Aiming to demonstrate the client experience in the sales process, wealth advisory firms are seeking more standardised models of service delivery, according to a new study from the Family Office Exchange (FOX).
Date: June 8, 2012
Tags: Sales, Client experience
Aiming to demonstrate the client experience in the sales process, wealth advisory firms are seeking more standardised models of service delivery, according to a new study from the Family Office Exchange (FOX).
Named “Enhancing the Client Service Experience”, the study depicts three ways that firms approach standardisation: (i) automation of processes; (ii) eliminating service inconsistencies between offices and regions; and (iii) designating teams that are responsible for process improvements and consistency.
"Advisers are the scarcest resource in the industry and the biggest determinant of service quality,” said David Lincoln, FOX managing director of research. “Standardisation can help advisers become more efficient, while giving firms a more sustainable business model over the long term.”
The study also finds firms doing more to demonstrate the client experience in their sales processes, and wealth advisers are adopting a more involved needs assessment during the sales cycle.
