The Client-Centric Shift: How Financial Advisors Are Winning Affluent Clients and Earning Higher Incomes by Providing a Superior Client Experience
The Client-Centric Shift: How Financial Advisors Are Winning Affluent Clients and Earning Higher Incomes by Providing a Superior Client Experience
Overview
CEG Worldwide has conducted research in the financial services industry for more than a decade. As we all know, much has changed in the industry during those years. Economic upheaval, market turbulence and regulatory changes have all affected how financial advisors serve their clients and manage their practices. Client attitudes and expectations have changed, as well. Yet one thing has endured: There has consistently been one group of financial advisors who have set themselves apart from all others. By taking distinct actions that grow their businesses while serving their clients extremely well, these financial advisors have achieved levels of success that others in the industry have only dreamed of. At CEG Worldwide, our focus throughout the past decade has been on identifying these best practices and then sharing them with the industry. We do this both through research reports such as The Client-Centric Shift and through our coaching programs for financial advisors. Our goal, as ever, is to help financial advisors to increase their incomes and practice equity and to greatly improve the quality of their lives—all while serving their clients well. In our recent studies, we have polled only financial advisors who were well-established in the industry—those who had practiced for a minimum of five years and managed at least $50 million in assets. These studies produced a wealth of information on the best practices of these elite financial advisors—practices that have subsequently been adopted by many across the industry, with excellent results. As useful as these studies have been, at this juncture we decided that we wanted a view of the entire industry, not just of its elite segment. We believed that broadening our view could provide an even sharper understanding of how the practices of the more-successful financial advisors differ from—and are similar to—those of their less-successful counterparts. To this end, we conducted an online survey in August 2012 that sampled a population of more than 380,000 financial advisors nationwide. Our 2,128 respondents answered a battery of questions about how they attract and serve clients, manage their practices, and view their own satisfaction. From the data, we were able to draw a clear picture of the state of financial advisors today. We cover this in the first section of this report, The Study Group: A Snapshot of the Industry Today. Next, we found that many financial advisors across all three income groups share key characteristics. We believe the data tell an emerging story of a fundamental shift in financial advisors’ priorities over the past decade—a shift that we believe can set the stage for greater financial advisor success and client satisfaction moving forward. We tell this story in the second part of this report, The Client-Centric Shift: The Lessons Learned from the Past Decade. We then zeroed in on the specific practices and priorities of the high-income financial advisors that separate them from the rest. We will see how these financial advisors leverage their client-centricity as a springboard for greater success and client satisfaction. By adopting these practices, we believe that all financial advisors can move to higher levels of success even as they serve their clients better. We delve into these practices in the final major section of our report, Leveraging the Client-Centric Approach: The Actions That Produce Superior Results.Description
Condition Guidelines
Books - New and Used
The following guidelines apply to books:
- New: A brand-new copy with cover and original protective wrapping intact. Books with markings of any kind on the cover or pages, books marked as "Bargain" or "Remainder," or with any other labels attached, may not be listed as New condition.
- Used - Good: All pages and cover are intact (including the dust cover, if applicable). Spine may show signs of wear. Pages may include limited notes and highlighting. May include "From the library of" labels. Shrink wrap, dust covers, or boxed set case may be missing. Item may be missing bundled media.
- Used - Acceptable: All pages and the cover are intact, but shrink wrap, dust covers, or boxed set case may be missing. Pages may include limited notes, highlighting, or minor water damage but the text is readable. Item may but the dust cover may be missing. Pages may include limited notes and highlighting, but the text cannot be obscured or unreadable.
Note: Some electronic material access codes are valid only for one user. For this reason, used books, including books listed in the Used – Like New condition, may not come with functional electronic material access codes.
Shipping & Delivery
Shipping Fees
- Stevens Books offers FREE SHIPPING everywhere in the United States for ALL non-book orders, and $3.99 for each book.
- Packages are shipped from Monday to Friday.
- No additional fees and charges.
Delivery Times
The usual time for processing an order is 24 hours (1 business day), but may vary depending on the availability of products ordered. This period excludes delivery times, which depend on your geographic location.
Estimated delivery times:
- Standard Shipping: 5-8 business days
- Expedited Shipping: 3-5 business days
Shipping method varies depending on what is being shipped.
Tracking
All orders are shipped with a tracking number. Once your order has left our warehouse, a confirmation e-mail with a tracking number will be sent to you. You will be able to track your package at all times.
Damaged Parcel
If your package has been delivered in a PO Box, please note that we are not responsible for any damage that may result (consequences of extreme temperatures, theft, etc.).
If you have any questions regarding shipping or want to know about the status of an order, please contact us or email to support@stevensbooks.com.
