What, and what not, to say to a grieving client

While it is professional courtesy to maintain a certain emotional distance from one’s clients, inevitably, advisory services in the personal finance domain will, at times, involve dealing with the private matters of a client. These can be a death in the client’s family, the passing away of one's client, an unfortunate business crisis, or a job loss that a client may face. It is essential to be aware of the best ways to express one’s care and concern to a client going through a period of grief.

Here are some simple facts to remember when facing a grieving client.

Firstly, acknowledge the source of a client's grief.

Reaching out and making a personal connection during an emotionally difficult time can go a long way in strengthening a relationship. It can be the difference between losing a client to an unfortunate death and continuing the relationship with their next of kin. On the other hand, when you maintain a business-like tone and focus on the dry details of a nominee, for example, you may lose an opportunity to step in and offer wholesome support to a family in need. Sometimes, it pays to get a bit personal, enquire about their well-being, and submit your continued guidance.

Be circumspect and heedful of the situation.

When dealing with a grief-stricken client, there is certainly no one-size-fits-all approach. While some clients may accept the need to be open and emotional, others may prefer to keep their grief private. As an advisor, it may be prudent to gauge a client and be careful in extending your concern. Being too eager may make clients uncomfortable. But at the same time, it may be odd to completely shy away from addressing the source of one's grief. Instead, reach out with a few quiet questions and move the conversation forward with a natural flow based on the client's responses.

Be completely empathetic

Bring all your experiences together to try and put yourself in your client's shoes. Clients may appreciate you sharing your own experiences or those of others you know and learning to overcome similar circumstances. Offer to be patient and provide them time before they can make decisions. If you think it is in your client's best interest to make immediate financial changes, bring it up gently, taking extreme care not to make them feel rushed or stressed. Bear in mind that financial strategy usually takes a backseat in a client's life during grief.

Reach out to them

When a person experiences grief, it can be difficult for them to step out anywhere. As their advisor, it may be a good idea to visit a grieving client in their home instead of requiring them to come to your office. Even a simple, quick visit to your client to ensure they are doing okay can be a meaningful gesture. During intense grief, clients are unlikely to reach out to you; hence, the onus is on you to keep the connection and foster the relationship. If the situation involves a funeral or ritual, and if you consider yourself close enough to the client, paying your respects by attending the ceremonies is a good idea.

Go beyond your call of duty

Most clients or their families will probably be able to handle the stages of grief on their own. But there may be occasions when they may seek help. Being an investment advisor, you may want to be prepared to go that extra mile and extend your resourcefulness. In addition, as a professional in personal advisory services, you may want to build a strong support network that can come in handy to connect with clients at an individual level beyond just matters of investments. By helping to connect people in need to grief counselors, recruitment, and business advisory services, you are broadening your resourcefulness in the eyes of your clients.

For AMFI/NISM certified partners only. For private circulation only.

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