High-net-worth (HNW) clients are a cream-of-the-crop vertical that, when provided with superior service, often lead to a steady stream of sound, qualified referrals. This group can also represent a long-term, high-loyalty demographic—making it even more compelling to attract and retain HNW clients to build a profitable firm.
Building strong, long-lasting client-advisor relationships is the key to achieving the “sticky factor.” In other words: creating service value so great that it makes it hard for clients to leave you. For example, adding bill pay services to the mix is a proven way to increase stickiness because it offers a value-added, highly sought-after service. Further, using an advanced, automated platform to perform bill pay tasks provides meaningful interactions and frequent touch points that enable firms to become more embedded with clients.
