are willing to share…
Tom and his client, Michael, had spent fifteen years together.
Every year, same rhythm. Michael came in for his annual review.
Tom walked him through the numbers, asked about the kids, the golf swing, and the lake house.
"Everything looks good. Same time next year?"
The meetings were good and nothing ever went wrong.
Then one random Tuesday, Tom got this message from his assistant:
“Any idea why we just received transfer paperwork from Michael??”
No call. No blowup. No "we need to talk." Just a form from another firm, quietly moving fifteen years of trust somewhere else.
Tom did what any of us would do in that moment. He kept asking “What did I miss?”
He sat there and replayed every review and every interaction over and over again in his mind.
But, he couldn't find the moment it went wrong….
Because there wasn't one.
That was the whole problem. There was never a fight. There was just fifteen years of “fine.”
And here’s the thing…this isn't a story about an average advisor. In fact, in my experience, Tom would easily be in the top 5%. And, that's what makes it a story worth telling.
Because if it can happen to Tom, it can happen to anyone (and probably already has)!
The reality is you’ve probably have at least one Michael in your client base.
The clients where everything's "fine," where the reviews are good, and where a sudden transfer request would shock you.
Tom had to lose one of his best clients to realize he needed a better way.
One that not only keeps delivering valuable interactions to your best clients, but also gets them to actually refer their friends and family without asking for awkward intros.
Here’s the bad news:
It's a different meeting entirely and requires re-thinking everything you’ve learned about review meetings.
Because everything you’ve been taught about review meetings focuses on the wrong thing.
The good news is you can start running better review meetings in a matter of weeks IF YOU KNOW EXACTLY WHAT TO DO AND HOW TO DO IT.
P.S. If you're wondering what Michael said when Tom reached out to ask him what happened...he never responded. And still hasn't talked to him since...
Related: Most Advisors Don’t Lose Drive—They Lose a Supportive Environment
