There is a common belief that the most important things to your clients are performance and affinity, writes Thomas F. Rieman in “Bridging the Value Gap.” He offers a different insight to that conviction. According to Rieman, there are four things driving client satisfaction:
- The level of control they feel in the planning process and the relationship – Clients are looking for advisors who simplify the planning process and help them truly understand the concepts, ideas and strategies used to optimize their wealth.
- Clients’ perceptions of the value the advisor places on the relationship – Advisors who make clients feel important, no matter how small their assets, will secure the relationship.
- Trust in the advisor – Clients are looking for advisors with integrity, who will put the client’s needs before their own.
- Performance – Of course, advisors who can’t consistently generate the returns clients’ expect will be passed over for someone who can.