Kent Nash, CLU, CFP, doesn’t chitchat. If something doesn’t make money and isn’t scalable and sustainable, he’s not interested. He’s an advisor who knows what he wants and doesn’t mince words.

So, it’s serious praise when the five-year MDRT member from St. Johns, Newfoundland and Labrador, Canada, declares that Sugarwish, a program that sweetens your usual client birthday recognition in multiple ways, has generated “the No. 1 positive response I’ve gotten from anything I’ve ever done.”

How it works

At the beginning of the year, Nash sets up the Sugarwish system to automatically contact each client on their birthday with a code for choosing from a variety of prepaid cookies and candy. Nash picks the price level he wants clients to select from (the level is the same for all 350 financial planning households) and doesn’t have to think about it for the rest of the year.

“I don’t even know it’s their birthday, but then I get an email from the client saying, ‘Thank you so much, what a wonderful idea; I’m looking forward to my cookies or candy,’” said Nash, who has been using Sugarwish for four years. “No one ever claims it without sending me a positive response.”

Previously, Nash sent an automated email to clients without a gift that he says felt generic and inauthentic. After finding Sugarwish through extensive internet research, exploring all possible competitors and even testing several of Sugarwish’s products himself, Nash settled on the program.

Another big plus: He pays just 10% of the gift codes’ cost upfront and is only charged if the client claims the gift. A nice advantage compared with providing gift cards that must be paid for in advance and could go unused.

“In the years I sent emails without a gift attached to it, I probably got less than 10 thank-yous,” said Nash, whose clients are divided between retirees/preretirees and young professionals/young families. “Now I get one or two every week.”

Moving forward, Nash would love to expand the program to his clients’ children but isn’t ready to gather the necessary data, including matching the right children’s birthdays to the right parents’ email addresses. If, say, the gift is sent to one of a family’s kids and not the other due to a clerical mistake, a well-intentioned gesture would cause problems instead of satisfaction.

“Collecting data and putting it into a system creates a bigger risk of human error,” Nash said. “If you can automate things, there’s less chance of human error.”

Pursuing efficiencies

Nash’s current task is building his own CRM system, an effort driven by his need for customizable fields that are efficient for advisors while tracking a wide variety of data, including when a household crosses a threshold that means their fee should decrease. Nash piloted 10 potential CRMs in the last week but decided he’ll instead take 30 hours to build his own in Excel.

“My rule of thumb with a CRM is if I can’t figure out how to use you in five minutes, you’re no good to me because you’re not user-friendly,” he said. “I’m trying to build as many cross-reference checks in mine to make sure nothing’s missed.”

Clearly, efficiency and strategy are a constant in Nash’s business. It’s why he decided not to employ a full-time assistant anymore — after four years of running his practice with one. Nash prefers not having an additional employee to manage, and his client load was already at capacity. He realized he needed to reduce costs and change his process to embrace more growth opportunities and avoid being transactional. So, he took on a part-time assistant to help with client-related inquiries and trades, and he has seen his retention and referability skyrocket while revenue has more than doubled over five years. He may even need to sell some clients soon.

This setup aligns with the five years Nash has been using Mailchimp, which originally was brought in to automate client appointments and improve service rather than having an assistant inefficiently make calls. Now the system ensures that every client receives at least 13 emails per year — their birthday Sugarwish email and 12 monthly market updates — while segmenting their additional service needs. The client’s level of assets and career stage determines when and how often Nash meets with them, and his customization of the platform allows him to maximize the technology’s ability to be repeatable and scalable.

“I’m OK with short-term sacrifice,” he said. “No one will get what I want the way that I want it unless I’ve got my hands in it.”

Nash emphasizes that his value comes from the service he provides, not from gifts he can give. If someone wants an advisor who bestows different levels of gifts based on the amount of assets managed or handpicks personalized gifts, Nash says he isn’t the right advisor for that person.

For someone who values the way he operates digitally and efficiently, Nash is clearly having a big effect. Not a single client has left as he expanded his practice and use of technology. That includes an all-digital calendar system, more virtual meetings, and an office with up to six screens on the desk for the occasional in-person appointment.

“If you train clients to do things the way you want them to run,” Nash said, “they’ll do it.”