Personal Touch Financial Services has launched a free online service which will allow member firms to gather customer feedback to help them improve the service they provide to clients, as part of its focus on ‘treating customers fairly’ principles.
Insight has been piloted over the last few months with a group of Personal Touch members, with the aim of ensuring that it adds maximum value to their businesses and integrates smoothly into their sales and advice process.
The adviser firms receive an automated report with anonymous, aggregated feedback broken down at individual adviser and at firm level every fortnight as part of the new system.
David Carrington, marketing director at Personal Touch, said: “The FCA expects firms to know how advisers interact with clients during the advice process and our new Insight service gives members a fully automated solution to help them manage this process.
“Each of the client feedback questions are designed to provide our members with clear evidence as to whether they are achieving the level of TCF that would be expected within their business and it will also allow principals to identify if any of the outcomes aren’t being achieved to the required level so they can address the problem quickly and rectify it.”
According to Mr Carrington, during the pilot, many firms received over 20 per cent response rates from clients “which is exceptionally high by any direct marketing standard”.
He said: “This clearly demonstrates the benefits that clients feel from being more involved in their advice process and their enthusiasm to be involved in the growth and development of their adviser firm.”