Why Advisors Should Care About User Experience

Posted by Andrea Collatz on July 3, 2012

The industry is forcing advisors to think differently about their business. It’s important to not only think about the service you’re delivering, but also how you’re delivering it. In an online sense, this concept is often termed user experience (UX).

Why should you care about user experience? Aside from the fact that you’ll be giving clients greater ease of use and functionality, research by Gartner shows a direct correlation between client experience and loyalty in every industry, with that loyalty resulting in increased revenue and profitability.

With investors demanding more than ever before – more transparency, more information, and more guidance, it is up to the advisor to meet these rising expectations with corresponding improvements in user experience. When the advisor successfully delivers on investor expectations through user experience, the investor is more likely to have a positive view of the relationship.

Quality user experience for investors often means advisors must be willing to “go mobile.” This translates to giving clients the ability to view their account information anywhere, anytime, on any mobile device. Not only does the investor gain greater peace of mind by having easy access to their information, it also means greater freedom for the advisor, who can now engage with clients in a more personal setting.

Think about it, as your clients become accustomed to accessing information from their mobile devices, shouldn’t they expect the same on-demand access when it comes to their accounts?

While mobility plays a large role in user experience, UX encompasses much more than mobility. For advisors, a quality user experience for them and their clients means:

  • Advisors and reps should have real-time account statistics.
  • Advisors and clients should see the same data at the same time.
  • The ability to review performance reports with clients anytime, anywhere.
  • Clients experience an intuitive, easy, engaging interface.

The end result is increased transparency, consistency, and personalization, ultimately leading to greater client loyalty. Is it time to reevaluate your clients’ user experience?

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