Advisors for life: Oak Partners keeps up with clients even when they move away

Aubrey Thomson
By: Aubrey Thomson Last Updated: June 10, 2022

Over his 12 years at Oak Partners, LPL Investment Advisor Michael Hadt has seen clients move to and from Indiana. Since Oak Partners places heavy importance on cultivating relationships with its clients, it may seem unlikely that a client could continue that relationship once they have moved out of state, but that is not the case.

Hadt shared that because Oak Partners often works with clients approaching retirement, clients moving out of state is not all that uncommon, and Oak Partners has developed methods to invest in those long-distance client relationships.

Oak Partners sends out an email to connect with clients every Monday, meets for two to four reviews a year either over the phone or over Zoom, conducts a quarterly portfolio review over Zoom with anywhere from 10-50 clients, and replaces those local client events with an on-site visit every other year.

“What we commit to them is a visit at least every other year,” Hadt said. “I just got back from Arizona as a matter of fact. I have a relatively new client that is out in Arizona in the Phoenix area. I went over to visit them and go out to dinner with them to strengthen that relationship.”

To further long-distance relationships with clients, Oak Partners intentionally keeps up with their lives by pinpointing clients’ milestones and hallmarks in life and engaging with them based on whatever those life events may be. Hadt said he would be remiss if he did not credit Client Relationships Manager Cindy Stewart for taking excellent care to find fun ways to get involved in those life events.

“Let's say a grandkid is coming soon, or a special birthday is coming up, or an anniversary–we will mail them a small token or a gift to let them know that we're thinking about them,” Hadt said. “We like doing those little things like sending a handwritten card and a baby book for their grandchild so they can read it to them for the first time. That goes a long way.”

Keeping up with those life events through thoughtful notes and gifts is a great way to pour into clients’ lives, and the main route that makes that possible is doing what Oak Partners does best: helping clients with their finances.

“I have to note these things as an advisor. I’ll ask, ‘What’s new in your life.’ They may tell me ‘We do have a new grandchild, so we have to update beneficiaries,’ or ‘We’re going to take a trip for our 50th wedding anniversary,’” Hadt said. “I use that information to manage those accounts and make sure we're aware of what's coming up. Then, I give that information to Cindy, and she kind of runs with it on the creative side of things and comes up with something nice to make sure they feel appreciated.”

With those intentional efforts to maintain long-distance client relationships, Oak Partners will even get referrals from clients that no longer live in the area, which is the best indicator that they are doing something right and continuing to build trust. 

“You have to trust somebody to open up and share all these details because we need to know them for your retirement needs and what's up and coming,” Hadt said. “They become family to us.”

For more information about Oak Partners, visit https://www.oakpartners.com/.

Securities offered through LPL Financial, member FINRA/SIPC.