The term “The Client Experience” is a trendy phrase. You hear this phrase in all industries, such as coffee shops, car dealerships, tech companies and financial planning companies. This term conjures up thoughts of being in the moment or self indulgent experiences, like a spa visit. In fact, the definition of “experience” is an event or occurrence that leaves an impression on someone.
We at Fragasso Financial Advisors do not view our client experience as a single event or an occurrence. It’s a process we refer to as the “Dynamic Wealth Plan.” Many years ago, Robert Fragasso, CFP® envisioned a very different way of providing an all encompassing financial experience. That is why he became a CERTIFIED FINANCIAL PLANNER™ professional well before most brokers ever heard of this designation. He envisioned the need for an all encompassing financial journey from beginning to end. One’s financial journey is ever changing or “dynamic.” He knew this type of client relationship added more value than sporadic advice or individual transactional business.
Our firm draws on our 40+ years of client service to continuously analyze how to improve our relationships with our clients. In fact, our firm spent the summer working on the improvements that we recently instituted to assure quality of application across all clients. This series of training sessions involved the entire firm as the Dynamic Wealth Plan involves each of our roles at the firm.
Within the Dynamic Wealth Plan there are very specific steps that are required for each financial advisor and his/her team. While we do not waiver on the unalterable framework of what we must accomplish, these steps allow the flexibility of our personnel to address the client’s unique needs. The Dynamic Wealth Plan includes the totality of the client’s financial and emotional needs. Each individual experience is tied directly to a functional outcome. These outcomes are framed by the goals, objectives and expectations of the client. The Dynamic Wealth Plan is not something that only occurs at the beginning of the relationship. It covers every aspect from the initial contact to the conducting of financial data discovery to the financial analysis and investment management to the ongoing reviews.
To stress again, each step is outcome based to maximize the benefit to each client. For example, when we conduct an annual review, the goal is not to only review investment performance. The performance is important, but it is part of a larger financial picture. While your financial advisor conducts your review, there are many others who take part in preparing the review. Your portfolio manager and financial advisor revisit the financial schedules prepared in your initial plan. They are updated where needed. On staff, we have an estate planning attorney, an insurance analyst, a retirement plan specialist and other specialized personnel who are also consulted where needed. We have these resources in-house to provide you with this expertise and ultimately deliver all-encompassing financial advice. The intended outcome is to assist clients in carrying out their financial and emotional decisions based on our guidance. We are striving for the utmost client satisfaction as we work together to pursue clients’ goals. This is one example of the many experiences you will have with our firm. Each and every step is outlined the same way to assure the outcomes that you and our firm expect.
This process is our commitment to our clients and signifies our effort to be meaningful in our clients’ financial security and success. To solidify that commitment, I have accepted a new role at Fragasso as the Client Experience Manager. I will reach out to as many clients as I possibly can to ensure that we are doing exactly what I explained. In the meantime, I encourage you to reach out to me with any thoughts or suggestions. Your feedback is valuable and helps us to continue to fulfill our promise to guide and assist each and every one of you throughout your financial journey. I can be reached by phone at 412.227.3243 or by email at email@example.com. .
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