2023 Financial Advisors’ Guide to Client Gifts
In a competitive industry like financial services, trust and loyalty are everything — so it’s worth investing in tools and practices that are effective for building strong relationships with clients. One of the most powerful ways to engage with your clients and create meaningful connections is with thoughtful client gifts.
You may be wondering, why are client gifts for financial advisors so important? It’s all about the psychology of gift-giving — not only are humans hardwired to respond positively to gifts, but client gifting especially can yield really meaningful business results. That is, when it’s done right!
So all financial advisors, bankers, and other finance professionals out there — take note! In this blog post, we've got you covered with alllll things client gifting. We'll dive into why client gifts for financial advisors are important, corporate gifting dos and donts, how gifts strengthen relationships, and even how they can boost client retention and referrals. And of course, we'll first give you a guide on choosing the perfect client gifts, with creative ideas and best practices for implementing them.
Examples of Client Gifts for Financial Advisors
Get inspired for your client gifting program with these awesome gift boxes we designed for all kinds of financial professional services: investment banks, wealth management companies, and other financial institutions.
Branded gifts that promote your financial services
Client gifts are a great opportunity to provide a high-quality gift that also promotes your brand’s services.
Take this gift we designed for Stage 2 Capital’s clients as an example — not only does this gift have a gorgeous branded packaging suite, but it includes premium products like a Moleskin leather notebook and a large insulated travel mug, both tastefully branded with the Stage 2 Capital logo.
Give your clients products that they’ll actually use, like branded headphones, and your brand will end up in front of a lot more eyeballs!
Onboarding gifts for new clients
Lido advisors take a “proactive and holistic approach to wealth advisory” and they “know their clients on a first name basis.” So it’s no surprise that they have a super strong client onboarding program!
Take a page out of their book and welcome clients in style with a thoughtfully curated gift box! Pick items that get clients excited about working with you and show your dedication to building a knowledgeable, trustworthy relationship. For example, focusing on small businesses can display your compassion for the community and make a difference. See the Gifts that Give Back collection in our Corporate Catalog for a few options right up this alley, including consciously designed custom socks and ethically sourced coffee.
Don’t forget a thoughtfully written custom notecard as well! It can speak wonders about your character.
Luxury gifts for VIP clients
Searching for the *perfect* gift for your VIP clients is a lot of pressure — we totally get it. When in doubt, opt for smart, sophisticated and luxury gifts, like The Executive. As part of the luxe collection in our Corporate Catalog, this gift is perfect for dazzling those hard-to-impress clients.
With a sleek monochromatic look, plus luxury items like a black linen notebook by Appointed Co., gourmet coffee by Onyx Coffee Lab, a wireless charger by Courant, this gift oozes with class. Not only is it practical, but The Executive conveys a sense of professionalism and attention to detail they’ll be sure to notice.
Useful gifts that provide value to clients
Are you offering new financial services or have a big announcement to share? Surprise your clients with a thoughtful and functional gift to share the news! Just like your new offering, a useful gift partnered with something more indulgent allows your clients to celebrate immediately as well as for the years ahead.
Bread Financial provided their clients with an unexpected gift featuring a full cocktail set that they could enjoy all year round, plus the fixings for a celebratory drink they could mix up as soon as the clock hit happy hour.
But most importantly, Bread Financial used their surprise send as an opportunity to share new tools and resources available to clients through the launch of their new app. They even included a QR code that linked directly to a case study so their customers could learn more. This approach definitely beats a boring email, if you ask us!
For bonus points on your own send, consider adding a branded bluetooth speaker to truly keep the celebration going, whenever, wherever.
Experiential gifts to create memorable experiences
Treat your clients to an extra special gift that’s centered all around a special experience.
Take these gifts we designed for BNY Mellon as an example. After the Washington Nationals won the World Series, they planned an exclusive event for their clients in the DC area to celebrate the win.
These gift boxes served as their invitation, and they had a special guest speaker from the Nats come for the occasion. The gifts also included season tickets for the following season. Talk about a gift that keeps on giving!
It was not only a brilliant way to show client appreciation, but it was also a fantastic way to get clients excited about their relationship with BNY Mellon – who certainly had no problem staying top-of-mind all year long.
Why Are Client Gifts Important for Financial Professionals?
So, why are client gifts so important for financial professionals, bankers, and advisors? Sure, your expertise and guidance are valuable, but let's not forget that your clients are more than just numbers on a spreadsheet! They're individuals with emotions, desires, and expectations.
Client gifts help bridge the gap between the practical and the emotional, adding that personal touch to your advisor-client relationship.
By showing your appreciation through thoughtful gifts like branded headphones or branded notebooks, you demonstrate your dedication to your client's financial well-being. It goes beyond your professional duties and shows that you truly value your clients and want to see them succeed. Plus, it opens up opportunities for deeper connections, building trust, loyalty, and long-term partnerships.
How Client Gifts Can Shape Business Relationships
When you give clients a thoughtful gift that aligns with their interests and preferences, it makes them feel valued, recognized, and cared for. It shows that you've taken the time to understand them on a personal level.
That personal touch goes a long way in building trust and camaraderie. Your clients will see you as more than just a service provider - they'll see you as a trusted confidant and partner.
You read that right! Client gifting can have a major impact on client retention, which can have pretty significant implications for your business. Think about it: It's way more cost-effective to keep existing clients than to find new ones. When you give clients gifts, you reinforce that bond, remind them of the value they receive from you, and solidify their loyalty.
Similarly, client gifts are a great way to score that extra referral. Because when your clients receive an awesome gift, they're more likely to share their positive experiences with their friends, family, and colleagues. That word-of-mouth marketing can lead to valuable referrals and help grow your client base.
Best Practices for Financial Advisors Giving Client Gifts
Want to leave a lasting impact and enhance your relationships with clients through thoughtful gifts? Look no further! We've got you covered with key strategies and corporate gifting dos and donts that will help you navigate the art of gift-giving as a financial advisor.
Timing and Frequency
Knowing when to give gifts and how often is super important. You gotta remember special occasions, but also remember to keep cultural and religious factors in mind, too. It's all about finding that sweet spot between being consistent and going overboard. Just make sure your gift-giving matches what your clients expect and fits your business goals and you should be good to go!
Make sure you keep a good record of the gifts you give to clients. That way, you can look back on what you've given before and customize future gifts to suit their tastes. Set up a tracking system with all the important details like when, why, and what you gave them, and even any feedback they gave. This way, you'll be able to keep giving thoughtful and well-received gifts in the future. Easy peasy!
Professionalism and Ethics
When it comes to giving gifts, always keep it professional and above board. Steer clear of flashy stuff that could come across as manipulative or shady. Instead, go for thoughtful gifts that show your genuine appreciation and can help your clients out financially. And don't forget to stick to the rules and guidelines set by your company and industry.
Written by Lisa Cox. Updated February 2024.
Gift Sets and Corporate Options
If you're looking for bulk options for employees or clients, learn more about our corporate gifting capabilities. Our team of gifting pros will curate a custom gift for your company or event. Picture unique products with branded packaging and even branded swag your recipients will love!