Your advisor well-being has a positive impact on your client experience

We've looked at the last 12 months of data and found simple initiatives you could implement to improve client impact.

Cristian Tountzis
Your advisor well-being has a positive impact on your client experience

As advisors and leaders, we're always looking for ways to improve performance and value, both internally with our employees and also the impact we have on our clients. The hardest part is not knowing where to start.

A quick google search for "how to improve client experience" will give you multiple articles and posts on where you can begin, from better understanding your client's goals to calculating NPS scores that measure their experience. These tips are great and may work for your firm, but can take precious time to implement, especially during your busiest time of the year.

The good news is we work in a digital world, and you don't have to dig far into the data to find answers. Analysing the last 12 months of feedback data captured through Everperform (~ 303K data points), we've been able to find insightful correlations between different performance factors, which are simple and inexpensive to start implementing in your firm. This data is captured through our customers on a weekly, on-going cycle designed to measure trends and impact over-time, rather than a once-off survey.

Simple initiatives from customer results

We analysed over 300,000 data points across 59 firms, collected continuosly over 12 months to find positive and negative correlations between different performance areas. Based on the analysis, there are four areas we want to focus on that have a positive correlation on client impact:

  • Getting fresh air regularly

  • Thinking clearly

  • Allocating required time to focus on what matters

  • Dealing with distractions and refocusing quickly

Let's go through why these are important when looking at ways to improve our client impact. The table below shows the correlations between those factors and making a positive impact on your clients (the closer the number is to 1, the stronger the positive correlation).

Performance factor correlations for advisors

Encouraging your team to get fresh air regularly has a positive correlation with clear thinking. What this means is that when advisors go out regularly for some fresh air, their ability to think clearly also improves (note that this is not causation).

From the results, we can pull out two more correlations and insights:

  1. Advisors that have been thinking clearly also report that they are making a positive impact on their clients.

  2. Advisors who deal with distractions and refocus quickly report they are making a positive impact on their clients.

This is where the insight is, and where we encourage partners and leaders to take a more proactive approach: looking out for your advisor's health, wellbeing and capacity to deliver can increase the value experience they deliver to your clients.

We can clearly see the relationship between these different performance factors, so if there's a key takeaway, it's this:

Clear thinking and focused advisors feel like they're making a positive impact on their clients, and clear thinking positively correlates with encouraging advisors to take breaks and reset.

If you're looking for a simple, inexpensive initiative to improve the impact your advisors are having our your clients, encouraging them to go outside to get fresh air regularly could go a long way.

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