There’s a quiet truth in financial planning that few professionals like to admit out loud: if you don’t pay, you don’t stay. It sounds transactional – almost crude – but the underlying behavioural dynamic is anything but. In fact, it cuts straight to the heart of one of the biggest challenges in client retention: perceived value.
In a profession where many planners work on commission or assets under management (AUM) models, it’s easy for clients to forget that they are, in fact, paying for an ongoing service. There’s no monthly debit order that they see. No invoice that reminds them of your worth. And when the cost feels invisible, so too can the value. This is where regular, human-centric communication becomes essential.
The perception of value
In behavioural psychology, this is known as effort justification, a principle within Festinger’s cognitive dissonance theory (Festinger, 1957). It shows that the more effort or investment a person makes, the more likely they are to value the outcome. In a financial planning context, when clients feel invested, emotionally or financially, they’re more likely to stay engaged. But what happens when clients don’t feel like they’ve invested anything?
Without clear and consistent communication, even your most valuable clients can begin to disengage. Not because the work you do isn’t important, but because it hasn’t been visible, relatable or relevant in their lives. It’s not a reflection of your value; it’s a reflection of how they perceive the relationship when they’re not reminded of the positive difference it is making in their life.
What happens when clients don’t feel like they’ve invested anything?
The human touch
I’ve seen this play out often. Financial planners pour hours into technical excellence, regulatory compliance and strategic portfolio construction, but struggle to consistently show up in their clients’ lives in ways that feel personal and meaningful.
A quarterly performance report or a dry product update just doesn’t cut it any more.
What people crave, especially in times of uncertainty, is conversation, not just information. They want stories that reflect their own financial journeys. They want insight into how others are navigating similar life transitions. They want to feel understood, not just advised. They want to be seen, not just sold to.
This is why I believe that content is not the endgame; it’s the starting point. A well-crafted blog, newsletter or social media post should feel like the beginning of a conversation, not the closing of a sale.
Building trust
Trust isn’t built in a single meeting. It’s forged in the small, consistent moments between meetings. In the thoughtful email that lands when a client’s parent falls ill. In the blog that names the fear they’ve been carrying about retirement. In the LinkedIn post that reminds them that wealth is measured not just in money, but in meaning.
Content strategies that work are those that mirror real life. That speak to the messy, emotional, human side of money and not just the spreadsheets, benchmarks and awards evenings. And when your communication regularly addresses what your clients are going through, you create an experience of care that’s hard to walk away from.
Conversation over conversion
Too many communication strategies are built around conversions. Click rates. Call bookings. Product pushes.
But the planners who thrive are the ones who understand that conversation precedes conversion. These are the planners who use communication not to transact, but to connect. Not to inform, but to engage. When a client feels emotionally invested, they’re far more likely to stay financially invested too. So, how do you start?
- Be strategic. Don’t just create content – create conversations. Ask questions. Invite replies. Follow up personally.
- Be client focused. Make your communication about them, not you. Talk about their life, not your service.
- Be authentic. Share stories, not stats. Use everyday language. Let your personality through.
- Be consistent. Whether it’s daily, weekly, monthly or bi-monthly (depending on the medium and platform), create a rhythm your clients can rely on.
Because at the end of the day, the fee isn’t just financial. The real fee is trust; yours, and theirs. And the planners who continue to earn it, month after month, are the ones whose clients don’t just stay… they grow.
Let’s stop hoping that loyalty will hold without consistent connection. Show up. Stay in touch. Build something worth staying for.
