How to Provide the Level of Service Clients Will Talk About

How to Provide the Level of Service Your Clients Will Talk About

By now, financial advisors with any ambition of success know that the only way to stand out in a vast sea of sameness is by providing an extraordinary customer experience—one that can turn your clients into stark raving fans. To do anything less relegates you to the ranks of every other advisor who prides themselves on providing “excellent service” to their clients. “Excellence” is now a minimum expectation of clients who have been raising the bar for advisors for the last decade.

So, what is an extraordinary client experience, and how can advisors consistently deliver it? The challenge for advisors is there is no standardization for delivering superior client service. One client is different from the next in how they view the level of service provided. The level of communication and engagement that suits one type of client may fall short for another type.

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The 4 Pillars of Great Client Service

The 4 Pillars of Great Client Service

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.

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