It’s September!
Kids are back in school, summer vacations have come to an end (boo), and we’re all settling back into our routines. For many financial professionals, this return to normal is also the perfect time to reignite seminars and refill client acquisition funnels. As you gear up to ramp up your lead generation activities, here are some tips to help you manage the upcoming surge of work and keep your business running smoothly.
Can a surge in demand hurt your business?
Too much of a good thing can sometimes backfire. Early in the days of Groupon, I met a business owner who ran a car detailing service. They offered what seemed like a regular Groupon deal but completely underestimated the demand. The flood of customers overwhelmed their capacity. Unsatisfied buyers began leaving negative reviews, and as we all know, unhappy customers love venting online. The staff, frustrated by the chaos, started quitting. Soon, the owner was left with terrible reviews, no staff, and an unrecoverable reputation. They ended up refunding the Groupons, selling their equipment, and closing up shop. The surge in demand, without proper planning, led to their downfall.
While this may be an extreme case, it illustrates how an unanticipated surge in demand can cripple operations and damage your reputation.
In fields where reputation is everything, like financial services, poor reviews can be fatal. Many financial professionals face similar challenges after seminars, so here are some best practices to avoid getting snowed under by too much demand.
Identify your team’s best use
Could your entire staff stuff envelopes for seminar mailers and save you some money? Sure! But what essential, value-generating activities would they be neglecting in the process?
In my 20+ years in the industry, countless independent studies have shown that the highest-value activities are those where you and your team directly engage with clients. It’s these interactions that clients see as your true value. Non-client-facing tasks, while necessary, don’t contribute to the perception of your service. Your clients won’t care if you hire a cleaning service to tidy your office, but they will care if your team is too busy stuffing envelopes to provide excellent service.
Outsourcing studies consistently show that the most successful firms are those that prioritize client-facing activities. You need to identify what your clients perceive as valuable and ensure those tasks remain your focus. During a “seminar surge,” offload non-essential tasks first.
Top Client-Facing Activities to Prioritize
- One-on-One Meetings – These interactions drive the most perceived value for clients.
- Financial Plan Reviews – Ensuring clients are on track and feel supported.
- Client Onboarding – Seamless onboarding is key to a positive client experience.
- Advisory Sessions – Personalized advice sessions reinforce your expertise and build trust.
Have backup plans for key roles
Small businesses often don’t have the redundancy or scalability needed to handle every surge. Consider the tasks that take the longest to train or are hardest to perform consistently across team members. Now imagine that the person responsible for that task is suddenly unavailable. Would your business grind to a halt, or do you have a backup plan?
Single Points of Failure to Consider:
- Financial Planning – If one team member handles this, have a backup person trained.
- Client Communication – Ensure multiple people are able to respond to client inquiries in case of absence.
- Technology – Have a plan for tech support in case your primary IT resource is unavailable.
Financial planning, for example, is often handled by one person. If others are involved, the quality can vary significantly. Plan for these scenarios so your client acquisition doesn’t come to a standstill.
Build a buffer into your client experience
As a financial professional, it’s natural to want to respond to client requests as quickly as possible. But often, clients don’t mind a longer response time—within reason—if you set proper expectations. Missed expectations, not longer wait times, are what lead to dissatisfaction.
Client Experience Best Practices:
- Set Clear Expectations Early – Let clients know up front what your typical response time is for inquiries.
- Add Buffer to Your Deadlines – Build in extra time for completing deliverables to account for unexpected events.
- Stagger Client Meetings – Avoid overloading your schedule by spacing out onboarding and review meetings by at least 1–2 weeks.
Establish a realistic timeline for delivering client services, and then add a buffer to account for the unexpected. For example, having at least a week between onboarding meetings is a good baseline, and 2-3 weeks is even better. Scheduling meetings in advance allows you to plan for demand and manage your capacity more effectively.
Plan for bottleneck relief
It’s essential to plan for relief when demand spikes beyond your estimates. Bottlenecks can create a traffic jam in your workflow, stressing your team and leading to missed client expectations. While small businesses often can’t afford to staff for surges, having flexible options to relieve bottlenecks can be invaluable.
Relief Strategies for Common Bottlenecks:
- Outsource Non-Essential Tasks – Consider outsourcing tasks like document preparation or marketing.
- Leverage Technology – Use automation tools to handle routine tasks and free up your team’s time.
- Cross-Train Staff – Ensure team members can step in to handle key tasks if needed.
Surge capacity, especially in non-client-facing tasks like financial planning, can make all the difference when demand spikes. This is one reason I’m excited to be the first in the industry to offer a solution to help financial advisors handle this challenge.
With some foresight and planning, you can avoid being overwhelmed by a surge in demand after seminars.
Identifying relief options for non-client-facing tasks, like financial planning, is a key strategy to ensure your business thrives this fall. By prioritizing client-facing activities, having backup plans for critical roles, and building in buffer time for unexpected challenges, you’ll set your business up for sustained success.
Warm regards,
CEO & Co-Founder of PlanScout
Ps. Want to connect? Feel free to book a meeting with me now and follow PlanScout on LinkedIn.
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