Advisors got slapped across the face last weekend.

Spread the love

breaking-news-financial-advisor-problemSorry to break it to you, advisors.

You just got slapped.

I was lucky enough to attend DxBoston last weekend – a design innovation conference featuring some of the most incredible designers in business today. (i.e. the Lead Designer of Spotify, Tobias van Schneider, was there… and yes, I saw his famous mustache.)

To be honest, I wasn’t there for you. I wasn’t even there for Blueleaf (sorry, boss). I was there for myself; developing my own skills as a creative.

But at precisely 10:18am EST, someone made a statement about financial advisors that made my eyes go wide with horror.

A professional “experience designer” slapped you.

Lee Moreau of Continuum was there.

Contiuum is an amazing consulting firm. Their eyes and ideas are hired by Fortune 500 companies to fix customer experiences and design better ones. (After all, successful brands know if a customer isn’t happy with their experience, the biz fails to grow, and slowly dies.)

At precisely 10:18am EST, Lee faced the audience -filled with some of the most successful, driven people in Boston- and said:

“Gone are the days with the oak desks used by Financial Advisors with pictures of their kids or pets. We’re focusing on the customer experience.”


I flinched.  The audience nodded. They understood his point.

Financial advisors are widely viewed as businesspeople who sit behind big desks and are thee example of not focusing on customer experience…


(Insert slap.)

Okay. I can hear you jumping to defend your business. That is fine. Not all advisory businesses are giving old-school service experiences. But I do encourage you to sit back and take an honest look at the experience you give clients – in person, online, automated routines, custom and personal touches, daily, weekly, monthly. Schedule 1hr+ in your schedule this week to do it. Think critically.

Regardless of YOUR situation, this is an industry-wide problem.

Financial advisors were announced as thee example of what NOT to do in a customer experience… at an elite conference, in a big city, in front of incredibly successful people… and everyone nodded.

We need to shift.
We need to repair the advisor’s reputation.
We need to focus on the client experience.

It’s not only an industry concern, it’s a competitive risk for everyone, today. Eight short minutes later, while discussing a project he did for a large brand’s call support center (notorious for poor customer experience), Lee rolled to a slide that said: “According to Forrester, 89% of customers who experience poor customer service will leave for the competition.”

Do it for you.
Do it for your clients.
Do it for your next client.
Do it for advisors everywhere.

Spread the word.
Let’s do it together.

*Stay tuned for my ideas on How To Fix It.

Image source

Carolyn is Blueleaf’s in-house marketing guru. She writes on The Blueleaf Blog to make advisors’ lives easier, offering practice management and client engagement tips where and when they’re useful. Outside of the Blueleaf offices, she can be found running a 10k or cooking her famous chili. Chat LIVE with Carolyn on Twitter @BlueleafAdvisor!
  • Bruce October 3, 2014, 11:37 am

    The whole article is a bit self serving. A not so cleverly disguised sales pitch for your company. I will agree though that, as a whole, our industry needs to adapt or die when it comes to delivering effective customer experiences.

    • Carolyn McRae October 3, 2014, 1:19 pm

      You’re spot on, Bruce. We absolutely address the theme of innovative client engagement head-on… Both as a theme of our publicly accessible content, and a mission that fueled our product. Glad you agree there’s a call to adapt 🙂

    • Steve October 3, 2014, 2:04 pm

      Well it is the Blueleaf blog.