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Organically grown

In a highly competitive market, strong referral relationships are more important than ever and can help attract clients, says Charles Wootton

10 October 2013

There is no doubt the intermediary sector is competitive. Advisers are continuously benchmarked against their peers, and the importance of providing unmatched levels of customer service cannot be ignored.

In the post-Retail Distribution Review world, clients need to feel valued more than ever, and they want proof that their adviser goes the extra mile time and time again. The bar has risen, and the sector has to respond.

It is inevitable that failing to provide high levels of customer service will result in heavy client losses - something that none of us can afford in today's industry. Existing clients are the holy grail. Before any adviser seeks to bring more customers on board, they first need to be assured that their current client base is happy with the service they provide. Taking a long, hard look at this aspect of their business is, undoubtedly, the best place to start.

Increasingly, we are seeing referral relationships adding another...

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