The results are in! Harpsden’s Client Survey 2017

Harpsden Wealth Management Client Survey 2017

First of all, Harpsden Wealth Management would like to say thank you to the 124 clients who were able to find enough time to take part in our 2017 survey. This is close to being 40% of those contacted and is an excellent response rate. We would also like to thank Mike Moran of Market Measures for conducting the survey and preparing this summary document.

Overall Ratings

In general, Harpsden Wealth Management clients are either ‘Extremely’ or ‘Very’ satisfied with the service they receive overall.

Ratings of both the service from their adviser and the quality of advice received were even higher than the overall ratings.

Ratings of the quality and volume of communications from Harpsden also received very good ratings – but at slightly lower levels than the personal service and quality of advice. Rest assured, we will do our best to think of ways in which we can further enhance our reporting. Some clients wanted simpler communication and less ‘jargon’.

Client Concerns

Broadly, client interests and concerns fell into three broad categories:

  • • Worries about the effect of global conflict, political uncertainty and Brexit upon their wealth in the future
  • • Concerns about the impact of future low returns on retirement funds and whether these funds would prove sufficient for future needs
  • • Whether they would be able to see sufficient growth in investments.

However, at the same time, clients seemed much more likely to trust Harpsden Wealth Management as a source of guidance and information than any other – nearly twice as much as their own bank, for example:

Personal Relationships are Crucial

The most important thing in dealings with Harpsden continues to be the relationship between the client and their individual advisers. This element is very closely related to the second most important aspect – the quality of advice received.

Product Performance

When asked about the specific services clients had used from Harpsden, a broadly positive reaction was received with the best ratings seen in relation to:

  • • Pensions consultancy
  • • Financial protection
  • • In-retirement planning
  • • Portfolio management

Areas of development for Harpsden might include tax planning, enhanced commentaries on the current financial situation and further briefings on financial issues.

Would you recommend Harpsden?

Many companies make use of a key question in surveys asking whether clients would ‘recommend’ that company to friends and relatives. This question allows the calculation of a value known as the “Net Promoter Score” (NPS). We are proud to announce that our NPS is +63.

To give you a feel for how this compares with other companies, we can tell you that this compares well with some companies like Apple and Amazon who are seen as good for their levels of customer service. Financial institutions typically get much lower scores than these companies with NPS rating around zero. Utility companies see ratings that are generally negative.

Our conclusion

We were pleased to see that level of satisfaction with the service provided by Harpsden remains high (unchanged since the last survey in 2014). There are things that we can improve upon – but it looks as though we are getting most things right. Maintaining a high level of service is a challenge – but we now have a benchmark against which our future performance can be judged. Once again thank you all for your help in setting these benchmarks and rest assured that we will continue to work hard to improve the service we provide.

Harpsden Wealth Management, 2nd May 2017

Download report here

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