No one wants to lose a client, but in the benefits industry, it's sometimes unavoidable. In some cases, the circumstances that lead a client to switch brokers are totally out of the advisor's control — like a business sale, for example.
But in other cases, there may have been warning signs, and some strategic reflection can be really valuable. There are a few areas in which brokers should be certain they're offering the best service possible, because these are often the pain points clients experience when they make the decision to switch and find a new advisor.
So why do clients switch brokers? As you reflect on 2018 and plan for the year ahead, here are some things to consider.
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