Keeping up to date is key to staying ahead of the game, and the recent results of our first ever client satisfaction survey have given us a deep dive into the most pressing concerns of our clients as a snapshot of the IFA market. Clients were asked 15 questions in order to measure opinion of performance, support and resources amongst other metrics, and even against the backdrop of COVID-19, the results make for very reassuring reading. A slight majority use CleverAdviser over CleverMPS (66.7% to 60.8%), however the results are quite similar for both.
Despite the COVID-19 rollercoaster of 2020, the industry has shown great fortitude and the survey results reflect that, with 57% of those surveyed remaining reasonably confident about the ongoing situation. The sector and the economy will face continued uncertainty as we head towards winter, but it’s clear that Clever’s innovation, flexibility and endurance has secured the confidence of clients.
Clever thinking, Clever performance
COVID-19 aside, Clever’s own performance goes from strength to strength, with sky-high approval (94%) for the performance of its services. 96% find the data they receive from Clever useful in assisting their role with clients, while our reputation is steadily shoring up future success with 90% of IFAs looking to assign more clients to Clever’s investment services.
Heather Kearns, Business Development Manager at CRS Consultants explains how important this is for their own growth; “Our clients have seen some fantastic results on their investments; consequently, through recommendations to their friends and family, this has resulted in more clients joining us and entering into the Clever service, and as a result, providing organic growth within the business.”
So it should come as no surprise that 96% of clients would recommend Clever to a friend or a colleague, and we’ll do everything we can to improve these results.
(Tiny) Room for improvement
Tightening up on data delivery is the only area for focused improvement, with ‘perfect’ responses coming in at a reasonable 67%. As the services continue to evolve, we will be able to provide you with better access to more data, so that’s one for the development list!
When it comes to worries, the performance and cost of client portfolios are naturally paramount. For CleverMPS, our quarterly cost versus performance analysis of peers shows that we beat most of the competition, most of the time. Adapting to regulatory changes also remains high on the list and we’re always ready to support clients with research and guidance on new or less-talked-about regulation. Many of you gave communicating with clients and integrating technology similar rankings and we can’t stop thinking how connected these two issues are. And this is precisely why the email functionality is so important to what we offer.
Regarding what resources clients prefer to see, nearly 80% of those surveyed expressed interest in more education guides that they can provide to their own clients. We have more of these in the pipeline and welcome ideas for future topics. Our webinars came in second, while ideas for client engagement during a prolonged lockdown came last, proving that the prevailing attitude is very much business as usual. In terms of thought leadership, contenders for our most helpful current content are drawn almost equally between our insight articles, monthly newsletters, and factsheets, showing a consistent appetite for high-quality, practical information.
The personal touch
Despite leading the field in automated services, Clever believes very strongly in its people, and scores highly for its customer service as a result. 92% cite satisfaction with the support team, described by Heather Kearns as, “very polite and helpful, with nothing being too much trouble,” while other positive comments mention being “very impressed with communications”.
While it’s incumbent on innovative businesses to re-shape themselves in the face of feedback, early indications are that Clever is strongly on the right track. Taking the bias and emotions out of investment decision-making is clearly reaping rich rewards for IFAs and clients alike. When it comes to adding value as a service provider, we try to strike a healthy balance between thought leadership, technology, and collaborative, personable communications.
We thank all of our survey participants and look forward to shaping the future. Together.