You see it all the time. Your satisfaction is our goal or Were not satisfied until youre satisfied. Consumerism has, for the most part, taught us that satisfaction is the standard. In the financial advisory business, satisfaction is unacceptable. Satisfied clients are not loyal clients and loyal clients are the only good clients. Thus, the myth of the satisfied client. Satisfied clients will kill your business. The motto should be, if youre only satisfied, fire us!
A fund family survey I recall from a handful of years ago stated that roughly one in ten affluent clients regarded themselves as loyal. The others labeled themselves as moderately satisfied or satisfied. The moment I read those statistics, I had a client service epiphany and realized that there are only two categories of clients. Clients are either loyal or disloyal. And if we accept that satisfied clients are, in reality, disloyal clients then we accept that our standard has to change.
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