The Current State
Few advisors seem to have a system for proactively gathering client feedback about their experience—on the whole, this is where industry scores were the lowest. Many advisors say that they may ask for feedback after client meetings, but a more common explanation we hear is that advisors “know their clients” and are in frequent contact with them, and so additional feedback gathering isn’t necessary.
The big development opportunity we see for advisors is identifying the kinds of information that would be most helpful for enhancing the client experience and value proposition—and then see if you are currently getting that information. Some key steps forward include:
- Getting a more detailed understanding of what your “client journey” is and where the biggest pain points are for clients
- Inviting clients to participate in an advisory board or other kind of group sharing event to make it easier for clients to share their experiences and ideas around key topics of interest
Resources to Help You Succeed
What are some of the typical experience journeys your clients go through? Just answering this question can go a long way in revealing what kind of feedback you should be gathering from clients.
Organizing a client advisory board or other group context for collecting feedback and insight can be very valuable—as clients tend to share more freely in groups and build upon each other’s ideas. Are you creating opportunities for clients to connect and share?
Learn more about gathering client feedback and understanding in group contexts:
- Review the structure and benefits of client advisory boards and other contexts for group feedback: access resource guide.
- Learn about Integrity Wealth Management's Advisory Board and Women's Council: Download case study.
- See case profile of SignatureFD about developing communities and advisory boards within target niches.