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Cashflow modelling is an integral piece of the puzzle when it comes to working with new clients. But as time goes on, and your relationship with clients develops, it is easy to forget how important this aspect of your advice process remains.

Revisiting the cashflow modelling during your review meetings is a great way to re-engage with your clients and help them maintain ownership of their financial decisions. By helping you demonstrate the progress they have made towards their financial goals, cashflow modelling also reinforces the value of your advice in the client’s mind.

When preparing for your review meeting with clients there is plenty of background work to be done, around ensuring that strategies are working, and investments, insurance etc. are tracking as expected. When it comes to the actual meeting you want to wow your clients, and remind them of what they have achieved and what they are working towards.

There are four great ways to use cashflow modelling during your review meeting to renew engagement and grow your client relationships and wow your clients;


1. The Look Back;

Looking back to where they started before implementing your advice is extremely powerful, as it gently reminds clients of the value you have added and how you helped them navigate big decisions. More importantly, it shows the clients what they are capable of when making some small changes to their life. It is a subtle pat on the back.


2. Where Are You Now?

Clients want to know how they are tracking, and what their current position is. When you contrast this with where they started it is immensely powerful and amplifies the power of advice.

Continuing to check in on how they are progressing never gets old and when you are able to produce this from your modelling software in front of them it becomes really clear and easy for the client to understand, to visually see their progress and feel good about it. There is extensive research showing the positive psychological impact the review meeting can have, and being able to demonstrate their progress through simple yet powerful visuals absolutely reinforces this impact.

This is so important because some client goals are really big and involve long-term plans; buying property, children’s education etc. and we know that it is easy to get off track if clients can’t easily see their progress towards these big goals.


3. The ‘Off Track’ Chat

Discussing and demonstrating what happens if they are off track is equally as important as what is working. Sometimes clients do go off track, undermining their ability to achieve their goals. There can be many reasons for this, ranging from controllable, such as their own behaviours, or uncontrollable external factors such as investment returns. If it is client behavior that is the issue, then a visual clearly showing the impact of their behaviours is a powerful tool to lead the discussion. Utilising cashflow modelling and going through this together in the review meeting is an opportunity for discussion and moving forward, coming up with an action plan to get things back on track or if required updating this situation to find a more achievable outcome.


4. Levers to Accelerate Progress

In between reviews, client circumstances can change a great deal. They may have had a pay rise, changed jobs, increased income, been gifted money or changed their goals. Whether you grab this information before the meeting and pre-prepare your modelling or update it as you go, it is an opportunity to show clients how they can make the best use of any new funds.

You can discuss how they can supercharge their progress and then share a visual on the net effect on the rest of their finances. Or if they have a new goal, you can demonstrate what that looks like financially so they can visually review the impact of their decisions. This creates the opportunity to guide clients to make the best financial decisions. Your clients will feel empowered by making good decisions based on having all the relevant information.

When working with younger clients there may not be a lot of surplus cash to put towards longer term goals.  By setting up a cashflow model and checking in with it at review time you can demonstrate to your clients that whilst for the next 1 or 2 years things are tight and progress may be slow, in subsequent years they will have greater surpluses to be able to put towards their goals and progress will be accelerated. This can give clients peace of mind that they are on the right track despite the seeming lack of progress in the immediate future.

Having this visibility and regular check-in is very powerful for clients, who can easily become disheartened and lose motivation if they don’t see any progress. By checking in regularly and showing their progress you will be giving them that extra push to stay on course. You will be able to show them that ultimately, they will be able to achieve their desired outcomes.

Revisiting cashflow modelling in review meetings is an incredibly powerful tool; it changes the conversation from a dry one focused on investment returns, product discussions and high-level strategy conversations, to a more engaging one which uses powerful visual aids to demonstrate client progress and client possibilities, providing the security of knowing they have a clear plan they are working towards. This is a tangible way to demonstrate the power of financial advice and take your client engagement to the next level.

Find out more about how cashflow modelling can be used to wow your clients during review meetings here