Teach Clients How to Buy from You
Most advisors believe their first impression happens in the initial meeting. They focus on their pitch deck, their website, even their office décor. But here’s the truth: around 70 to 80 percent of new advisory business comes from referrals. That means the prospect shows up with some initial trust already established because someone they know vouched for you. So, your first impression did not happen in the meeting. It happened outside the office, before you even entered the room. Which means you're not being judged on your pitch. You're being judged on the experience.
The prospect is there because they believe you might be able to help. Your job is to discover their problem and show them how to move forward. That’s not done in a slide deck. It’s done through clarity. Through making the next step obvious and effortless. That is where onboarding comes in. And that is why onboarding is actually your first impression.
Once a prospect agrees to move forward, what happens next sets the tone for the entire relationship. Do you create friction or confidence? Most advisors, if they are honest, will admit that next steps are often vague. Clients don’t know what’s expected of them or how to deliver it. They get sent on a choose-your-own-adventure: “I need statements, tax forms, and identity information can you get it to me by next week?” Or they’ll say, “My client associate will be in touch regarding next steps.”
But clients need guardrails. Like bumpers at a bowling alley. They need clear steps and structure. Otherwise, what should be a confident start turns into a confusing scavenger hunt.
Signs your onboarding experience is broken:
The information you receive is disorganized
You need to follow up more than once
Clients ask a lot of questions
You’re missing key information and have to circle back
You feel momentum wane after the initial call
No two onboardings ever feel the same
All of this happens because you haven’t made it clear how to buy from you. That’s the missing step: showing someone how to become a client.
The best experiences feel effortless. Walk into a McDonald’s, Amazon, or any major retail platform, and it’s obvious how to make a purchase. No friction. No confusion. Robo advisors are a great example. People visiting their websites instinctively know how to become a client. Why haven’t traditional advisors caught up?
Most referrals happen in the early days of the client relationship, which is why onboarding matters more than you think. If you're ready to fix it, start by treating onboarding like the first impression it actually is. Give your prospect the guardrails they need to become a client.