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Elevating the Client Experience

We commented earlier on this white paper, published in the USA in September.

Whilst it expands on “Leveraging Technology to Drive Profitability, Scale, and Growth”, there is certainly another aspect of great interest to those who are concerned about making a successful transition from commission to fees.

The single most important aspect of converting successfully is that the client should know what he or she gets in exchange for paying you a fee. Unless there is absolute clarity, you have very little chance of getting clients to part with their money.

In a September 2013 Harvard Business Review article, “The Truth about Customer Experience,” researchers reported that: “Most customers weren’t fed up with any one phone call, visit, or other interaction— in fact,they didn’t much care about those singular touch points. What reduced satisfaction was something few companies manage—cumulative experiences across multiple touch points and in multiple channels over time.” If advisors are knowledgeable and their clients trust them, they can build relationships. But relationships may change over time if an advisor offers only quarterly statements by mail and quarterly meetings in person. When clients have busy schedules or have questions about what’s happening today, the advisor may not be able to answer them or give them what they need anymore. “Let me get back to you on that…” is no longer a widely acceptable answer in an information age.

Please note that, in order to download the 10-page white paper, you will be required to provide your email address, but have an option not be included in future mailings.

Please click on this link to download Elevating the Client Experience.


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