Help Center

Managing Terminated Clients

When a client relationship with your firm ends, it is important to properly update LeadCenter.AI so the client record, pipeline status, financial accounts, and reports all reflect the termination accurately.

Following the correct process helps your firm maintain clean data, track churn, understand why clients leave, and analyze termination trends by advisor, household, and account.

Steps to Terminate a Client Relationship

1. Move the Head of Household to a Terminated Pipeline Stage

Start by moving the Head of Household in the sales pipeline to a Terminated stage.

Because the terminated stage is considered a closed stage, this step officially marks the client relationship as closed in the pipeline.

2. Update the Closed At Date

After moving the Head of Household to the terminated stage, update the Closed At date.

The Closed At date should reflect the actual date the relationship was terminated, whether the termination was initiated by the client or by your firm.

Do not change the Client Since date. The Client Since date must remain the original date the person became a client. If the system shows a warning about this, ignore the warning and keep the Client Since date unchanged.

3. Change the Client Status to Past Client

Next, update the client’s status to:

Past Client

This ensures the contact is no longer treated as an active client in LeadCenter.AI.

4. Add the Terminated At Date

Update the Terminated At date from blank to the actual date the client relationship ended.

This date is important for termination reporting, churn analysis, and historical tracking.

5. Select a Termination Reason

Choose the appropriate termination reason for the contact.

Common termination reasons may include:

• Market Conditions
• Beneficiary Distribution
• Self Manage
• Fees
• Unsatisfied with Services
• Changed Advisors
• Unknown
• Other

If your firm needs to add additional termination reasons, they can be managed from the Termination Reasons screen:

https://app.leadcenter.ai/dashboard/leads/termination-reasons

6. Update Financial Accounts

Review all financial accounts associated with the terminated client.

For each account that has been terminated:

• Change the account status to terminated
• Enter the terminated date for that account

This ensures account-level reporting reflects the client termination correctly.

7. Repeat the Process for Other Family Members

If the household includes other family members who also terminated their relationship with the firm, repeat the same process for each family member.

For each terminated family member, make sure to:

• Change the client status to Past Client
• Add the terminated date
• Select a termination reason
• Update any terminated financial accounts

Reports to Review

1. Client Termination Report

At least once a year, review the terminated clients report:

https://app.leadcenter.ai/dashboard/reports/client-termination-report-new

This report helps your firm analyze:

• Client churn rate
• Top reasons for churn
• Terminated clients by advisor

2. Sales Pipeline Report

The sales pipeline report can also be used to identify Heads of Household who became terminated during a specific period.

This is helpful for understanding how many client relationships moved into a terminated stage over time.

3. Issued Production Report

The issued production report will also reflect terminated accounts, allowing your firm to perform additional analysis on account-level termination activity.

Recommended Optional Step: Send an Exit Survey

It is highly recommended to send an exit survey to clients who terminate their relationship with the firm.

The survey should ask why the client decided to leave and give them an opportunity to provide additional feedback.

To make this process more efficient, your firm can automate the survey capture in LeadCenter.AI so the responses are saved directly under the contact record.

You can also use the LeadCenter.AI landing page builder to create both:

• The exit survey
• The exit email

Capturing this feedback consistently can help your firm identify patterns, reduce future churn, and improve the client experience.