INDUSTRY VOICE: Knowing how investors select advisers is key to better understanding your clients. We identified five profiles of common client types who tend to share important traits. Our findings suggest how you can deepen your relationships with each of them.
There is naturally significant variety among investors. However, we have identified five profiles of common client types who tend to share important traits. Our findings suggest how you can deepen your relationships with each of them. These profiles won't replace how you segment your own business, but they can complement your approach.
As explained here, we've found that behavioural factors - notably, investors' sense of their own investment knowledge and the degree to which they care about advisers' technical and 'soft' skills - are important drivers in the selection process.
Also important, of course, are referrals. As you've probably found, a prospect who is referred to you is more likely to become a client - and a loyal one at that. Interestingly, and perhaps counterintuitively, we note that the source of a referral isn't particularly significant. Recommendations carry about the same weight whether they come from a neighbour, friend or another professional adviser, such as a lawyer or an accountant.
Important information
Issued by Vanguard Asset Management, Limited which is authorised and regulated in the UK by the Financial Conduct Authority.
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