December 20, 2015
An outstanding customer experience might be the secret to keeping today’s HNW clients satisfied, but building the wealth management business of tomorrow depends on encouraging existing customers to recommend the firm within their network.
Net Promoter Score, or NPS, is typically used to measure positive client sentiment and our analysis finds that 23% of wealthy Europeans are “promoters” actively ready to become brand ambassadors and promote the services of their wealth manager.
Yet a comparison of NPS scores between HNW Europeans and their peers in the Americas reveals that European firms could be doing more. One in two HNWI in the Americas are classified as promoters, whilst a further third are neutral.
HNW Europeans are open to the concept of advocating their wealth manager but activity is very much dependent on wealth managers giving clients confidence in the relationship, opening dialogue about referrals and, finally, by reinforcing corporate values through every aspect of their engagement.