For many advisers, annual client reviews can seem like just one more item to check off a lengthy to-do list.
But annual client reviews are more than just routine check-ins — they're a strategic opportunity to deliver value, build trust and uncover new opportunities.
- For clients, these reviews help ensure their financial plans can remain aligned with life changes and market conditions.
- For advisers, they provide a chance to strengthen relationships, introduce new strategies and help grow their business.
By making annual reviews a cornerstone of your practice, you can help position yourself as a trusted partner in your clients' financial journeys while also helping to drive revenue for your firm.
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Kiplinger's Adviser Intel, formerly known as Building Wealth, is a curated network of trusted financial professionals who share expert insights on wealth building and preservation. Contributors, including fiduciary financial planners, wealth managers, CEOs and attorneys, provide actionable advice about retirement planning, estate planning, tax strategies and more. Experts are invited to contribute and do not pay to be included, so you can trust their advice is honest and valuable.
Core benefits of reviews
Effective annual reviews should benefit both clients and advisers. They provide a structured opportunity to reassess financial goals, address evolving needs and uncover new opportunities. Here's how these reviews can help deliver value:
1. Strengthening client relationships
- Build trust. Regular reviews demonstrate your commitment to understanding and addressing your clients' evolving needs.
- Provide reassurance. Use these meetings to address concerns, answer questions and provide clarity on financial strategies.
- Showcase expertise. Face-to-face conversations allow you to position yourself as a proactive advocate who helps clients navigate complex financial decisions.
2. Identifying opportunities for growth
- Reassess financial plans. Annual reviews allow you to help uncover gaps or misalignments in your clients' strategies.
- Introduce new solutions. Use the review as a platform to help recommend products or strategies that align with their goals.
- Deliver value. Position the review as a value-added service that goes beyond basic portfolio management.
Key areas to address
Annual reviews are typically most effective when they focus on the areas that matter most to clients. By addressing these key topics, advisers can help ensure their clients' financial plans remain relevant and effective.
1. Annuity optimization
Annuities are long-term tools that can become outdated due to changes in interest rates, inflation or personal circumstances. Regular reviews help ensure they remain aligned with clients' goals.
- Evaluate needs. Assess whether existing annuities still meet the client's financial objectives.
- Explore opportunities. Identify potential rewrites or exchanges to improve payouts or help reduce costs.
- Educate clients. Explain how economic changes, like rising interest rates, impact their annuities.
2. Aligning investment risk with tolerance
Risk tolerance often shifts over time, especially as clients approach retirement or experience life changes. Annual reviews provide an opportunity to realign portfolios with clients' comfort levels.
- Reassess risk profiles. Adjust portfolios to reflect changes in risk tolerance.
- Introduce new strategies. Consider conservative growth options or income-focused investments for risk-averse clients.
- Help ensure alignment. Verify that the portfolio supports both short- and long-term goals.
3. Tax-efficient strategies
Tax laws and financial situations change frequently, creating opportunities for advisers to help clients reduce their tax burdens.
- Review tax situations. Identify strategies like tax-loss harvesting or Roth IRA conversions.
- Optimize accounts. Evaluate the tax efficiency of investment accounts and recommend adjustments.
- Discuss implications. Explain the tax impact of annuities, 401(k)s and other retirement accounts.
4. Enhancing retirement plans and income streams
Retirement readiness is a top priority for most clients. Annual reviews ensure their plans remain on track.
- Assess income strategies. Evaluate Social Security, annuities and other income sources to ensure they meet retirement needs.
- Make adjustments. Recommend changes to address market conditions or shifts in income requirements.
- Maximize 401(k) plans. Review contributions, investment allocations and employer match opportunities.
Goals to establish
A well-structured annual review helps ensure the meeting is productive and client-focused. By setting clear objectives, you can optimize the value of these sessions.
- Evaluate financial goals. Revisit the client's short- and long-term objectives and make changes to address shifting goals.
- Explore new opportunities. Identify potential investment, income or tax opportunities before meeting with clients, then use the review to educate them on emerging financial products or strategies that may be of benefit.
- Position solutions strategically. Introduce new tools, such as annuity rewrites or tax-advantaged accounts, as ways to help clients achieve their goals.
Interested in more information for financial professionals? Sign up for Kiplinger’s new twice-monthly free newsletter, Adviser Angle.
Ways to bolster your business
Annual reviews are also a powerful tool for advisers and can help grow any practice. By leveraging these meetings, you can uncover new revenue and strengthen client retention.
