Unsatisfied clients. Just 14% of advisors are delivering the comprehensive advice clients crave, according to JD Power. “Firms have spent countless resources in efforts to transform their culture and elevate the advisory experience, yet most struggle to make it a reality,” writes Tom Rieman, senior director and head of wealth solutions at JD Power, in his latest Barron’ s column.
Most advisors know that client expectations are rapidly evolving from a legacy sales-driven experience toward a more contemporary and comprehensive advice-centric value proposition.
But JD Power research shows that although clients place significant value on this preferred experience, only a small fraction of advisors are delivering on it.
About the Author
Tom Rieman is the Senior Director and Head of Wealth Solutions at JD Power. He has 25 years of experience in the wealth management industry including extensive work in asset management distribution and the broker dealer eco-system with a primary emphasis on process and performance improvement.
Tom is a frequent speaker at national conferences having a passion for understanding the essential nature of advice and how wealth management firms can best help advisors deliver the optimal client experience. He is a Certified Private Wealth Advisor (CPWA).
More Articles by Tom Rieman
Moment of Truth: Using Client Feedback as a Catalyst for Evolution, Barron’s , 23 March 2022
Changing to a More Robust Advisory Practice Is Hard. These Steps Can Help,
Barron’s, 21 January 2022
Why Advisors Shouldn’t Just ‘Check the Box’ on Client Risk Tolerance, Barron’s, 2 September 2021
6 Ways Advisors Can Reach the Summit of Client Experience, ThinkAdvisor, 25 May 2021