From 'My Adviser Is Great' to a Great Story: This Is How Advisers Can Turn Value Into Referrals
Most advisers deliver more value than their clients realize. Here's how you can bring it all into focus and make it easy for your clients to understand and fully appreciate.
I recently wrote about how today's clients expect something different from their advisers. They're looking for advice that helps them make better decisions, simplify complexity and regain time.
Investment management still matters, but increasingly, it's just one piece of the value equation.
Since then, I've had several conversations with advisers who agree with that premise but are wrestling with a different question: If clients expect more, how do you consistently deliver more?
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What I've found is that many advisers already are. The challenge is that neither their teams nor their clients can clearly articulate what that "more" actually means.
Ask advisers to describe the value they bring, and most can do it without hesitation. Ask them to show where it's documented, how it's delivered consistently and how clients know what services are available to them, and the answer often becomes less clear.
That's because many firms didn't intentionally build their service model. They accumulated one.
Over the years, one client needed help with an estate issue. Another needed coordination with a CPA. A business owner required guidance on succession planning. The adviser stepped in, solved the problem and moved on. Then it happened again. And again.
Eventually, the adviser delivers far more value than investment management alone, but much of that value lies in experience rather than in a clearly defined model.
The hidden risk of doing more
Most firms don't have a capability problem. They have a visibility problem. When advisers don't define what they do, clients often receive whatever level of service is delivered rather than the level they need.
A client with a straightforward retirement plan and a client preparing for a business sale rarely have the same planning needs.
Yet many firms still approach both relationships through a similar service structure — not because they're unwilling to provide more, but because they've never established a framework that distinguishes one experience from another. Over time, that creates risk.
The highest-value clients often have the most complex needs. If they don't see evidence that those needs are being addressed proactively, they'll eventually look elsewhere. And when they do, they're rarely leaving because another adviser has radically different capabilities. They're leaving because another adviser made those capabilities visible.
Experience Alpha requires structure
One of the central ideas behind Experience Alpha, a strategic initiative launched at AE Wealth Management, where I am president, is that client experience doesn't happen by accident. It has to be designed. That design starts with understanding the services you're providing and determining which clients should receive them.
Some firms organize those services into tiers. Others categorize them by client complexity, planning needs or relationship type. The specific approach matters less than the discipline of defining it.
At our firm, we often think about services as evolving from foundational planning and investment guidance to broader planning coordination, advanced wealth strategies and concierge-style support for significant life events.
The labels aren't important. What matters is creating clarity for your team, for your clients and for yourself.
What advisers usually discover
When advisers map their client relationships against a defined service structure, two things almost always happen.
First, they realize they're already delivering far more value than they give themselves credit for. The work is happening every day. The problem is that clients often experience those services as isolated interactions rather than as part of a broader advisory relationship.
Second, advisers identify clients who should receive a more advanced level of support than they currently receive. Those discoveries are often uncomfortable. They also tend to be incredibly valuable because they reveal opportunities to strengthen client relationships before clients start questioning them.
The communication advantage
One of the simplest tests I encourage advisers to try is this: If a client referred you to a friend tomorrow, what would they say?
If the answer is simply, "My adviser is great," you've earned a compliment. If the answer is, "My adviser coordinated my tax strategy, helped structure my estate plan and guided us through a major liquidity event," you've created a story.
Stories generate referrals. Stories reinforce value. Stories help clients understand why they stay.
When clients clearly understand what you do, they're more likely to engage more deeply, consolidate assets and view the relationship through a broader lens than quarterly performance reports alone.
Make the invisible visible
The reality is that most advisers are already doing more than their clients realize. But value that remains invisible is difficult for clients to appreciate. It's difficult to explain. And it's difficult to differentiate.
As client expectations continue to evolve, the advisers who thrive won't necessarily be the ones who do the most. They'll be the ones who make their value the easiest to understand.
Because in today's environment, delivering a great experience is only half the challenge. Making sure clients can see it may be the other half.
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