I was on a call last week with a top advisory team in the Southeast, discussing their rebrand and new website. We delved deep into what sets them apart, what fuels their passion, and what clients value most about working with them. During our conversation, the senior advisor shared a valuable insight about service that’s been stuck in my head ever since:
“I want our team to receive messages from clients that say, ‘Thanks for the quick response.’ If we’re getting that, we’re doing something right.”
I’ve worked with financial advisors for almost 20 years and have never heard service explained in such a simple but powerful way. The reality is that service in most industries is poor. The goal seems to be automating responses and minimizing human interaction. But here’s why response times matter. Timely communication makes clients feel valued. It shows them they’re important.
If you’re reading this article and wondering how you can improve your response times as a team, here are three quick tips.
- Set a Standard: Develop clear internal protocols for response times and specify the maximum allowable response times for different types of inquiries. Below is a simple starting point:
- Phone Calls: Same day for top tier clients, by next day for others
- Emails: Returned same day, even if simply to acknowledge receipt
- Meeting Notes: Sent same day if meeting held before noon, following day if not
- Develop a Mantra: This is a team initiative. Create a team mantra like “Responsiveness is Reliability” to emphasize the importance of quick responses. Engage your team in its creation to ensure buy-in. Display it prominently and integrate it into daily routines. Celebrate quick, effective communication, fostering a culture of promptness and reliability.
- Set Realistic Expectations: When clients make requests, especially those that can’t be done immediately, provide a timeframe that gives you buffer time. For example, you might say, “I’ll need two days to gather all the necessary information and provide a more thorough response.” This approach allows you to manage client expectations and, if you’re able to respond sooner, it demonstrates your commitment to exceptional service. It’s better to give yourself some buffer time and then over-deliver.
In an industry where trust and personal relationships are paramount, a quick, thoughtful response can make all the difference. It shows clients that they are valued and heard, building trust and loyalty. Striving for those “Thanks for the quick response” messages should be every advisor’s benchmark for excellent service, fostering lasting success and client satisfaction.
