How to Make Your Performance Reports More Enticing to RIA Clients

In the most certain terms, performance reports are the most important service that RIAs can offer their clientele. RIA performance reporting is what separates RIA services from bots and algorithms that can be purchased for far less than a qualified RIA. It is therefore essential that RIA performance reporting manages to satisfy and entice clients into continuing to use RIA services. The following are 3 ways that you can make your performance reports more essential, beneficial and ultimately more enticing for your current clientele.

Integrate financial progress into performance reports
Performance reports should not be all about financial returns. Financial returns are short-term measurements that may be visually appealing when laid out precisely on a report page, but they are often next to useless for clients who are using RIA services to meet more specific financial needs. Your RIA performance reporting should contain clear information about the financial progress of the client towards their current financial objectives. This type of nuanced emphasis is what will separate RIA services from bots and programs.

Discuss with your client about what they want from their report

RIA performance reporting needs to contain all of the necessary information needed for clients to understand their current financial status. However, you should have a clear discussion with your client about what they are hoping to get from their performance reports. Measurements of financial progress from a specific holding? Current marketing value of a real estate venture? The more specific you can encourage the client to be, the better; this way, you will be able to refocus the performance report into something that the client finds highly valuable.

Springboard your services from performance reporting

RIA performance reporting is about much more than simply delivering a report and allowing a client to look it over at their leisure. Your RIA services can and should springboard from performance reports, ideally within short notice or even immediately. In addition to the benefit of using performance reports as the analytical springboard for decisions regarding your client’s financial holdings, this type of spring boarding allows your client to see your RIA services for what they are: a tangible, effective and worthwhile service that they should continue to use.

Final Thoughts

Performance reporting may not seem like the place for changes and creativity, but it is a simple fact that performance reports are best utilized when they are customized to suit a particular client’s needs. Their needs from their RIA can be more easily met when they have an organized report which lays out the most essential financial information they have; and as an RIA, it is an integral part of your work to transform how your clients view your performance reports, so that they can see the reports (and your services) as worthwhile and more than worth the money spent.

For more details, visit us at www.reportwa.com. If at any point in your ReportWa journey you need help, just mail us at hello@hexaviewtech.com and we’ll get back to you within a few hours or In case you want to connect with me personally, lets connect on LinkedIn.