Kinder Institute of Life Planning founder George Kinder has written a quite brilliant blog on the about-face financial services needs to take to improve the experience for the most important person of all – the client.
His views are echoed here at Lifetime – who, well before the Retail Distribution Review (RDR) came into force, had put ‘service, service, service’ at the top of our agenda.
Kinder kicks off his piece with the line: “The thing that has had its day is making ‘financial’ more important than ‘service’.
He goes on to say: “It’s basically the notion that ‘products’ are still more important than the ‘customer’, or that the ‘advisers ideas’ are more important than the ‘client’s concerns’, or it’s the ‘financial company the brand’ that’s more important than the ‘consumer’.
“This is an issue from the top down. I’ve been with many a CEO who thinks they’re the most important person in the room. If that’s leadership, then that’s what their advisors are going to model. So when the client comes in, sadly it’s the adviser who looks at themself as the most important person in the room!
“What works is putting the clients first around everything. Fees, costs, the first phone call, products, meetings. Let’s give real ‘service’ to the client. Let’s put that first of all. And it’s not just about getting them a cappuccino or playing a round of golf!”
“It’s just the client. Learning to listen to them and have a client conversation that the client experiences as one of the best conversations of their life.”
Hear, hear Mr Kinder!