Safecharge (LSE:SCH)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Safecharge Charts. Click Here for more Safecharge Charts.](/p.php?pid=staticchart&s=L%5ESCH&p=8&t=15)
New Schwab Institutional Industry Report Reveals Affluent
Investors Have a High Degree of Trust in Independent Investment Advisors
Affluent Investors Rank Investment Performance Seventh Behind Advisor
Trustworthiness and Competence; 90% Would Refer Their Advisors to Others
SAN FRANCISCO, May 23 /PRNewswire-FirstCall/ -- Nearly 90 percent of affluent
investors working with an independent investment advisor are "very satisfied"
with the level of "trustworthiness" of their advisor according to new industry
research developed by Moss Adams and Advisor Impact for Schwab Institutional.
The report, "Key Strategies For Building Optimal Client Relationships: Analysis
Of Advisor End-Client Feedback", also reveals that a full 90 percent of clients
surveyed would be comfortable providing referrals to their financial advisor.
The report summarizes Advisor Impact and Moss Adams findings from more than
6,000 responses from clients of advisors over a two-year period, one of the
most comprehensive advisor client studies of its kind. The survey focused on
two key questions about the client service provided by advisors: What do your
clients expect from you? How well are you meeting those expectations?
Among the other report findings are:
-- Investment performance is not the most important aspect of service for
advisors' clients -- it ranks seventh behind issues such as advisor
trustworthiness and competence.
-- On average, just seven percent of the respondents say their accounts
are at risk (at risk meaning they are neutral or dissatisfied with the
overall relationship with their financial advisors). For clients with
more than $500,000 in total investable assets, five percent are at
risk.
-- Nearly half (47%) of respondents with more than $500,000 in investable
assets say they have never held a family meeting to discuss plans for
their estates.
-- The majority of respondents (59%) say communications from their
advisors with an educational focus are more valuable than client
appreciation events.
-- Roughly 60 percent of respondents say they are comfortable discussing
their plan or portfolio with a member of the team other than their
primary financial advisor.
-- Sixty-three percent of respondents indicate that the frequency of
contact with their advisor meets their needs.
"This one-of-a-kind study makes it clear that affluent investors who work with
advisors are extremely satisfied and have a strong and trusting relationship
with their advisors," said Ann Simon, vice president of Schwab Institutional.
"Building client loyalty has a direct and measurable impact on revenue, and
we're pleased to be able to support advisors with the tools they need to
further enhance the loyalty their clients feel toward them."
Key Strategies for Satisfaction
The report provides key findings and analysis, along with actionable steps
advisors can take to build optimal relationships with their clients. The
strategies focus on:
-- Maximizing client loyalty. Highly satisfied clients remain loyal and
profitable. This section discusses the importance of focusing on a core
offering and outlines how to manage client expectations.
-- Unlock the untapped revenue opportunities. Client profitability
improves when there is opportunity to sell additional products and
services, generate referrals and earn a larger percentage of clients'
investable assets. This section outlines three steps to improving a
firm's revenue-building opportunities.
-- Systematically gather feedback. By defining a service model and
gathering actionable feedback there is opportunity to continually
reinforce how a firm meets expectations and reinforces its value. The
report provides a sample self-assessment to help firms structure a
survey to gather client satisfaction and client opportunity data.
"Key Strategies For Building Optimal Client Relationships: Analysis Of Advisor
End-Client Feedback" is the latest in a series of Schwab Market Knowledge
Tools(TM) (MKT) reports, an ongoing program of industry research reports, white
papers and guides from Schwab Institutional designed to keep investment
advisors on the forefront of trends and competitive challenges facing the
industry today. Offered exclusively to Schwab Institutional clients, the MKT
program delivers relevant and timely information for future business planning.
About Schwab Institutional
Schwab Institutional, a division of Charles Schwab & Co. Inc., is a leading
provider of custodial, operational and trading support for independent
fee-based investment advisors. Client assets custodied with Schwab
Institutional increased 16 percent to $352 billion between March 31, 2004 and
March 31, 2005. These assets, managed by the approximately 5,000 independent
advisor firms Schwab Institutional serves, represent approximately one-third of
total customer assets custodied with The Charles Schwab Corporation as of March
31, 2005.
About Moss Adams
Moss Adams LLP provides accounting and management consulting services to
advisory firms throughout the US, Canada and Australia. With a particular
expertise in the financial services industry, Moss Adams has provided
consulting services to more than 1,200 investment management firms,
broker-dealers and financial advisors on matters related to compensation,
organizational design, valuation, mergers and acquisitions, financial
management, strategic planning and leadership development. Moss Adams is the
eleventh largest accounting and consulting firm in the U.S., with a staff of
1,100, including 180 partners. For more information on Moss Adams, visit
http://www.mossadams.com/industries/sin.
About Advisor Impact
Advisor Impact, Inc. provides research, training and tools to help financial
advisors to improve client loyalty and profitability and is a leading provider
of research on attitudes and trends among investors and advisors. Advisor
Impact's very successful Client Audit program, designed to gauge satisfaction
and identify additional opportunities among existing clients, is offered in
partnership with Moss Adams. In addition, Advisor Impact developed The
Business Success Kit, a guidebook to improved practice management and provides
on-going training focused on assessing and improving client profitability.
Incorporated in 1998, the firm works with advisors in the US, Canada and the
United Kingdom. For more information go to http://www.advisorimpact.com/.
About Charles Schwab
The Charles Schwab Corporation (NYSE/Nasdaq: SCH), through its operating
subsidiaries, provides securities brokerage and financial services to
individual investors and the independent investment advisors who work with
them. With over 7 million individual investor accounts and more than $1
trillion in client assets, The Charles Schwab Corporation is one of the
nation's largest financial services firms. Its subsidiary Charles Schwab & Co.,
Inc. (member SIPC) provides a complete range of investment services and
products, including an extensive selection of mutual funds; financial planning
and investment advice; retirement plans; referrals to independent fee-based
investment advisors; and custodial, operational and trading support for
independent fee-based investment advisors through its Schwab Institutional
division. Its subsidiary Charles Schwab Bank (member FDIC) provides banking and
mortgage services and products. The corporation's other operating subsidiaries
include U.S. Trust Corporation (member FDIC) and CyberTrader(R), Inc. (member
SIPC) .These companies' Web sites can be reached at http://www.schwab.com/,
http://www.schwabbank.com/, http://www.ustrust.com/, and
http://www.cybertrader.com/.
DATASOURCE: Charles Schwab
CONTACT: Lindsay Tiles of Charles Schwab, +1-415-667-3997, or
Web site: http://www.schwab.com/