Change Is In The Air
April 2012 § Leave a Comment
KAR Consulting believes the new client has great expectations of their financial advisor on receiving investment ideas. Many clients want a unique, self-designed experience.
- Just as people no longer need to place trust in travel agents to secure a vacation that is perfect for them, the current role of financial advisor is at risk. Our industry grew up in an era of trust, a time when most investors delegated big decisions to people they had confidence in. The people with money over the past 30 years (the great generation) were accustomed to trusting advice relationships from not only their financial advisor but with their accountants, lawyers and doctors. However the ensuing generations, led by the Baby Boomers, are far more guarded and much more activist in their approach and expectations.
- Given the level of control many clients now apply to every aspect of their client experience, they expect to take an active part in designing their financial lives too. The old days of telling clients what to do and expecting them to accept our recommendations without explanation are rapidly disappearing in the financial world.
Clients want value for every dollar they spend. The financial service industry has thrived by having fees disguised in various complex forms, from fees being taken out of the NAV, where the client has a hard time determining what they are paying in their mutual funds, to having extensive holding periods, locking in their assets (and their fee payment) for long periods of time. But KAR Consulting believes that change is in the air. Transparency is the new world order. Today, the new client knows more and expects more!
Let KAR show you how to place the client at the center and elevate client experience expectations. Join us for a complimentary Web Seminar, Thursday, April 26th at 3:30pm CDT. Click on the picture below or register by phone, 847-895-0656.