Covid restrictions have kept us confined. Everyone is eager to spread their wings. TV news programs talk about delays at airports, but lots of people are flying abroad or taking cruises. You might think a client’s vacation has nothing to do with the investing relationship, but there are several ways you can stand out and wow them.
Twelve Ways To Create A Positive Impression
In no specific order, here are 12 ways you can improve your client’s vacation experience.
1. Suggest they provide an itinerary. We always prepare an itinerary with our flight and hotel details. We e-mail this to our advisor. Although you might think the client would wonder why you need it, what you are actually delivering is peace of mind. Your client might check on the stock market from time to time. They might get upset. You can let them know you have their itinerary and if any emergencies came up, you would be in touch. They can rest easy, forgetting about their investments, knowing you will reach out if necessary. We were in France when the market tanked in 1989. We watched the TV news. The financial news showed a long trading desk. If people were typing away, things were OK. If they were running around and screaming, things were not.
Rationale: You are providing peace of mind.
2. How are they handling travel insurance? The big concern regarding Covid is sudden changes in the testing requirements. Suppose your client was overseas, then the United States decided it wanted everyone entering to show a negative Covid test. Your client tested positive and couldn’t board the plane. They would be in a quarantine hotel in a foreign city for several days. Who pays? They should investigate travel health insurance that specifically covers Covid.
Rationale: You might not sell it, but they are forewarned and can do the research.
3. Put their debit card in travel mode. There is a lot of fraud around. If the client’s bank is used to seeing cash advances in their local area and suddenly, they start appearing in Europe or South America, alarm bells might go off. Our financial advisor lets me know our debit cards are put into travel mode for the dates we are traveling. Your client should call their credit card company and do the same.
Rationale: It is scary to be overseas and discover you can’t get cash. You are trying to head off this problem.
4. Discuss how they can get cash overseas. Their debit card should work in ATM machines in that country. Sometimes there is more than one network of affiliated banks. Which banks should your client seek out? They should also get some walking around money in local currency before they get on the plane. If you are an advisor affiliated with a bank, you may be able to help.
Rationale: They might know this already, maybe not. It shows you are thinking ahead.
5. Buy them a high-quality map of the area. Many people fly to a foreign city, then get the tourist map the hotel hands out at the concierge desk. They often provide only an overview, listing only major streets. That historic site that appears to be only three blocks away might be 30 long blocks away! Either go online and buy them a map or stop at your local Barnes & Noble. In London, the “A to Z” is the famous map book for the metropolis. The AA (Automobile Association) produces large soft cover map books with a few miles to the inch—very detailed. Other countries do the same.
Rationale: This helps them plan their route and activities.
6. Buy a good travel book. Many people do not plan ahead when they travel. They take a cruise, stop at a port and wander off the ship with the crowd. But them a good travel book about the specific city they will be visiting. They will appreciate knowing the highlights and must-see sights. Often, these books have “one-day and two-day” itineraries. It makes exploring easy.
Rationale: They will enjoy reading it in advance of their trip. They will get excited.
7. Discuss your travel experiences in the area. If you are well traveled, this is an opportunity to forge a bond with your client. Share favorite restaurants and shopping experiences. Have you stayed at their hotel?
Rationale: If they are veteran travelers, they will enjoy exchanging stories. If they aren’t, they can learn from your experiences. You will come across as well traveled.
8. Buy the Michelin red book for that city. Michelin is considered the world authority on fine dining. The green books are travel guides, the red books are restaurant guides. Buy them the red book for a specific country or city.
Rationale: Many HNW individuals are foodies. They will want to try the best food the city has to offer. Giving them the book in advance will help them book reservations.