5 Ways Kronos Finance Makes Client Review Meetings More Successful—Preparation


Written by Kronos Technologies on December 05, 2018

Many top advisors make a point of focusing on completing annual review meetings with their top ‘A’ and ‘B’ clients in the first quarter of each new year. This is a great way to both get in front of the clients that have the biggest influence on your business, and set yourself up for new sales opportunities throughout the twelve months. So, over the next few weeks we’ll be looking at how to get the most out of your client review meetings and deliver the best experience for your clients using Kronos Finance. 

Read on to see how to make the most of your client review meetings, starting with a preparation process that works every time.

Five steps to ensure effective client review meeting preparation—every time

An effective preparation process that gets you ready to deliver an awesome client experience every time includes five steps that can be efficiently carried out with the help of Kronos Finance CRM.

Step 1. Identify candidates and schedule a meeting

The first step in preparing for a client review meeting is to identify the clients who are in need of a review and start scheduling meetings. Identifying candidates for review meetings using Kronos Finance is easy if you use the filter and segmentation tools in the CRM. You can search your entire client base or just your ‘A’ and ‘B’ segments looking for clients who meet your criteria—which may include things like: clients who haven’t had a review in twelve months, or clients who have previously identified DI or CI insurance needs but have not purchased coverage. 

Once you have identified a group of good candidates and selected your first client for review, you can use the pre-defined email template to quickly customize and send out a message informing them that you’d like to meet to review and update their information.
Once you have a date and time agreed upon, you can schedule the meeting in your CRM, ensuring that you receive an automatic reminder when the time is right.

Step 2. Review the client’s history in your CRM

Once your review meeting has been set you can begin to prep using Kronos Finance’s centralized client data capabilities. Kronos Finance’s gateways make it easy to access your client’s financial information in one location in your CRM. This gives you the ability to quickly review which products and services your client has, and how they are performing. 

And, you can also easily access all previous meetings, calls, documents, FNAs, notes and activities from the client’s contact record in Kronos Finance. By reviewing your history with your client you will be able to reacquaint yourself with their needs, communication style and softer, data like interests they have that you will be able to talk about in the meeting to build rapport.

Step 3. Conduct a Financial Needs Analysis (FNA) for your client

The FNA is the cornerstone of your review meeting. Prior to the meeting you can send your client a digital copy of their last FNA and ask them to update their personal and financial information, as well as their targets. 

Involving your client in the data collection process doesn’t just save time and ensure accuracy of information, but it engages them in the review process. It reminds them what they are trying to achieve and shows them where they are in the process. All of this makes them more educated, invested, and likely more receptive to your suggestions during the meeting.

If you are using Kronos Finance as your CRM then it makes sense to use Kronos FNA for this step in the process with all your clients. Kronos FNA is a stand-alone, cloud-based solution that integrates with Kronos Finance. It automatically populates the FNA fields with data from your CRM (saving on data entry hassles), enables you to share the FNA with your client before the meeting, and it shows you a record of changes between the last and the current one.

Step 4. Review the FNA to identify needs and opportunities

In the older, traditional model in which the FNA was completed during a face-to-face meeting, an advisor would have to take away the client information, work up potential solutions and return for a second meeting to present the recommendations. Using the cloud-based Kronos FNA advisors can eliminate the data gathering meeting, saving time for both them and their client—and ensuring a better client experience.

Once your client’s FNA has been updated you can review the information prior to your meeting. Kronos FNA will automatically suggest solutions to meet the client needs that have been identified. You can decide which you will try to address today, and those you will highlight in Kronos Finance as future sales opportunities. This Opportunities feature allows you to create an opportunity and attach the tasks that need to be completed over time to capitalize on it. This ensures that you are compliant and that you will not lose track of outstanding client needs, and will be prompted to take action to meet those needs at the appropriate time.

Step 5. Create a presentation for your proposal

The final step in preparing for your review meeting is to create the presentation you will deliver to your client. It should include a recap of their current situation, their goals and their risk profile. In your presentation you should check for their agreement with what you have found and ask if they have anything else they would like to discuss. And finally, you should present, in a clear and professional manner, your proposed solutions.

You can attach your presentation to the client record in Kronos Finance so that you always have easy access to it, and so that you have it as part of a demonstrable proof that you took a needs-based approach to addressing your client’s goals and are fully compliant.

The Kronos FNA tool not only integrates with your CRM but will automatically generate professional looking presentations ahead of your meeting. These presentations are compliant, can be branded with your logo, and will help demonstrate your level of expertise to your client.

Wrap up

The key to great preparation is to make sure you have a defined process for preparing for your client review meetings, one that will enable you to consistently take the same action each time, ensuring reliably effective results. Lean on your Kronos Finance CRM to help you manage the process. Take advantage of centralized data to review historical activity, current situation and client goals. Use the integrated Kronos FNA to engage your client ahead of the review meeting, making them more receptive to your solutions. Manage all of the preparatory activities through your Kronos Finance CRM to ensure your workflow is streamlined and efficient, and nothing gets missed. Following these steps will make your review meetings more efficient and effective, and will help you create awesome experiences for your clients.

Discover the second part of this article to learn how to make your client review meetings more efficient with Kronos Finance.


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