Returns & Refunds
You may return most items within 30 days of delivery for a full refund.
To be eligible for a return, your item must be unused and in the same condition that you received it. It must also be in the original packaging.
Several types of goods are exempt from being returned. Perishable goods such as food, flowers, newspapers or magazines cannot be returned. We also do not accept products that are intimate or sanitary goods, hazardous materials, or flammable liquids or gases.
Additional non-returnable items:
- Gift cards
- Downloadable software products
- Some health and personal care items
To complete your return, we require a tracking number, which shows the items which you already returned to us.
There are certain situations where only partial refunds are granted (if applicable)
- Book with obvious signs of use
- CD, DVD, VHS tape, software, video game, cassette tape, or vinyl record that has been opened
- Any item not in its original condition, is damaged or missing parts for reasons not due to our error
- Any item that is returned more than 30 days after delivery
Items returned to us as a result of our error will receive a full refund,some returns may be subject to a restocking fee of 7% of the total item price, please contact a customer care team member to see if your return is subject. Returns that arrived on time and were as described are subject to a restocking fee.
Items returned to us that were not the result of our error, including items returned to us due to an invalid or incomplete address, will be refunded the original item price less our standard restocking fees.
If the item is returned to us for any of the following reasons, a 15% restocking fee will be applied to your refund total and you will be asked to pay for return shipping:
- Item(s) no longer needed or wanted.
- Item(s) returned to us due to an invalid or incomplete address.
- Item(s) returned to us that were not a result of our error.
You should expect to receive your refund within four weeks of giving your package to the return shipper, however, in many cases you will receive a refund more quickly. This time period includes the transit time for us to receive your return from the shipper (5 to 10 business days), the time it takes us to process your return once we receive it (3 to 5 business days), and the time it takes your bank to process our refund request (5 to 10 business days).
If you need to return an item, please Contact Us with your order number and details about the product you would like to return. We will respond quickly with instructions for how to return items from your order.
Shipping Cost
We'll pay the return shipping costs if the return is a result of our error (you received an incorrect or defective item, etc.). In other cases, you will be responsible for paying for your own shipping costs for returning your item. Shipping costs are non-refundable. If you receive a refund, the cost of return shipping will be deducted from your refund.
Depending on where you live, the time it may take for your exchanged product to reach you, may vary.
If you are shipping an item over $75, you should consider using a trackable shipping service or purchasing shipping insurance. We don’t guarantee that we will receive your returned item.
Overview
CEG Worldwide has conducted research in the financial services industry for more than a decade. As we all know, much has changed in the industry during those years. Economic upheaval, market turbulence and regulatory changes have all affected how financial advisors serve their clients and manage their practices. Client attitudes and expectations have changed, as well. Yet one thing has endured: There has consistently been one group of financial advisors who have set themselves apart from all others. By taking distinct actions that grow their businesses while serving their clients extremely well, these financial advisors have achieved levels of success that others in the industry have only dreamed of. At CEG Worldwide, our focus throughout the past decade has been on identifying these best practices and then sharing them with the industry. We do this both through research reports such as The Client-Centric Shift and through our coaching programs for financial advisors. Our goal, as ever, is to help financial advisors to increase their incomes and practice equity and to greatly improve the quality of their lives—all while serving their clients well. In our recent studies, we have polled only financial advisors who were well-established in the industry—those who had practiced for a minimum of five years and managed at least $50 million in assets. These studies produced a wealth of information on the best practices of these elite financial advisors—practices that have subsequently been adopted by many across the industry, with excellent results. As useful as these studies have been, at this juncture we decided that we wanted a view of the entire industry, not just of its elite segment. We believed that broadening our view could provide an even sharper understanding of how the practices of the more-successful financial advisors differ from—and are similar to—those of their less-successful counterparts. To this end, we conducted an online survey in August 2012 that sampled a population of more than 380,000 financial advisors nationwide. Our 2,128 respondents answered a battery of questions about how they attract and serve clients, manage their practices, and view their own satisfaction. From the data, we were able to draw a clear picture of the state of financial advisors today. We cover this in the first section of this report, The Study Group: A Snapshot of the Industry Today. Next, we found that many financial advisors across all three income groups share key characteristics. We believe the data tell an emerging story of a fundamental shift in financial advisors’ priorities over the past decade—a shift that we believe can set the stage for greater financial advisor success and client satisfaction moving forward. We tell this story in the second part of this report, The Client-Centric Shift: The Lessons Learned from the Past Decade. We then zeroed in on the specific practices and priorities of the high-income financial advisors that separate them from the rest. We will see how these financial advisors leverage their client-centricity as a springboard for greater success and client satisfaction. By adopting these practices, we believe that all financial advisors can move to higher levels of success even as they serve their clients better. We delve into these practices in the final major section of our report, Leveraging the Client-Centric Approach: The Actions That Produce Superior Results.Description
Condition Guidelines
Books - New and Used
The following guidelines apply to books:
- New: A brand-new copy with cover and original protective wrapping intact. Books with markings of any kind on the cover or pages, books marked as "Bargain" or "Remainder," or with any other labels attached, may not be listed as New condition.
