Blog

I Hate Surveys, but I Like This One

twitterlinkedin

Laura_BruceI am the worst person to call if you want a survey answered. I often wonder what, if anything, will come of the precious time it took me to answer all the questions. In September of this year, we asked our clients to tell us how we were doing and the results were amazing. No one appreciates the time and effort of those clients more than Cathie and I do and we promise to use the information gained to make the client experience even better.

When Cathie and I set out to create the new Wealth Management for Individuals division of APCM, we looked forward to providing something different and used our best ideas formed over two double decade long careers in the industry. For starters, we absolutely knew what we did not want to be; brokers who make their money on each client transaction, nor cookie cutter financial planning that does not account for real life experiences. Our financial management would instead rest on a strong foundation of: fiduciary responsibility, dedicated and highly qualified staff, personalized attention and the expertise of institutional management.

We greatly appreciate and respect our clients, it is a privilege to be able to determine if we are the best fit for their specific needs and are aware we are not for everyone. After establishing the individuals division, we realized to continue to grow it would be most helpful to check in with our current clients. Are they satisfied? If so, why and how? What could we be doing better? We utilized a service that specializes in helping financial advisors drive client engagement, and chose from a series of questions that would assist us in defining our value to the client. The survey response rate was better than expected at 9% over the industry standard.

We are pleased to share a summary of our results:

  • Engaged Clients beat the national average by a large margin of 23%
  • Our clients make more referrals than the national average by 11%
  • 85% of our clients were very satisfied, with the remaining 15% in the second highest category of satisfied
  • 84% believed their advisor adds value above and beyond the investment performance

Perhaps the most telling things were some of the comments:

“I have the best financial advisor in the world. I trust her work completely and she has shown herself to warrant my trust. I can think of no area of improvement.”

“I am very pleased with Cathie and the entire team, I am not sure what I could suggest for improvement at this time. APCM has been a blessing in my life, I am not sure how I would have maneuvered through the most difficult time in my life without their financial guidance. Thank you.”

The overwhelming positive results did take us aback a little. We welcomed the few comments of concern mainly regarding specific communication plans. We look forward to addressing those concerns and implementing all feedback in our plans for the future. We appreciate any ongoing comments on how we can improve. Take it from one who hates surveys, our client’s input is valued and helps us to continue to build a company centered on their needs.

 

Laura Bruce, CFP®, ChFC®
Director, APCM Wealth Management for Individuals

Share This