Developing Client Loyalty
The foundations of client trust and loyalty have been shaken in recent years by the economic downturn and instability of the markets in 2008 and 2009. Client turnover rates in recent years were also historically higher than in the past years.
Retaining existing clients and building their trust and loyalty is as important as attracting new clients for financial advisors. This report focuses on how advisors can retain clients and develop loyalty, and reduce attrition. The following questions are addressed:
- Do individuals today trust financial service companies more than they did immediately after the economic downturn?
- How do advisors develop loyalty and trust with their clients?
- For those investors that changed advisors, why did they change?
- What factors will be critical to investors in the future?
- How do advisors develop and maintain the trust of their clients?
Client loyalty is imperative to the success of a financial advisor. It means an individual will stick with that advisor through bad times and refer him or her to others. Loyalty is developed when clients learn to trust an advisor. This report investigates the vulnerability of clients looking to leave and examines some reasons for seeking a change. It also looks at some of the types of financial advisors that are most vulnerable to having clients leave, and which types of advisor companies tend to foster the most loyalty. $49.95
