Client service requests: a simple tracker so nothing falls through at a small RIA
A small RIA keeps client service requests from slipping by putting every request in one list the moment it arrives, whether by phone, email or in a meeting, with the client, what was asked, an owner, a due date and the status. Check the list a couple of times a week, tell the client when each request is done, and keep the completed list as a record of what was asked and when it was handled.
A client mentions at the end of a review that she needs a new beneficiary form for her IRA. The advisor says "of course" and writes it on the meeting notes. A busy fortnight later, she emails to ask where it is. Nothing went wrong on purpose. The request just never made it onto a list anyone was working from.
What should each request record show?
| Field | Example |
|---|---|
| Client | The household and member who asked |
| Request | "New beneficiary form for IRA" |
| How it arrived and when | Review meeting, 3 March |
| Owner | The person doing it |
| Due date | When you said it would be done |
| Status | Open, waiting on client, waiting on custodian, done |
| Completed | Date, and how the client was told |
What's the routine?
- Log it immediately, wherever it came from: call, email, meeting, or a note from a colleague.
- Give it an owner and a date before you hang up or leave the meeting.
- Check the open list twice a week. Anything past due gets attention first.
- Tell the client when it's done. A one-line email closes the loop.
- Money requests go through your verification routine before anything moves.
A worked example
Take the beneficiary form at a hypothetical two-person RIA that now keeps a request list. The advisor logs it during the review: owner, the assistant; due, Friday. The assistant sends the form on Wednesday, marks it "waiting on client", and when the signed form comes back she sends it to the custodian and marks it done with the date. The client gets a short email confirming it's been submitted.
What are the common gaps?
- Requests made at the end of meetings that never get written down.
- Requests in one person's inbox while they're away.
- No due date, so "soon" becomes three weeks.
- The client never told it's done.
When is this overkill?
It isn't, once there are two people in the firm. Even solo, a list beats memory.
How Advorra fits
Advorra keeps tasks and communications alongside each client and household, so a request sits with the client who made it. The built-in assistant can also set a task for you from a plain request. See the product page, or read about client meeting notes and keeping client details current.
One thing to do this week: go through last month's meeting notes and pull every client request onto one list.
An operations routine, not legal or compliance advice.
Questions advisors ask
What counts as a service request?
Anything a client asks the firm to do outside normal portfolio management: a distribution, an address change, a beneficiary form, a tax document, a transfer, a question that needs research.
Where should requests be tracked?
In one place the whole team can see, linked to the client. Not in individual inboxes or sticky notes.
How fast should requests be handled?
Set your own standard, such as acknowledging within one business day, and track against it. Money movements follow your verification routine first.
Do completed requests need to be kept?
Keeping them is useful. They show what the client asked and when you acted, which helps if questions come up later.
Is this compliance advice?
No. It is an operations routine.
See it on a demo firm
Advorra is practice software for independent RIAs: clients, models, IPS, billing and compliance records in one place, on top of the custodian you already use. Built by The CollabHub.
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