This inexcusable mistake is the #1 reason given by high net worth clients for leaving their advisor… their advisor does not call them back promptly. Are you kidding me?
Here are the top 4 reasons given as to why people, with more than a $1 million invested, left their advisor:
- 73% of respondents listed their advisor not returning phone calls promptly as their top reason for leaving
- 57% said slow email response
- 56% said their advisor was not PROACTIVE in reaching out to them regularly
These top 3 are easily fixable things and almost worse than the #4 reason which is:
4. 57% indicated they left due to inadequate or faulty advice.
So, lesson is… be phenomenal at the easy stuff! It pays off. AND, communicate regularly with your prospects to show them that you communicate BETTER than the advisor that actually has their money! Who are they going to run to?
