Institutional Banking
The early years of a financial professional's career are critical in establishing long-term success and building client relationships.


Building and maintaining a book of business as a rising financial professional can feel like a mountain to climb, particularly in a crowded environment. In fact, as of May 2021, there were more than 263,000 personal financial professionals in the U.S.¹ To stay competitive, financial professionals must use all available tools and resources to stand out to clients — thinking not just about short-term differentiation, but also the long-term value they can bring by engaging with them at every stage of their financial journey.

A strong client relationship is rooted in being a responsible steward of their financial well-being, but how can you sustain that trust over time? For financial professionals just emerging in their career, here are three tips to create and maintain client loyalty.

Foster Connections with Clients

The early years of a financial professional’s career are critical in establishing long-term success and building client relationships — the foundation of a financial professional’s portfolio. It is essential that financial professionals work hard to cultivate true connections, rooted in education and trust, to plant the seed for a financial partnership over the course of a client’s lifetime. Personal interactions, coupled with strategic counsel, can help ensure an overall positive experience and will help with client retention.

When looking to build business with longevity, don’t fall victim of the WIIFM (what’s in it for me) mentality in the short term. While you may have recommendations that don’t benefit your business immediately, that strategic guidance can help indirectly increase sales down the road. Being a trusted partner and saving your clients' money today may increase the likelihood that they’ll come back with lucrative opportunities tomorrow.

Seek Alternative Solutions

No two client portfolios are exactly alike, so the solutions offered should be bespoke as well. This is where the work of fostering client relationships is vital because to meet their needs and expectations, it’s necessary to know what clients’ personal financial goals are.

While there are many tried-and-true approaches to managing wealth, financial professionals should explore alternative solutions — particularly in challenging times — to support their clients. For example, if clients need to quickly access liquidity but don’t want to disrupt their current assets, consider an Insurance-Backed Line of Credit (IBLOC) as a potential solution.

An IBLOC offers liquidity through an interest-only revolving line of credit based on 95% of the cash value² of an eligible whole life insurance policy.³ For clients, an IBLOC is more resilient to market volatility, since it’s not tied to securities — enabling them to use the cash for real estate investments, business costs, debt consolidation, taxes and other use cases.⁴ But there are benefits for financial professionals too. By broadening your wealth management strategies with innovative options, such as an IBLOC, you can provide clients with sophisticated solutions — without needing additional certifications — and increase the potential for an expanded book of business.

Keep Up with the Latest Technology

Financial professionals can provide value to clients by not just managing their wealth, but doing so with simplicity. While managing diverse client portfolios can sometimes be a very complex process, there are tools available to bring convenience to wealth management and the financial professional-client relationship. By finding ways to make this process easy, you can maximize your clients’ dollars and their time.

For example, TALEA®, our proprietary loan origination platform, is designed to create a streamlined experience for clients. Not only can it be customized to their preferences, the technology enables speed and simplicity through automation, faster loan decisioning and funding, enhanced system security and more.

Embarking on a career as a financial professional can be a daunting endeavor. But, by finding the right balance between offering digital products to save clients’ time, personalizing interactions to foster and maintain relationships and offering strategic advice on innovative wealth management products, you will have the tools to succeed and sustain a long-lasting career.

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2. Subject to credit approval and underwriting.
3. Policy must be in effect for at least 12 months at the time of credit application. Line of credit is contingent on life insurance policy remaining in good standing. The insurance policy owner must be the borrower. Insurance policy must be issued by one of the following approved insurance providers to be eligible as IBLOC collateral: Guardian, MassMutual, Northwestern Mutual, NY Life, John Hancock, Penn Mutual.
4. An IBLOC cannot be used for the purchase of securities or to pay off a margin loan that was used to purchase securities.
Opinions, findings, or perspectives contained in this blog are those of the authors.