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HNW referrals, net promoter score and awesome tech

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Imagine being able to give your clients the ability to access all of their financial data, on the move, 24/7... The freedom this would give them, and how this could revolutionise your relationship with them. Not only will they be able to access their investments and pension and general savings portfolios,...

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by moneyinfo
| 01/11/2017 12:00:00

According to Scorpio Partnership, high net worth clients are willing to refer their wealth manager more than ever before.

Scorpio are by far the market leaders in knowing what HNWs think and over the last few years they have diligently been tracking HNW client sentiment and willingness to refer through metrics like Net Promoter Score (NPS).

If you don’t know what NPS is, according to Fred Reichheld in his Harvard Business Review article, it’s the “one number you need to grow”. It is one of the most effective ways to measure the loyalty of your client relationships and drive referrals.

We won’t go into the science of NPS here but if you want to drive more referrals from your existing clients, moneyinfo now includes Net Promotor Score on your branded client dashboard. This allows you to measure their satisfaction and willingness to refer whilst they can view their entire financial wealth in one secure place with a single login.  

HNW Referrals Graph

By way of inspiration – Tesla is the king of NPS with a score of 96%; a little further down you will find tech giants such as Apple (72%), Amazon (69%) and Netflix (68%). So, while wealth management’s climb to over 30% has been a strong step in the right direction, there is an undeniably long road ahead.

Scorpio has also identified wealth management NPS is heavily influenced by economic conditions and market performance.  Do not let your referral rates be influenced by the things you can’t control.  Get them referring you when you deliver peace of mind, convenience and innovation through your own moneyinfo client account aggregation dashboard.