OpINion/online appears on the web and in IN Daily every Wednesday. Comments are welcome at IN Editor@InvestmentNews.
Advisers: Do you deliver?
I’m not talking pizza, I’m talking services.
Before I get to the point, let me tell you a story.
I spent the last two days at home waiting for various tradespeople to show up.
On Monday, the alarm guy was supposed come by to re-attach the alarm gizmo that I removed when we replaced our back door.
The technician was scheduled to arrive at around 7 a.m. At 12:30, I got a call from his office saying he forgot. Could he come Wednesday? No, I responded, it was Tuesday or not at all.
He came Tuesday.
Two weeks ago, we arranged for the air conditioning guy to come on Monday to fix a duct and clean the system.
On Saturday at 11 a.m., while my wife and I were out, we got a call asking if he could come on Saturday afternoon instead of Monday.
After listening to the voice mail after we got home at 3 — far too late for the work to be done — we called and arranged for the work to be done on Tuesday.
My recent service — or lack thereof — experiences are probably no different from yours. Considering the state of airline travel, the interminable waits at doctors’ offices and the incomprehensible representatives at many 800-number call centers, customer service throughout our economy is becoming an oxymoron.
But client service is one area where financial advisers can shine.
While you can’t always guarantee investment, you can guarantee service that will make your clients and prospects feel valued.
For example, you can assure that all calls will be answered by a human or returned within a set and reasonable amount of time.
You can promise that a client will have two in-person meetings with you or a colleague each year, as well as at least six phone calls and 12 e-mails.
You can assure that each client will receive a four newsletters each year, or other formal communication.
You can make sure that all communications are clear and understandable – and that if a client has any question, no matter how basic, you’ll clear it up.
You get the point. While markets are unpredictable, your interactions with clients are completely manageable. Prioritize those interactions well and your reputation for service will shine.
And in a world where we’ve become resigned to poor service, your excellence will be rewarded.
For more ideas on how to better serve and connect your clients, visit our Practice Management Center.
Evan Cooper is the senior managing editor and online editorial director of InvestmentNews.
Read our weekly online columns:
MONDAY: IN Practice by Maureen Wilke
WEDNESDAY: OpINion Online by Evan Cooper
THURSDAY: IN Retirement
FRIDAY: Tech Bits by Davis. D. Janowski
