When you think of client events, do you envision spending a significant amount of time, money, and energy to pull it off, perhaps with little return on investment—especially in terms of acquiring affluent clients?

Many of your colleagues have felt the same way, and without seeing much value in hosting these events, they may stop altogether and miss opportunities to deepen relationships with existing clients or make meaningful connections with prospects.

With a few simple changes in your approach, you can start seeing improved results.

Here are four easily avoidable mistakes we often see with client events:

1. Hosting events that are too large
2. Only providing standard educational events
3. Just sending invitations
4. Not having a follow-up strategy

First, Hosting Events That Are Too Large

Thinking that “bigger is better” for client events, many financial professionals invite a lot of attendees and assume that more people will lead to more future clients.

But that approach can backfire when it comes to acquiring affluent clients. The problem is that large events may draw a crowd, but they’re not conducive to having personal interactions with attendees, particularly with prospects. Building rapport with prospects should be a main objective.

This is why small, intimate client events are better for building relationships with affluent attendees.

Think quality over quantity

Intimate client events are small-scale (6-12 people) and should include clients, clients’ guests, prospects, and even centers of influence. Because these events are designed for fewer attendees, they’re less money, less work, and more fun. But the key advantage is that they allow you to have one-on-one conversations with clients and prospects alike.

Second, Only Providing Standard Educational Events

It’s not wrong to host standard educational events, but they’re not the best for attracting wealthy clients. Almost half of affluent investors surveyed by Oechsli said they’d rather go to a fun, social event vs. about a third who said they’d be interested in attending an educational event.¹ So how do you choose which type of event to hold?

Tailor the topic or theme to your guest list

Here are some practical event ideas that include a variety of interests and preferences:

Intimate Client Event Ideas

• Antique roadshows
• Batting practice at a minor league park
• Dance classes
• Barbecues
• Art gallery/museum tours
• Car demonstrations
• Fishing trips
• Fly-tying classes
• Cooking classes
• Gardening events
• Holiday parties
• Golf clinics
• Trivia nights
• Chocolate tastings

Third, Just Sending Invitations

Sending an email or mailing printed invitations isn’t wrong—unless it’s all you do. The key to getting affluent clients and their guests (i.e., prospects) to attend your intimate client event is to follow your invitation with a phone call inviting clients personally. This is also an opportunity to encourage them to bring a guest.

Consider using the talking points like the ones below:

“We’re hosting a wine tasting at XYZ Vineyards on August 16 and hope you can attend. It’s for a small group of our best clients—all fun, no business. Are you and (spouse’s or partner’s name) free?”

If they express interest:

“Great, I’ll confirm it with you in a week. You mentioned that your neighbors Eric and Sofia enjoy wine too... Do you think they’d like to join us?”

That’s two touch points, but don’t stop there. We also recommend sending a reminder a few days before the event. This can help increase attendance rates.

Fourth, Not Having a Follow-up Strategy

When following up, think outside the “thank you for coming” box. Use the time after the event to build on the relationship.

What did you learn during your conversation with a prospect? If a prospect expressed a need or showed interest in a particular topic during the event, invite them for a one-on-one meeting to delve deeper into that topic. Or share relevant articles, blog posts, or videos that may be helpful. This not only provides value but also positions you as a resource.

If conversations were purely social, suggest a second social point of contact Ideally, you’ll leave the conversation with another meeting in place, whether in your office, at a restaurant, or on the pickleball court.

And don’t limit your communication with a prospect to a one-time event. Regularly reach out with new information, updates, or just to check in.

As You Plan Your Affluent Client Event, Remember These Three Things

First, bigger isn’t better. Hosting intimate client events makes it much easier to personally connect with affluent clients and build rapport with prospects. Second, not every event must be educational. Affluent clients enjoy fun, social events and will feel valued. It’s also a low-pressure way to meet prospects. Finally, pick up the phone. After sending invitations, personally invite your clients and encourage them to bring a guest, and then follow up to help solidify any progress made during the event.

Upscale Client Events Should Be Anything but Ordinary for the Most Impact

Intimate events are an excellent method of showing appreciation for your best clients while getting facetime with their affluent friends. But avoid falling into the trap of using the same old client-event approach. Follow the tips in this article for a well-received event to strengthen existing relationships with affluent clients and form new ones.

Next Steps

1. Choose the type/theme of event you’ll host and the date
2. List clients and prospects to invite
3. Call clients to invite them using the talking points like those in the third section