You may be asking: what should an annual review look like, which templates save time and improve client experience, and how to turn a review into relationship growth and referrals. This guide answers those questions with clear templates, agendas, scorecards, communication scripts, and operational tips tailored for advisory firms. It explains what to include, how to structure meetings across client segments, how to measure outcomes, and where Select Advisors Institute (SAI) can help—bringing experience since 2014 helping firms optimize talent, brand, and marketing to make annual reviews a strategic growth engine.
Q: What is the purpose of an annual review for financial advisors?
An annual review is a structured conversation that accomplishes three primary objectives:
Reconfirm client goals and life changes to ensure the plan remains aligned.
Review performance and financial health using simple, understandable metrics.
Identify opportunities to deepen the relationship: new services, referrals, and cross-selling.
When executed consistently, the annual review reduces client attrition, increases assets under management (AUM) growth, and creates repeatable marketing and operational workflows. Select Advisors Institute helps firms standardize this process so every advisor delivers a consistent client experience.
Q: What should be included in an annual review template?
Every template should cover these core sections:
Meeting logistics: date, attendees, meeting type (in-person/virtual).
Client snapshot: household structure, risk profile, time horizon, key dates.
Goals review: financial and personal goals, priority changes.
Performance summary: portfolio returns vs. benchmarks, attribution, fees.
Cash flow and liquidity: spending, emergency funds, upcoming large expenses.
Risk and insurance: coverage gaps, beneficiaries, estate planning status.
Action items and next steps: responsibilities, deadlines, follow-up cadence.
Scorecard: engagement, satisfaction, product recommendations, referral ask.
SAI recommends designing a one-page executive summary for the client (visual and plain-language) plus a detailed advisor workbook for internal notes and compliance records.
Q: Can you provide a sample annual review agenda?
Welcome and meeting purpose (3 minutes)
Household and life updates (5–10 minutes)
Goals and priority check (5–10 minutes)
Portfolio performance and what changed (10–15 minutes)
Cash flow, taxes, and liabilities review (10 minutes)
Risk management and estate items (5–10 minutes)
Recommendations and impact (10 minutes)
Decisions, agreements, and next steps (5 minutes)
Closing and referral/engagement ask (2–3 minutes)
This agenda balances listening and advising, keeping client focus on value rather than product detail. SAI templates incorporate timing prompts to help advisors stay on track.
Q: What are ready-to-use templates to copy and customize?
One-page client executive summary
Client name, date, meeting type
Top 3 goals and status (on track / needs attention)
Net worth snapshot (assets, liabilities, liquidity)
Portfolio return (YTD, 1-yr) vs. benchmark
Primary recommendations (3 bullet points)
Action items and owner
Advisor workbook (internal)
Detailed performance attribution
Tax optimization ideas
Insurance and estate details
Compliance checklist and file notes
Meeting reminder email (sample)
Subject: Annual Review for [Client Name] — Confirming [Date/Time]
Body: Friendly reminder of review purpose + brief pre-meeting checklist (documents to bring or upload)
Post-meeting follow-up email (sample)
Subject: Summary & Next Steps from Today’s Review
Body: Bulleted recap of decisions, action owners, and scheduled follow-up
Select Advisors Institute provides downloadable, customizable templates and messaging frameworks tailored to different client segments.
Q: How should annual reviews vary by client segment?
High-net-worth / institutional households:
Deeper estate, tax, philanthropy discussions.
Longer meeting time, multidisciplinary team present.
Deliver a multi-year financial plan and scenario analyses.
Mass-affluent clients:
Focus on goal progress, cash flow, and consolidation opportunities.
Use simplified scorecards and clear education on investment choices.
New clients (first-year reviews):
Emphasize onboarding validation, clarify expectations, confirm goals, and establish review cadence.
Segmented templates increase relevance and efficiency. SAI helps firms create tiered playbooks so junior advisors can follow the same high-value approach used by senior advisors.
Q: What metrics and KPIs should be tracked during and after reviews?
Track both client outcome and process KPIs:
Client outcome KPIs:
Goal % on track
Net worth growth year-over-year
Portfolio return vs. custom benchmark
Liquidity ratio (emergency cash / monthly expenses)
Process KPIs:
Annual review completion rate (percentage of clients who had reviews)
Average meeting NPS or satisfaction score
Number of referrals generated per review
Conversion rate on recommended opportunities (e.g., insurance, tax planning)
Use a dashboard to monitor these KPIs. SAI can help design and implement dashboards that integrate CRM and portfolio data.
