The results from our Sixth Annual Dollars & Sense Survey are in. Every year we survey advisors to learn what you earn, to see how the industry changes from year to year and to find out about your practice challenges. This year, for the first time ever, we also took time out to talk to your clients and hear what they think of your offering. It turns out that delivering service in such a way that clients appreciate your efforts is one of the top challenges facing a lot of people in the industry.

Dollars, sense and (client) sensibilities
This year, for the first time ever, we’ve surveyed clients as part of our Annual Dollars & Sense Survey to get their take on your service. The numbers are in and there is some good news to report, but unfortunately there’s also a world of disconnect between the ideals you espouse and the reality clients perceive.

Service audits, relationships and retention
If you think clients are more demanding, you’re not alone. Retention is often the focus for success-minded advisors because they know that lost clients dramatically affect the bottom line. Conducting a service audit is a proactive way to help identify problems at an early stage, before problems become serious enough that clients walk.

Steal this idea: Hire a relationship manager
Perhaps this isn’t an original idea, but all the talk about building relationships — clipping and sending articles of interest to clients, systematic phone calling, even staying on top of birthday cards — almost seems like enough work for a full-time person to manage nicely. It’s too bad you’ve got a job to do, eh?