Financial advisors face unrelenting competition, anxious investors, and the most turbulent market conditions in decades. Yet, despite this volatility, advisors who offer their clients unprecedented service through these difficult times gain true "trusted advisor" status and grow their business. A recent study conducted by CEG Worldwide reveals how important client service and communication are in building high-value client relationships. View the presentation below.
Meet compliance regulations: GLBA FINRA SEC Sarbanes-Oxley...
Sendside communications easily meet compliance mandates for GLBA and Sarbanes-Oxley (SOX) as well as for electronic storage and archive (SEC Rule 204-2), electronic records (SEC 270 and 275), third-party access to those records (SEC 17a-4), along with FINRA regulations (2210) and FRCP rules.
Value of Service Versus Returns
According to the CEG study, clients value more frequent, meaningful communication and service from their advisors. When asked why they left their advisor, only 13% left due to poor returns; a full 87% left due to poor service.
Frequency of Contact Matters
The study also shows that clients are most satisfied when they have communication with their advisor more than twice a month, or an average of 28 times a year. When communication falls below 17 times per year, there is a dramatic fall-off in client satisfaction.
Real Value of "High Touch" Client Relationships
The most telling results in the CEG study pointed to the true value of high touch relationships. In comparison to "satisfied" clients, "loyal" clients invested 20x the additional assets with their advisor, purchased 10x the additional products, and made 5x the number of client referrals. The study also showed there was zero attrition among clients identified as 'loyal'.
The Challenges of High Touch Relationships
For most financial advisors, developing and maintaining high touch relationships has been difficult. Many create client portals to offer real-time access to information, only to find that client adoption and usage remains very low. And, in most cases, when it comes to sending confidential or important information to clients, the standard delivery method is still U.S. Mail or courier service. Neither option offers a rewarding, interactive, or compelling experience for the client.
Introducing Sendside -- Delivering High Touch
Sendside is an entirely new client communication platform that opens a secure electronic delivery channel directly to your clients. Sendside's powerful security and encryption technologies make it ideal for sending important and confidential information while ensuring that SEC and FINRA compliance mandates are met.
Sendside also offers the best possible end-user experience for your clients -- combining the simplicity of email with the functionality of a web portal -- all delivered directly within an advisor-branded secure message.
Cost Effective and Flexible
Sendside delivers an enterprise-class communication solution without the complexity. Sendside's software as a service model (SaaS) offers small- to mid-sized firms a hosted solution that can be managed from a single administration console, and can be up and running the same day. Larger organizations can use Sendside's flexible APIs to easily integrate existing web services and applications into the Sendside platform and offer clients interactive capabilities delivered within a message.
Compliance Made Easy
Sendside was also designed to provide a complete compliance and archival capability for long-term storage of all communications -- or it can integrate with your existing compliance/archival application. Sendside is compliant with FINRA, SEC, and many other industry regulations.
High Touch ROI
At the end of the day, the most innovative technology falls flat if its cost and complexity outweigh the benefits. Sendside delivers clear above-the-ine and below-the-line benefits.
Sendside Delivers
New Opportunities / Revenue
- Increased Assets Under Management (AUM)
- Improved client retention
- More referrals
- Fewer investor redemptions
- Best experience for clients
- Competitive differentiation
Greater Efficiency / Risk Reduction
- Optimal security
- Regulatory Compliance
- Granular control of messages & documents
- Time savings
- Operational efficiencies
- Cost reduction
A recent study conducted by CEG Worldwide revealed how important client service and communication was in building such a relationship -- and the real value it can provide.
See the importance of frequent high-touch communications for wealth managers 
