To help advisors comply with Regulation Best Interest and embrace other best practices as they work remotely during the pandemic, Raymond James recently introduced an “enhanced client experience coaching program for affiliated advisors and support teams,” the firm said Tuesday.
The program, introduced via a pilot initiative last year, aims to support advisors with business growth and emphasizes digital engagement, according to the St. Petersburg, Florida-based firm. It is staffed by four practice management consultants/coaches and is being co-presented with three branch professional consultants.
“Particularly in this environment of working with each other and with clients virtually, and amid new regulatory requirements, we recognize the importance of and need for advisors and their teams to deliver an exceptional, repeatable client experience,” said Liz Stiles, director of practice management coaching, in a statement.
“This program focuses on streamlining the client experience with essential technology and processes that are proven to drive client advocacy,” Stiles explained.
Specifically, program coaches work with advisors to: • Conduct service delivery analysis to see what is being currently offered to clients; • Develop a tiered service model for client touchpoints; • Leverage new and existing technology resources to enhance efficiency and build new client relationships; • Create a “high-touch experience” for client onboarding to help drive referrals from new, top-tier clients; • Maximize in-person and virtual client review meetings to address investment and planning needs and deepen connections; and • Develop a meaningful client feedback process to identify opportunities for improving the business and enhancing client relationships.