Mike Coady - Coady Performance Group

As told in my previous blog “10 ways to WOW your clients” the one thing that sits behind the top 10 is that every business needs a strong core vision – one that is recognised and shared by everyone who is client-facing. It should almost be a ‘constitution of excellence’ and a commitment to clients.

Here, below, is mine.  It arose after in-depth consultations with advisers, managers and senior consultants.  It has led to a new, innovative standard that enables us to bring our clients complete security and peace of mind.

This is my ideal Core Vision:

  1. Always place the interests of our clients above all other considerations.
  2. At the start of each client relationship we will explain who is to be the main point of contact within our firm; what we are going to do for the client; when we are going to do it; and how much it will cost. We will then keep clients advised of progress.
  3. We will ask our clients to provide us with such information about themselves and their financial position as may be necessary to enable us to provide suitable and appropriate advice and to comply with our client confidentiality and statutory obligations, and we will keep this information safe.
  4. Whenever we recommend a financial product we will research the entire market for such products and recommend that which is most suitable for our clients.
  5. We will endeavour always to respond promptly to communications from our clients.
  6. We will be transparent with our clients in connection with our fees and any income received from the providers for any products and services which we may recommend.
  7. We will agree with each of our clients whether they wish us to keep their financial position and investments under review.
  8. When requested to do so we will liaise with our clients’ other professional advisers in an effort to ensure that our advice is complementary to theirs.
  9. If we do not possess expertise in any specialist area of advice we will with our clients’ agreement obtain advice externally, but we will ensure that this is consistent with the overall financial plans which we recommend.
  10. In the event of any conflicts arising between our clients’ interests and our own, or between those of one client and another, we will explain the situation and seek our clients’ instructions on how they wish us to proceed.
  11. We must welcome our clients’ suggestions as to how our service might be improved and will undertake periodic satisfaction surveys.
  12. In the event of any dissatisfaction, clients are invited to inform their main contact or if more appropriate the senior person identified in our Terms of Business as having responsibility for client care.
  13. We believe the best way to do business is to build close, long-term relationships with clients based on mutual trust and respect. Should a client not be satisfied with their dealings with their financial adviser on a personal level, another adviser will be suggested to them immediately and without rancour.
  14. We are committed to using our resources to help bring new products and services to market, to improve and develop existing technologies, to create new distribution channels and to publish research, analysis and commentary that will help our clients reach their mid to long-term financial objectives.

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Blog published by Mike Coady

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