Throw a party for your retiring client

By Bryce Sanders | January 7, 2013 | Last updated on September 21, 2023
3 min read

Despite their many differences, boutique practices catering to high-net-worth clients and advisors working for big firms or running their own shop have something in common: retiring clients, and a constant search for prospects.

Read: Prospecting your way to success

Both should use client retirements as an opportunity to reel in prospects.

Boutique firm’s approach

The boutique advisor approaches a retiring CEO client and congratulates him. She’s been pleased to work with him during his career and looks forward to continuing the relationship into retirement.

She wants to celebrate with a party at a local upscale restaurant. “The firm will pay for everything – feel free to invite 20 of your boardroom buddies,” she says. But the CEO is a family man and was planning on having a party in his home. No sweat. She offers to cater the event at his home. The firm foots the bill for servers, food and drinks. “We just want to be part of the celebration,” she says.

It’s the day of the party. The room is filled with senior executives who warmly congratulate the CEO and thank him for inviting them to the party.

Read: Challenges: Prospecting and paperwork

“Don’t thank me,” he says. “You should be thanking Patricia, my financial advisor. She organized it.”

“A guy like you, retiring at your age? This advisor must have done a great job,” one guest remarks. “You need to make an introduction!”

The CEO calls Patricia over and the real work begins. Meanwhile the rest of the team spends the party circulating.


The firm now has a group of interested prospects on the same economic level as the retiring CEO.


Substantial. The firm has paid for a private cocktail party with high-end drinks and canapés for the client and his family, twenty guests, and the firm’s team members. But it was well worth it as the firm has gained visibility in the hard-to-penetrate high- and ultra-high-net-worth markets.

Individual advisor’s approach

The advisor has a client retiring in the next month or so. She works at a large engineering firm or a similar organization of well paid professionals.

The advisor calls her and congratulates her on her upcoming retirement and suggests they go out to lunch to celebrate. The advisor also suggests she invite a couple of friends from the office. With any luck, his client will choose colleagues who will be retiring in the not-too-distant future.

Read: Power your prospecting by creating a community referral network

Everyone meets at a nice local restaurant. The advisor proposes a toast to his client and wishes her a fantastic retirement. She offers a toast in return, thanking her advisor for all his help in getting her to this point. The other guests join in, perhaps asking questions about how the advisor helped the guest of honor prepare for retirement.


A happy client has endorsed her advisor. The other guests are on the same track, and will need the same services the happy client has received. The advisor exchanges contact information with his client’s colleagues and offers to help.


Minimal. The advisor has bought lunch for himself and three guests, which yielded two retirement plan rollover prospects.

Bryce Sanders

Bryce Sanders is President of Perceptive Business Solutions Inc. in New Hope, PA. His book “Captivating the Wealthy Investor” is available on