Gratitude can be defined as the quality of being thankful or the readiness to return kindness.
Janus Labs, Janus Capital’s consulting arm, created a program it called “The Art of WOW” nearly five years ago to help encourage advisors and financial professionals to express gratitude on a regular basis.
And new research from Janus Labs reveals showing gratitude can impact the careers of financial intermediaries.
The survey of more than 300 financial advisors from all major channels—RIA, wirehouse, regional, independent, bank and insurance—found that 74% say they regularly express gratitude to clients.
However, advisors are split on two distinct approaches of expressing gratitude: 51% apply the ad hoc approach, which Janus Labs describes as “expressing gratitude when the opportunity seems to arise, without prior planning,” while 49% apply the systemic approach, which Janus Labs describes as “expressing gratitude through thoughtfully considered action, tailored to the client’s personality.”
During a visit to ThinkAdvisor’s New York office, John Evans Jr., executive director at Janus Labs, explained why advisors need to not only express gratitude, but also employ a systematic approach.
“[The survey shows that] advisors who have a systematic approach to gratitude—a.k.a. delivering ‘wow’ experiences—that they were keeping clients, they were replicating clients and they had more joy going to work,” Evans told ThinkAdvisor. “What a concept: Joy!”
According to the survey, 90% of advisors who expressed systematic gratitude reported greater enjoyment and feelings of success in their practice.
A higher percentage of advisors who express gratitude systematically (57%) report being highly satisfied in their career (37% for ad hoc).
Not only are they feeling successful, the survey found they’re achieving success too—and more so than their “ad hoc” counterparts.