Knowledge and Insight > Thought Leadership

Differentiated Service Requires Understanding Your Advisor Base \- And that Means Segmentation

Carrie Hansen | WealthManagement.com, January 2017

Summary: Third-party providers seeking to attract advisors often point to service as a differentiator in the marketplace. Yet, what service means to one advisor is often quite different to another advisor depending on size, circumstances, goals and more. By segmenting advisors, TAMPs (Turnkey Asset Management Programs) and other providers can better understand and support their clients, often dispelling some common misunderstandings about service expectations in the process.

Firms that offer differentiated service models based on strategic segmentation will provide the best results and retain the most advisors. At the same time, firms must also remember that each advisor is different and requires individualized service to meet their needs. It’s important for a firm to work to understand those specific needs and service those accordingly.”