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INPractice for July: Successful Events from Top Advisors
Week 1: An evening of worldly wines and fashion
Week 2: Gardening is golden (and nutritional)
Week 3: Retirement management simplified: health care options, rollover distribution reviews and assisted-living alternatives
Week 4: Spreading the cheer – a holiday charity event at a local children’s hospital
The problem: In June, we discussed the value of creating lifestyle events for top clients built around their interests, not yours. You now have the tools — strategies, invitation and agenda templates, and event management checklists — to deliver high-value, low-cost events. The challenge is execution. How do you actually deliver powerful lifestyle events with limited time and resources?
The solution: Each week during July we will examine a top adviser’s successful lifestyle event. We’ll include start-to-finish details, the strategies to duplicate the event in your area and the follow-up plan.
This week: An evening of worldly wines and fashion
Goal: Cement ties to your top clients and attract new clients just like them by supporting a local charity.
Time commitment: Approximately 5 hours, including the event.
Cost: $2,000.
How one adviser did it: After assessing his top clients’
clients’>interests, the adviser found that fashion was a strong interest among his top clients or their spouses, so he identified two charitable fashion shows conducted by a local branch of Nordstrom, the popular national upscale department store.
The event itself is a benefit for a local historical society, and is intended to raise funds for new exhibits. The event is held at the museum with pre-show wine tasting tables and hors d'oeuvres. The event is very popular and sells out quickly. It also provides a great networking opportunity for his clients — all at an event that supports a charitable cause and is totally organized by the sponsoring organization!
Fashion event planning checklist
Do now:
Call your selected department store, identify upcoming fashion events, and reserve seats. Consider doing two events a year: one in the spring and another in the fall. The store may refer you to the charity’s event coordinator, but we suggest starting with the store.
Reserve a set number of seats; ask for a reserved area at the event for your guests to gather during the reception and request runway assigned seating together. This is critical in order to set the atmosphere for the event upfront. Get to know the event coordinator and look for ways to streamline communications (e-mail versus phone calls). These events often are sold out early.
Suggestion: Our adviser requests a roped off seating area along the runway for his group with his name and firm on the area. At first he was told this couldn’t be done, but now he is conducting his third event and they set it up automatically. .
Review the events invitation policy. Our adviser sends his clients a reserve-the-date note inviting them to the event three months in advance. The store’s event coordinator takes care of sending out the invitations, tracking reservations and making follow-up calls the week before the event.
Reserve an area for your group to gather. If you have enough guests, ask for a separate food table and bar. Our adviser tries to set aside a small room to have a brief introduction meeting and welcome his guests (keep this to no more than 15 minutes). This makes your event feel exclusive and private.
E-mail a confirmation to the coordinator confirming the number of seats, separate meeting area and roped off or assigned seating together. Consider having them put your business card into the invitation.
Time commitment for your assistant to plan the event: Two hours
Three weeks before the event:
Call the event coordinator to confirm the status of the guest invitations, confirm your gathering area or meeting room and guest seating by the runway.
Set the agenda for your brief welcome meeting and let guests know you will call them the following week.
Suggestion: Invite guests to bring their spouse or a friend to create referral opportunities.
Follow-up after the event:
Have two follow-up e-mails prepared (one for referrals and one for clients) letting them know you will be contacting them. Send the e-mail early the next morning.
Call each attendee within 48 hours and schedule follow-up meetings with referrals.
Total Event Cost: Tickets for a charity fashion show can run $75 to $150, depending on food and drinks served. Assuming 20 guests (10 clients, 5 spouses, 5 friends) at $100 each, that’s $2,000. A charitable event may be tax-deductible. This is a minor expense and most of the work has been done by the event coordinator, not you or your staff.
Sample “Save the Date” e-mail
Please Join Us For An Evening of Worldly Wines and Fashion
You and a guest are invited to be our guests at the Spring Fashion Gala held at the Main Street Historical Society. The evening will be filled with wine tasting from some of the world’s finest vineyards and fashions from trendy designers to jumpstart your spring wardrobe. We are proud to be a supporter of this event and the proceeds support the historical society’s new exhibit.
Please mark your calendar to join us on (date and time) for an evening that promises to be exciting while raising awareness for a very important community project. You will receive the complete details and invitation next month. Please call us with any questions.
Best regards,
(Name and Firm)
Next week: Gardening
Maureen Wilke has helped thousands of advisers increase the value of their businesses. The founder of Wilke Associates Inc. (www.connectedadvisor.com) in Glen Ellyn, Ill., Maureen has spent nearly two decades in executive positions in wealth management, sales and training. She has been associated with several highly regarded firms, including Nuveen Investments, and currently advises many product and advisory firms on issues of practice management and adviser productivity.
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