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Who are your most valuable clients?
by Tony Vidler It may seem an obvious question however understanding who the most valuable clients are to a firm is not always as simple as it seems. There is often an innate understanding of who they are however it is often not underpinned by any analysis or hard data. Even when it is […]
Segmentation: Why not have everyone as “A” Clients?
by Tony Vidler Segmentation of clients in your database is sensible, and some sort of labelling to differentiate them is necessary. The idea behind segmenting clients into different categories is to introduce efficiency into a practice while recognising that not all clients are of equal commercial value to the firm. It is also a way […]
Not all clients are equal…well, not equal value anyway
by Tony Vidler Let’s talk about one of those elephant in the room things: not all clients are equal for a professional service firm. As human beings they might all be equal, but as clients they are not. Each client relationship has a commercial value….and a commercial cost. Each therefore has varying profitability, and […]
by Tony Vidler It is logical to do a bit of client segmentation so that you can figure out what levels of service can be offered to which clients profitably. The funny thing is that most of the time it is the “profitably” part that gets lost in the client categorisation process…. While […]
by Tony Vidler The first priority for any adviser in tougher times is to keep clients that you currently have, right? Then you can afford to worry about getting new ones. Changes to financial services are coming thick and fast, and advisers know that clients are rapidly changing in their expectations of service, solutions and […]
How to build a good Advisory Practice client service system
by Tony Vidler 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 […]