What Award Winning Businesses Do Well

Last week the Association of Financial Advisors named its 2013 Advisor of the Year.

All the businesses and advisors that were nominated were put through a rigorous process that involved an assessment of client engagement as well as systems, processes, community involvement, leadership and the advice proposition.

What made the 6 finalists and ultimate winner stand out from the crowd?

It is apparent that clients value the financial planning process. Data from the Beddoes institute confirms that once clients start taking advice they get incredible value out of the process. They are happier, more likely to refer and maximise the possibility of living a financially secure life. Clients point to aspects such as the personal qualities of the advisor, understanding the process and feeling that the advisor understand them, as key components of client satisfaction.

What these businesses, these finalists, do goes beyond those client pre-requisites.

These award winning businesses :

- have defined in client terms what it is that they do so clients can easily articulate the value in their own words
- consequently have referral rates from existing clients well into the 90% levels
- have dynamic, client focussed communication methods that allow trust to be built before they have even met a protective client
- on meeting a new client, take the client through a process that defines what a clients values and motivators are with clarity and resonance
- they deliver advice that is connected to these values and the advice is delivered by a team
- have teams that understand what it is that they are providing and the impact on each individual client
- set benchmarks in the client journey and celebrate and acknowledge theses milestones with clients
- have multiple methods of communication with their clients
- are active in their community
- lead industry discussions
- share their experiences and successes with peers

But most of all these award winning businesses know who they are as a business as individuals and are true to label.

They celebrate themselves, their clients, their staff and their community each step of the way.


Congratulations.