You’ve probably heard of CX, which is customer experience. But in the asset management world, it’s also important to think about the AX, which is the advisor experience. As you launch an offering or you continue to try to appeal to advisors, the easier you make it to work with your firm, the better.
Here are a few ways to make sure that your firm is being accessible and easy for advisors to work with.
Access to Your Materials
First of all, it’s important to make sure advisors can access your material easily, whether that’s on your website or through contacting your sales team. Same holds true for obtaining information about your firm. You don’t want advisors to have to go to your website and search around trying to find key pieces of information. It should be front center, clear and easy to find.
Access to People
Advisors are looking for access to people. Whether that’s that sales team and being able to talk to them on demand, or the management team – accessing them through events or even one-on-one meetings. Access to the humans behind the firm and the investment can be critical and important for creating a positive experience for advisors.
Updated Materials
Advisors need the asset managers they work with to be consistent in updating their materials. No one wants to invest a client in a product and then have only outdated information to provide status updates and answer questions. That is the signature of a bad advisor experience.
For example, the latest property acquisition should be front and center, easy to find, and current. This also helps create trust with advisors by showing them you are following through on your investment philosophy
Clear Communication
Finally, clear communication is essential both before and after an advisor makes an investment in your firm. Advisors need to know and understand:
- Your story and your investment philosophy
- How you approach doing business
- How you operate
- How you communicate with advisors and investors
- What your statements look like (are they easily understandable)
- What types of updates are you providing on an ongoing basis
All these things can help develop trust on both the front end, as well as after advisors and investors are invested in your product, which can then help perpetuate additional investments.
