Great client service should be a given. But according to a recent study from Cerulli Associates, less than a third of advisors strongly agreed that their practices go above and beyond to serve their clients, or that their clients offer repeatable and consistent client experiences.
At the same time, 72% of advisory firm principals say client service is a key differentiator.
Folks, if 72% say great service is a differentiator, it’s no longer a differentiator. It’s now the industry standard.
That said, some firms are clearly doing a better job than others. And those are the firms that are attracting bigger clients, with more assets to manage.
Let’s have a look at what they do differently and what are some key components to delivering great client service.