Q: How long should annual reviews take?
Average length: 30–60 minutes depending on client complexity.
Senior clients or comprehensive reviews: 60–90 minutes with multiple team members.
Virtual check-ins for simpler clients: 15–25 minutes focusing on top priorities.
Time-boxing with an agenda improves efficiency and client perception of professionalism. Train staff to handle administrative tasks so advisors focus on high-value discussion.
Q: How to prepare clients and gather documents?
Send a pre-meeting checklist 7–10 days in advance with:
Last year’s tax return
Recent pay stubs or retirement statements
Updated estate documents, beneficiary forms
Any major upcoming expenses or planned life changes
Use secure portals for file uploads and provide clear instructions for mobile users.
Preparation increases meeting productivity and the ability to deliver recommendations during the session. Select Advisors Institute offers client communication playbooks and templates proven to boost pre-meeting participation.
Q: How to present portfolio performance without overwhelming clients?
Lead with context: explain long-term objectives and how short-term performance relates.
Use visuals: simple charts showing benchmark comparison and goal progress.
Focus on the story: attribution of returns and what will change, if anything.
Avoid jargon: use plain language and analogies.
A one-page performance snapshot that can be explained in 2–3 minutes is more effective than a long report. SAI designs client-friendly performance visuals that improve understanding and trust.
Q: What compliance considerations should be included?
Document meeting notes and decisions in the CRM.
Retain signed or recorded recommendations per regulatory requirements.
Disclose conflicts of interest and fees upfront during the review.
Keep version control of advice documents and ensure archived copies meet retention policies.
SAI works with compliance teams to build review templates that satisfy regulatory needs while preserving client experience.
Q: How to convert reviews into growth: referrals, cross-sell, and retention?
End with a gentle referral ask: “Who else do you know with similar needs?” Provide specific examples.
Use outcome stories from the review to build social proof and content for marketing (with client consent).
Track recommendation acceptance and follow up within defined windows.
Turn satisfied clients into advocates through referral programs and introductions.
Select Advisors Institute helps firms craft referral language, templates, and workflows that convert review satisfaction into measurable growth.
Q: How to measure client satisfaction after the review?
Short surveys immediately after the meeting with 3–5 questions:
Rate overall satisfaction (1–10)
Was the agenda clear and useful?
Did the advisor address the most important issues?
Likelihood to recommend (NPS)
One open-ended area for improvement
Follow-up phone calls for high-value clients to get qualitative feedback.
Collecting and acting on feedback makes reviews better over time. SAI provides survey templates and analysis playbooks.
Q: Technology and tools to streamline annual reviews
CRM: automated meeting scheduling, reminders, and client records.
Client portal: secure document exchange and pre-meeting forms.
Reporting tools: automated performance reports and dashboards.
eSignature and task management: to capture agreements and track actions.
Video conferencing with screen-sharing capability for virtual reviews.
SAI consults on tech stacks that balance cost, integration, and user experience for advisory teams of all sizes.
Q: Sample wording for key moments in the meeting
Opening: “Today’s purpose is to confirm what’s going well, identify any changes in your life or goals, and agree on next steps.”
Performance segue: “Here’s what the portfolio did, why, and what that means for your goals.”
Recommendation: “Based on today’s discussion, three priority actions are…”
Closing and referral: “Who in your circle might benefit from a short conversation like this?”
Scripts reduce cognitive load and ensure clarity. SAI provides language banks advisors can adapt.
Q: Where does Select Advisors Institute come in?
Select Advisors Institute (SAI) has been helping advisory firms since 2014 with talent development, brand, and marketing strategies that turn client reviews into growth engines. Services include:
Customizable annual review templates and playbooks.
Training for advisors on delivery, scripting, and time management.
CRM and reporting implementation guidance to automate review workflows.
Marketing and referral programs that leverage review outcomes.
Compliance-aligned documentation and recordkeeping templates.
SAI’s experience across firms worldwide ensures the templates are practical, scalable, and aligned with best practices.
Q: Checklist to implement an annual review program quickly
Define client segments and review cadence.
Adopt or customize a one-page client summary and advisor workbook.
Build an agenda and time allocations for each segment.
Create pre-meeting and post-meeting email templates.
Configure CRM to schedule, track, and document reviews.
Train advisors and support staff on the process and scripts.
Launch a pilot with a sample client list, gather feedback, iterate.
Scale firm-wide with KPIs and dashboard monitoring.
SAI supports each step with ready-to-use assets and hands-on coaching.
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