{"id":4531,"date":"2020-01-28T15:00:00","date_gmt":"2020-01-28T15:00:00","guid":{"rendered":"https:\/\/emoneyadvisor.com\/blog\/triple-play-deliver-an-exceptional-client-experience-using-the-rule-of-threes\/"},"modified":"2021-11-09T16:14:42","modified_gmt":"2021-11-09T16:14:42","slug":"triple-play-deliver-an-exceptional-client-experience-using-the-rule-of-threes","status":"publish","type":"thought_leadership","link":"https:\/\/emoneyadvisor.com\/blog\/triple-play-deliver-an-exceptional-client-experience-using-the-rule-of-threes\/","title":{"rendered":"Triple Play: Deliver an Exceptional Client Experience Using The Rule of Threes"},"content":{"rendered":"\r\n<p>It seems good things come in threes. The Three Little Pigs. Snap, Crackle, and Pop. Bacon, lettuce, and tomato. Can you tell it&#8217;s almost\u00a0<a href=\"https:\/\/www.cnn.com\/travel\/article\/american-food-dishes\/index.html\">lunchtime<\/a>?<\/p>\r\n\r\n\r\n\r\n<p>Recent eMoney research has uncovered compelling insights on how advisors can deliver a remarkable client experience\u2014what we call The Heart of Advice<sup>SM,<\/sup>\u00a0or when\u00a0<a href=\"https:\/\/info.emoneyadvisor.com\/flexgen\">successful advisors<\/a>\u00a0marry the emotional elements of behavioral finance with the scientific aspects of wealth management.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>The Rule of Threes<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>The results of our study created another powerful trio:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>The Head\u2014<a href=\"https:\/\/emoneyadvisor.com\/events\/\">industry knowledge<\/a>\u00a0and intelligence.<\/li>\r\n<li>The Heart\u2014empathy and understanding.<\/li>\r\n<li>The Hand\u2014<a href=\"https:\/\/emoneyadvisor.com\/blog\/does-your-tech-stack-give-customers-the-best-experience\/\">technology<\/a>\u00a0and communication.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p>Read on, while I head to the cafeteria and choose between a bowl of porridge that&#8217;s too hot, one that&#8217;s too cold, and one that&#8217;s just right.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>Reading, Writing, Arithmetic<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>We surveyed both advisors and investors on the concepts of the head, the heart, and the hand. Our goal was two-fold<sup>1<\/sup>: to determine how well client experience preferences aligned, and to identify strategies used by the most successful advisors.<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-columns has-2-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\r\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\r\n<p>An unplanned event\u2014like the death of a close family member or a job loss\u2014could lead a client who typically prefers the emotional components of the client experience to shift toward a need for factual and analytical support.<\/p>\r\n<\/div>\r\n\r\n\r\n\r\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\r\n<h4 class=\"wp-block-heading\"><strong>Did you know? Advisors who incorporate the Heart of Advice into their practice reported<sup>2<\/sup>:<\/strong><\/h4>\r\n\r\n\r\n\r\n<ul>\r\n<li>95% client retention rate<\/li>\r\n<li>\r\n\r\n<\/li>\r\n<li>20%+ AUM &amp; compensation growth in the last 5-years<\/li>\r\n<li>\r\n\r\n<\/li>\r\n<li>20%+ growth in total clients in the last 5-years<\/li>\r\n<\/ul>\r\n<\/div>\r\n<\/div>\r\n\r\n\r\n\r\n<p>Advisors might need to walk these clients through the steps of executing a will, transferring a 401(k) account, or tapping an emergency fund.<\/p>\r\n\r\n\r\n\r\n<p style=\"text-align: left;\">Clients who are normally factually focused may want their advisor to appear more compassionate following a negative life event. They may appreciate an advisor who sends a sympathy card, or they may prefer a bit more space before getting started on the next steps of the financial process.<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter is-resized\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-26771\" src=\"http:\/\/blog.emoneyadvisor.com\/wp-content\/uploads\/2020\/01\/shutterstock_1065757589_edit-651x410.jpg\" alt=\"An advisor gives clients a better experience by embracing the Heart of Advice.\" width=\"606\" height=\"382\" \/><\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>On Your Mark, Get Set, Go<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>Advisors need to sense these changes and adapt in the appropriate direction.\u00a0<a href=\"http:\/\/blog.emoneyadvisor.com\/advisor-perspectives\/best-practices\/webinars\/upcoming-webinar-the-heart-of-advice\/\">Getting to the Heart of Advice<\/a>\u00a0means constantly assessing client preferences and adjusting as needed.<\/p>\r\n\r\n\r\n\r\n<p>How advisors choose to integrate the science, art, and technology of advice will determine the quality of their clients&#8217; experiences. To create an exceptional client experience, advisors need knowledge, authentic engagement, and\u00a0<a href=\"http:\/\/blog.emoneyadvisor.com\/advisor-perspectives\/understanding-the-cfp-boards-new-standard-on-technology-for-financial-planning-software\/\">client-centric technology<\/a>.<\/p>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><strong>Triple Threat<\/strong><\/h3>\r\n\r\n\r\n\r\n<p>By understanding client priorities along these three dimensions, advisors can learn how to re-orient their business, improve their client experience, and generate better growth. You&#8217;ve learned quite a bit while I had my lunch\u2014ending, of course, with a Three Musketeers.<\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 20px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/info.emoneyadvisor.com\/heart-of-advice-2020\">Click here<\/a> to discover how eMoney can help you deliver a more effective client experience by embracing The Heart of Advice.<\/h3>\r\n\r\n\r\n\r\n<div class=\"wp-block-spacer\" style=\"height: 23px;\" aria-hidden=\"true\">\u00a0<\/div>\r\n\r\n\r\n\r\n<p><sup><em>1<\/em><\/sup><em>Not three-fold, unfortunately<\/em><\/p>\r\n\r\n\r\n\r\n<p><sup><em>2<\/em><\/sup><em>eMoney Heart of Advice Research Report, September 2019<\/em><\/p>\r\n\r\n\r\n\r\n<p><em>Photo: Shutterstock<\/em><\/p>\r\n","protected":false},"author":38,"featured_media":4532,"template":"","thought_leadership_cat":[92,94,93,91],"class_list":["post-4531","thought_leadership","type-thought_leadership","status-publish","has-post-thumbnail","hentry","thought_leadership_cat-client-experience","thought_leadership_cat-financial-planning","thought_leadership_cat-industry-news-and-trends","thought_leadership_cat-practice-management"],"acf":{"left_sidebar_ads":false,"right_sidebar_ads":false},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Triple Play: Deliver an Exceptional Client Experience Using The Rule of Threes | eMoney Advisor<\/title>\n<meta name=\"description\" content=\"Learn the three elements advisors can use to marry behavioral finance with wealth management to deliver a remarkable client experience.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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