- Used - Good: All pages and cover are intact (including the dust cover, if applicable). Spine may show signs of wear. Pages may include limited notes and highlighting. May include "From the library of" labels. Shrink wrap, dust covers, or boxed set case may be missing. Item may be missing bundled media.
- Used - Acceptable: All pages and the cover are intact, but shrink wrap, dust covers, or boxed set case may be missing. Pages may include limited notes, highlighting, or minor water damage but the text is readable. Item may but the dust cover may be missing. Pages may include limited notes and highlighting, but the text cannot be obscured or unreadable.
Note: Some electronic material access codes are valid only for one user. For this reason, used books, including books listed in the Used – Like New condition, may not come with functional electronic material access codes.
Shipping & Delivery
Shipping Fees
- Stevens Books offers FREE SHIPPING everywhere in the United States for ALL non-book orders, and $3.99 for each book.
- Packages are shipped from Monday to Friday.
- No additional fees and charges.
Delivery Times
The usual time for processing an order is 24 hours (1 business day), but may vary depending on the availability of products ordered. This period excludes delivery times, which depend on your geographic location.
Estimated delivery times:
- Standard Shipping: 5-8 business days
- Expedited Shipping: 3-5 business days
Shipping method varies depending on what is being shipped.
Tracking
All orders are shipped with a tracking number. Once your order has left our warehouse, a confirmation e-mail with a tracking number will be sent to you. You will be able to track your package at all times.
Damaged Parcel
If your package has been delivered in a PO Box, please note that we are not responsible for any damage that may result (consequences of extreme temperatures, theft, etc.).
If you have any questions regarding shipping or want to know about the status of an order, please contact us or email to support@stevensbooks.com.
Returns & Refunds
You may return most items within 30 days of delivery for a full refund.
To be eligible for a return, your item must be unused and in the same condition that you received it. It must also be in the original packaging.
Several types of goods are exempt from being returned. Perishable goods such as food, flowers, newspapers or magazines cannot be returned. We also do not accept products that are intimate or sanitary goods, hazardous materials, or flammable liquids or gases.
Additional non-returnable items:
- Gift cards
- Downloadable software products
- Some health and personal care items
To complete your return, we require a tracking number, which shows the items which you already returned to us.
There are certain situations where only partial refunds are granted (if applicable)
- Book with obvious signs of use
- CD, DVD, VHS tape, software, video game, cassette tape, or vinyl record that has been opened
- Any item not in its original condition, is damaged or missing parts for reasons not due to our error
- Any item that is returned more than 30 days after delivery
Items returned to us as a result of our error will receive a full refund,some returns may be subject to a restocking fee of 7% of the total item price, please contact a customer care team member to see if your return is subject. Returns that arrived on time and were as described are subject to a restocking fee.
Items returned to us that were not the result of our error, including items returned to us due to an invalid or incomplete address, will be refunded the original item price less our standard restocking fees.
If the item is returned to us for any of the following reasons, a 15% restocking fee will be applied to your refund total and you will be asked to pay for return shipping:
- Item(s) no longer needed or wanted.
- Item(s) returned to us due to an invalid or incomplete address.
- Item(s) returned to us that were not a result of our error.
You should expect to receive your refund within four weeks of giving your package to the return shipper, however, in many cases you will receive a refund more quickly. This time period includes the transit time for us to receive your return from the shipper (5 to 10 business days), the time it takes us to process your return once we receive it (3 to 5 business days), and the time it takes your bank to process our refund request (5 to 10 business days).
If you need to return an item, please Contact Us with your order number and details about the product you would like to return. We will respond quickly with instructions for how to return items from your order.
Shipping Cost
We'll pay the return shipping costs if the return is a result of our error (you received an incorrect or defective item, etc.). In other cases, you will be responsible for paying for your own shipping costs for returning your item. Shipping costs are non-refundable. If you receive a refund, the cost of return shipping will be deducted from your refund.
Depending on where you live, the time it may take for your exchanged product to reach you, may vary.
If you are shipping an item over $75, you should consider using a trackable shipping service or purchasing shipping insurance. We don’t guarantee that we will receive your returned item.
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