This conversation may be daunting, but the consequences of making a move without a solid rationale are infinitely worse. If you can't offer a good explanation for your move and a reason why it will benefit your clients, they are likely to question your motives, either overtly or silently. If you offer them only a better compensation package or some vague promise of a better something-or-other, you're putting a rather large strain on your credibility and their loyalty. On the other hand, if they are unreservedly satisfied with your current firm and you move anyway, you have a problem that defies justification.
If you decide not to move, the client interaction will still be useful. It will improve your relationships by demonstrating that you care what they think. Few things cement your bond with your clients as firmly as asking for their feedback. A long time ago, a successful and pretty bright mentor told me, "Never assume because your clients aren't complaining that everything is all right. Always take their temperature before they come to you with a fever."
Edward K. Riley is chairman of E.K. Riley Investments, LLC, a full-service independent brokerage and investment advisory firm. Headquartered in Seattle, WA., E.K. Riley has eighteen west-coast offices. He can be reached at 206-832-1524 or [email protected].