How to build a good Advisory Practice client service system
Practice Management & Professional Services & Quick Tips Videos

How to build a good Advisory Practice client service system

May 6, 2020

by Tony Vidler  CFP logo   CLU logo  ChFC logo

Good service is good business.

For financial advisers, service really IS the business, because that is how you build capital value.  Great clients who stay with the firm when ownership changes is your retirement plan isn’t it?


How do you build a good system of service though that ensures you are not just keeping existing customers happy on an efficient basis, but that you are giving yourself a chance to grow the client loyalty and value?


Really maximising the value of your practice for yourself actually comes about from maximising the value you deliver.


Client segmentation is important in terms of ensuring your are delivering service levels that are efficient and affordable to different types of customers.  However, even within each segment, or category of clients, one should really be thinking about how you can grow the relationship and potentially move clients up the loyalty ladder.  So what are you doing differently with each client segment?


The ultimate goal is to create advocates for you business of course….but even if you cannot convert every client to an advocate, you can build increasing loyalty and value by creating 3 different types of services within each client segment.


In this quick video I explain what service components you can be building into your business to improve the client experience, and their value to your business…


You may also find this post useful:
The “service” bit in your professional services practice might just be where the best ROI is
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