Remember the rules
This industry is heavily regulated and breaching the rules on inducements is a real threat. The utmost care should always be taken to stick within the Financial Conduct Authority’s guidelines on hospitality.
Similarly, getting people to the event can be a tricky process in this post-GDPR world, with the regulation impacting how to invite potential attendees.
It is important for all businesses to bear all these rules in mind and remember the upshot of the event should always be good client outcomes.
While it is important to get in front of clients so they can understand the various ways you can help, it is key that they do not feel coerced or pressured into taking any kind of offer up – another reason why it is worth keeping events strictly for existing clients.
Despite the plethora of things to think about and the potential risks client events present, if done right they can help bring in new business but often, most importantly, are an essential tool to build trust with your current clients.
Nigel Speirs is managing director of Old Mutual Wealth Private Client Advisers