1. Generate new revenue streams
- Identify gaps in financial plans that can be addressed with new products or services.
- Leverage reviews to potentially introduce solutions like annuity rewrites or tax-advantaged accounts.
2. Enhance client retention and referrals
- Regular engagement builds trust and loyalty, leading to long-term client relationships.
- Satisfied clients are more likely to refer friends and family, driving organic growth for your firm.
Tips to take away
To make the most of annual reviews, consider these practical tips:
- Be proactive. Don't wait for clients to request a review — initiate the conversation.
- Personalize the experience. Tailor recommendations to each client's unique circumstances and goals.
- Educate and empower. Use reviews as an opportunity to educate clients on financial strategies and products.
- Leverage technology. Use CRM tools and financial planning software to streamline the review process and provide data-driven insights.
- Follow up. After the review, provide a summary of key takeaways and next steps to keep clients engaged and informed.
Turning reviews into results
Annual client reviews are a win-win for advisers and clients. By prioritizing regular, meaningful engagement, financial professionals can position themselves as trusted partners in their clients' financial journeys while also enhancing their firm's bottom line.
Make annual reviews a cornerstone of your practice, and you'll not only help your clients pursue their goals but also set your business up for long-term success.
Advisors Excel's mission is simple yet profound: to help good advisers become great business owners while enabling their clients to enjoy the retirement of their dreams.
Investing involves risk, including the potential loss of principal. Any references to protection, safety or lifetime income, generally refer to fixed insurance products, never securities or investments. Insurance guarantees are backed by the financial strength and claims paying abilities of the issuing carrier.
Our firm is not affiliated with the U.S. government or any governmental agency. Neither the firm nor its agents or representatives may give tax or legal advice. Individuals should consult with a qualified professional for guidance before making any purchasing decisions. 8/25 — 4733037
Related Content
- Six Big Beautiful Opportunities: Advisers' Guide to Tax and Client Strategies
- Addressing Your Clients' Emotional Side: Communication Techniques for Financial Advisers
- Savvy Marketing Tips for Financial Pros From a Financial Pro
- How Financial Advisers Can Build Retiring Clients' Confidence
- Advisers: Master the Fed Funds Rate, Help Clients Master Retirement
-
5 Types of Gifts the IRS Won’t Tax: Even If They’re BigGift Tax Several categories of gifts don’t count toward annual gift tax limits. Here's what you need to know.
-
The 'Scrooge' Strategy: How to Turn Your Old Junk Into a Tax DeductionTax Deductions We break down the IRS rules for non-cash charitable contributions. Plus, here's a handy checklist before you donate to charity this year.
-
IRS Says You Made a Tax Return Mistake? A New Law Could Help You Fight BackTax Law Updated taxpayer protections change what the IRS must explain on error notices and how long you have to respond.
-
What You Need to Do With Your 401(k) Before 2025 Is OverBefore 2025 ends, check your 401(k) contributions, investments, and catch-up eligibility to lock in this year’s tax savings and employer match.
-
I'm a Tax Attorney: These Are the Year-End Tax Moves You Can't Afford to MissDon't miss out on this prime time to maximize contributions to your retirement accounts, do Roth conversions and capture investment gains.
-
I'm an Investment Adviser: This Is the Tax Diversification Strategy You Need for Your Retirement IncomeSpreading savings across three "tax buckets" — pretax, Roth and taxable — can help give retirees the flexibility to control when and how much taxes they pay.
-
Dow Rises 497 Points on December Rate Cut: Stock Market TodayThe basic questions for market participants and policymakers remain the same after a widely expected Fed rate cut.
-
I'm Retired With $2.2 Million Saved and Work 2 Retail Shifts a Week for Fun. My Young Colleague Just Got Her Hours Cut. Should I Quit So She Can Have My Shifts?Should she quit her job so a struggling young colleague can take her shifts? We asked certified financial planners for advice.
-
Could an Annuity Be Your Retirement Safety Net? 4 Key ConsiderationsMore people are considering annuities to achieve tax-deferred growth and guaranteed income, but deciding if they are right for you depends on these key factors.
-
I'm a Financial Pro: Older Taxpayers Really Won't Want to Miss Out on This Hefty (Temporary) Tax BreakIf you're age 65 or older, you can claim a "bonus" tax deduction of up to $6,000 through 2028 that can be stacked on top of other deductions.
-
JPMorgan's Drop Drags on the Dow: Stock Market TodaySmall-cap stocks outperformed Tuesday on expectations that the Fed will cut interest rates on Wednesday.
