We ran our first ever “Client Focus Group” at the start of December. It felt like the right time to gather the thoughts and feelings of the people that matter most, our clients.
We weren’t wrong. It turned out to be enlightening and invaluable. For the record, here’s a summary of what we discussed:
- Servicing – efficiency, likes/don’t like, meetings, fees, new features.
- Marketing – finding TCFP, life events, Jeremy vs TCFP, social media, updates/blogs, referrals.
A major bit of feedback centred on the future of TCFP; a separate blog will follow on this. For now let me give a bit more detail on the session.
TCFP has reached the point where it needs more than just me to think about how we go about things. So who better to ask than our clients?
I’d encourage anyone who works with private clients on a long-term basis to do this. Within ten minutes I knew it was exactly the right thing to do;, these groups will make TCFP better and quicker than if I was left to my own devices.
In the room were clients with different backgrounds, experiences and interests. Each of them with their own unique personalities and lives.
However, it was striking how similar they sounded, there was a lot of commonality. They spoke from the same place and have the same hopes and concerns and some very similar traits.
Namely, they are able to speak openly, express and explain themselves and listen. Just as importantly, I am able to do the same in their company, with listening being the key to it all.
At the highest level this was the main takeaway for me.
I was quite surprised when it first dawned on me as I hadn’t been expecting it. On reflection it started to make sense. It’s the result of the (sub)conscious selection process we went through together.
It’s these similarities that make for a rewarding, productive and valuable relationship rather than one that isn’t.
The other big thing that struck me was the dynamic of a group.
It’s very different to a one-on-one meeting. Although I generally ask the same questions face to face as I did in the group, the group provided better, full feedback. I think there was a sense of safety in numbers; they really were able to open up.
Other than this and the long-term future of TCFP, there were several excellent pointers. People like a “dashboard”, they will not click on social media adverts and they like regular contact and updates.
Also, they’ll refer but only in their own time and way. There is no magic formula to encourage this, other than reminding clients that we have some capacity and would rather it went to people they care about.
And that was about it. The findings from the first group will shape the second group and so on.
future proofing your finances
advice@townclosefp.co.uk
Town Close are expert financial planners. Our goal is the same as yours – to help you do the things that are important to you in the time you have remaining.