How Financial Advisors Can Stay Ahead of Industry Commoditization

How Financial Advisors Can Stay Ahead of Industry Commoditization

In our second in a series of Critical Issues Facing Financial Advisors Right Now, we focus on perhaps the most significant threat to advisor success, much less survival—the commoditization of the advisory industry. The threat is significant because most advisors don’t even know it’s happening to them. In this extremely cluttered and highly competitive advisory landscape, advisors who don’t find ways to stand out in the crowd get swallowed by a sea of mediocrity, where clients dare not go.

Sound overly dramatic? In fact, it might be understating what is happening. Striving to be a knowledgeable, client-focused, and trusted advisor is no longer enough because that is what clients expect. Advisors must work each day at providing their clients with the unexpected. Otherwise, why should they choose you over any other typical financial advisor? Equally important is why should they stay with you when they can find so many others like you from which to choose?

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Making Your Service Memorable

Make Your Service Memorable

Let’s talk about outstanding service. That’s the rare commodity in this country. Americans have forgotten what good service is. People around the world have forgotten what good service is. And I’m telling you, if you want to outperform the competition, don’t have just good service, make your service memorable; service people will talk about.

Listen to the audio or read the transcript below to learn Don’s thoughts on memorable service.

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