Has anyone built a Client Advisory Board?

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I honestly can't see a bunch of my clients being THAT interested in my business and how to make it better. Maybe a few retirees that have nothing better to do with their time. Then again, I'm a huge skeptic.I'd rather a mentor type of individual (not necessarily or even preferably in the business) that I can build a great relationship over time.

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I'd rather a mentor type of individual (not necessarily or even preferably in the business) that I can build a great relationship over time. I would like to speak with and share ideas with other advisors in my area but not sure how that would really work... It works great here an AH but I wonder if most would see it as rubbin elbows with the enemy and not participate?

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My firm does something like it, but not nearly as formal - it is more of a "picking of the brain" of our top clients.

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I wouldn't help any advisor within a 50 mile radius of me UNLESS I knew them from Fishbowl first, OR they are also with my firm.

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I have had an Advisory board for seven years. I think it is one of the best things I ever did. We run everything by them as far as what we're doing right what we're doing wrong what we can improve on Etc. We have a separate room at a local restaurant and meet for breakfast. We have a big Financial Forum once a year and they tell us what topics they want to hear about. A lot of times it is completely different than what we thought they would want to hear. We picked clients that would tell us the truth and are good clients. That does not mean our biggest clients. It felt great about 3 to 4 years ago when one of the members said what can we do to improve our business. It was that moment it felt like they took ownership of the board. We try to rotate people off but we have such a great group it doesn't change very often unless somebody moves out of state or passes away.

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Yes my advice ..... call it an Advisory Council

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