In many parts of the world financial regulators are placing more and more constraints on the industry. From improving record keeping in terms of recording advisor/client conversations to alerting the industry about the need to understand client behavior over and above tolerance to risk.
Financial Services Firms are struggling with the inherent tension of increasing client engagement (sustainable revenue) and meeting the increasing regulatory pressure of SEC Rule 2111 for enhanced product suitability compliance (firm protection). How are you closing this gap?
Often we think that clients want higher investment returns from their advisor, and therefore that defines the role of the advisor. However, research shows that clients want a relationship.
Do you have a system in place to holistically determine the complete financial personality style of the client? Or, are you still relying primarily on your intuition?
Do you feel as though you are always running to catch up? Advisors want to deliver excellent advice, they want to see satisfied clients, and they work hard to inform themselves to be able to give this level of service. So what’s the solution?
How can you customize your client experience when you may not even know who your client really is? Attracting new clients is all about the ability for you to quickly build trust. This involves understanding your client’s personality.
You’ve read all the reasons why targeting women as clients is lucrative. But what is the one thing that women really want from YOU, the financial advisor?
If you don’t decide strongly for yourself the favorable outcome you want out of a client/advisor relationship, your success as an advisor will likely come from others’ definition of success.
In the past year, has your business learned more or less about its customers? How do you know if you’re meeting their needs to boost customer engagement?
As the year ends and plans are in place for 2013 many companies will have focused heavily on where social media fits in their business and more importantly produced endless statistics to support reasons to invest in ‘more social media stuff’ (or not).