Asking if your firm is making progress toward its goals is an important part of managing your practice. But how should you go about measuring that success? You could look at growth in AUM or in the number of new clients—or you could reach out to your clients.
Soliciting client feedback is about more than simply evaluating client satisfaction with your services. “Ultimately, the process can improve retention rates, drive referrals, even create networking opportunities with other professionals,” says Julie Littlechild, president of Toronto, Ontario-based Absolute Engagement, a consulting firm that works with financial professionals in the U.S, Canada and Europe.
Not all feedback is created equal, however. Consider the following six tips on how to effectively gather feedback from your clients and what to do once you have it:
