Recovering From The Meltdown

One year ago, America’s financial system teetered on the edge of ruin. Happily, we avoided the worst. However, in the year since the crisis erupted and securities prices collapsed, even the most successful advisory firms suffered decimated fees and are earning a lot less. Worse still, confidence in all things financial—including advisors—has been similarly debased. Are you planning your comeback yet?

With Labor Day behind you and the final quarter of 2009 closing in, it’s time to start planning your firm’s recovery. It’s a good time to think strategically about you’re going to make 2010 a better year.

Part of your 2010 recovery plan is likely to focus on serving existing clients, and that what this post is about. It’s about making sure you know what your clients think about you and aligning your services and marketing with what clients want.

Julie Littlechild, the CEO of Advisor Impact, took me on a tour of Client Audit, a tool to systematize the client feedback process. Click on the image to the right to see a two-minute video about Client Audit or see my full review and a nine-minute demo at A4A.