Client satisfaction is essential for a successful financial advisory practice. While technical proficiency is what clients are supposedly “buying,” other factors also prove to be very important. Sponsored by Hartford Funds, the MIT AgeLab, directed by Dr. Joe Coughlin, conducted an analysis based on online reviews from Yelp (N = 499) and Angie’s List (N = 100), and identified key practices and characteristics clients value in financial advisors.
Topping the list is personalization. According to John Diehl, Senior Vice President of Strategic Markets, Hartford Funds, “Clients are showing a true interest in working with financial advisors who understand their individual needs, wants, goals and timetables, and take them into account when coming up with a financial plan.”
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