As financial advisors, almost all of us strive to deliver a great client service. We may look closely at certain metrics, such as how often we contact our clients, and use that as a guide to how well we are servicing our clients. And while this does provide a certain level of “table stakes” in terms of effectively servicing clients, the reality is that there’s much more to delivering an extraordinary client experience than just great service. Which means, if we truly want to provide an extraordinary service to our clients, we must go beyond just great service and think much deeper about what “client experience” truly is.
In this guest post, Julie Littlechild of Absolute Engagement (a firm that helps advisors craft a client experience that makes them attractive to the right clients) shares her 11 action steps that advisory firms can take to design an extraordinary client experience. Specifically, those steps include segmenting clients, creating a service matrix for the firm to follow, assessing capacity and profitability, defining your niche, co-creating the client experience, mapping out the client journey, creating a client communications plan, structuring the business around an ideal client, defining core processes, creating a client service agreement, and gathering client feedback.
Ultimately, the key point is to acknowledge that what we tend to think of as delivering great service in an advisory business is simply too narrow. We might think of some of the most basic items that are covered in a client service matrix, but it takes a deep dive into all 11 actions in order to truly build an extraordinary client experience. And it’s not necessarily the case that any particular tactic is going make the difference, but instead, the building of a strong foundation that supports a target clientele and is consistent with the client’s journey that truly makes a client’s experience extraordinary!
source https://www.kitces.com/blog/extraordinary-advisor-client-experience-11-action-steps-julie-littlechild-absolute-engagement-workbook/?utm_source=rss&utm_medium=rss&utm_campaign=extraordinary-advisor-client-experience-11-action-steps-julie-littlechild-absolute-engagement-workbook
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