Ever wondered why clients fire their advisors? A recent study conducted by Spectrem Group laid out the top five reasons:
- Not returning phone calls in a timely manner
- Not providing good ideas or advice
- Not being proactive in contacting clients
- Not returning emails
- Long-term losses
Interestingly, while returns play a part in this list, it’s communication that seems to be top of mind for clients. Clearly, solid communication and making the client feel valued is vital to retaining business.
Advisors often become inundated with managing accounts, monitoring the markets, and keeping up with the legalities of investment advising. CLS Investments, LLC offers a third party money management solution, which can free up time and help advisors focus more on communication and client relationships.
Learn more about CLS: http://clsinvest.com/advisors