Advisers, self-awareness now available online

Apparently, managers at Invesco Ltd. are fans of Robert Burns, the Scottish poet who wrote: "O wad some Power the giftie gie us, to see oursels as ithers see us!" Indeed, Invesco has launched a program that it says will give financial advisers and retirement plan consultants that very gift — and show them how to use it to develop a stronger sales pitch. The investment manager has developed a 10-minute online survey to help advisers tease out their clients' opinions of the services they provide. Invesco customizes the survey with the adviser's firm name and creates an online link that advisers can send to their client list. Invesco collects and summarizes the responses, and offers advice on how advisers can translate the results into marketing copy. Invesco will offer the service without charge. “It is important to identify a few key differentiating attributes rather than trying to be all things to all people,” according to Invesco's marketing materials. Potential attributes include industry expertise, strong brand identity and transparent fees. Advisers are frequently surprised by unexpected results, said Terry Kelly, director of retirement sales for Invesco's North American retail division. “Advisers may think it is one thing, but if their clients think they are something else, they need to think about that,” he said in an interview. In addition to the report on the attributes clients favor, Invesco provides a list of statements that advisers can use in sales materials. For example, if clients say they value their adviser's expertise with other similar plan types and features, Invesco suggests advisers tell potential new clients: “We have many clients with the same plan types and features as yours, so we're familiar with potential issues and strategies to resolve them.”