Paulette Trotter (pictured above), globally recognised as Loan Market’s top adviser, has successfully harnessed the power of client retention to drive her business’s growth.
With more than 30 years of experience in the finance industry, including roles at two major banks and as an independent mortgage adviser since February 2017, Trotter’s strategy focuses on creating and maintaining long-term relationships.
Her approach is rooted in consistent, high-quality service that has evolved significantly since her start nearly eight years ago.
Transitioning from a corporate banking background, where acquiring new sales was the primary goal, Trotter shifted her focus to nurturing existing client relationships.
“I’ve always wanted to look after my existing clients because they were there to help me succeed,” the Loan Market adviser said.
This shift wasn’t without its challenges, as initial efforts were less effective than anticipated.
Over time, by adapting and implementing new processes, she refined her strategy to better serve repeat customers.
Trotter’s approach included several key practices that ensure clients remain engaged and satisfied with the service they receive, encouraging them to return.
Implementing a systematic follow-up strategy has been crucial. Trotter’s team sends out timed communications – at settlement, six weeks, six months, and annually – to keep in touch with clients.
This method, particularly the six-month phone call, has proven to be a significant factor in maintaining client relationships.
“The purpose is not to sell. It’s all about that service proposition. Sales just come anyway,” Trotter said.
Recognising the importance of loan refixes, especially in a market where 90% of customers opt for fixed terms, Trotter developed a proactive process to manage these refinances.
Initially struggling with this aspect, she now uses automated systems to remind clients of their refix options, thus maintaining her presence in their financial planning.
With ambitions to lodge more than 40 loan applications monthly, Trotter credits her team for much of her success. The team’s familiarity with repeat clients allows Trotter to focus more on growth and service quality.
“That’s why I’ve got a team of 10 people helping me. It’s all part of our service proposition,” she said.
Unlike some advisers who aggressively seek referrals, Trotter lets her consistent, quality service do the talking. She believes that by getting the basics right – like promptly returning calls and responding to emails – clients will naturally refer her services to others.
Looking forward, Trotter is focused on retaining her team and achieving a better balance between her professional and personal life.
She is exploring strategies to ensure her staff not only remains with her but also enjoys their work. Through it all, her strategy remains straightforward: engage clients consistently, provide unwavering support, and make sure they feel valued.
