One investment advisor shares how her firm consistently delivers value to clients
Korina Fandrick, CFP and investment advisor at Milestone Asset Management with Canaccord Genuity Wealth Management, shared some insights on the value of financial advice and how it’s changing in the face of current trends.
Which of your products or services have your clients found to be most valuable?
In a recent survey conducted with our clients, 85% responded that it was critically important to have a written financial plan in place. After the market fallout of 2008 which we carefully navigated clients through, we had to rebuild confidence in some instances, review basic fundamentals of client risk level versus reward, investing for the long term and retirement goals. This only served to further solidify our client relationships.
What industry trends or regulations do you think have most greatly impacted clients’ perception of financial advice?
The proliferation of ETFs, robo-advisors, and the resulting media coverage foster a do-it-yourself mentality, especially for younger tech-savvy generations. That said, you still cannot replace the advisor-client relationship and ability to interpret a situation, not to mention vast experience and skills required for more complex situations. Time is also of the essence for everyone and it’s our job to put our client’s financial world in order so that they can be focused on their own goals, challenges and rewards thereafter.
Can you think of any products or services that will become more important to clients in the future? How will these become more significant?
Referring to back to the survey, the results revealed a 99% client satisfaction rating for our group. We believe this was earned by cutting through all the product, economic and geopolitical noise to bring to our clients what really matters: custom solutions, unique to their specific needs that are also consistent with their long term financial plan. To differentiate yourself in an increasingly automated, digitized world, you need increasingly higher levels of human touch, sensitivity and bespoke tailored solutions.
For more of Wealth Professional's latest industry news, click here.
Which of your products or services have your clients found to be most valuable?
In a recent survey conducted with our clients, 85% responded that it was critically important to have a written financial plan in place. After the market fallout of 2008 which we carefully navigated clients through, we had to rebuild confidence in some instances, review basic fundamentals of client risk level versus reward, investing for the long term and retirement goals. This only served to further solidify our client relationships.
What industry trends or regulations do you think have most greatly impacted clients’ perception of financial advice?
The proliferation of ETFs, robo-advisors, and the resulting media coverage foster a do-it-yourself mentality, especially for younger tech-savvy generations. That said, you still cannot replace the advisor-client relationship and ability to interpret a situation, not to mention vast experience and skills required for more complex situations. Time is also of the essence for everyone and it’s our job to put our client’s financial world in order so that they can be focused on their own goals, challenges and rewards thereafter.
Can you think of any products or services that will become more important to clients in the future? How will these become more significant?
Referring to back to the survey, the results revealed a 99% client satisfaction rating for our group. We believe this was earned by cutting through all the product, economic and geopolitical noise to bring to our clients what really matters: custom solutions, unique to their specific needs that are also consistent with their long term financial plan. To differentiate yourself in an increasingly automated, digitized world, you need increasingly higher levels of human touch, sensitivity and bespoke tailored solutions.
For more of Wealth Professional's latest industry news, click here.
