What is an Advisor Loyalty Assessment?A satisfaction survey that evaluates the health of the relationship between a company and its financial advisors, with the intent of gauging future advisor behavior.
What are the Benefits of an Advisor Loyalty Assessment?
- The Advisor Loyalty Index clearly identifies the strength of the business relationship as well as business at risk.
- Baseline of advisor sentiments is comparable over time.
- Strengths and weaknesses in business practices that put the advisor relationship at risk are uncovered.
- Advisor feedback allows for prioritization of initiatives.
- Departments and business units that excel in supporting and solidifying advisor relationships can be publically recognized and rewarded.
How does Dalbar Measure Advisor Loyalty? Advisor loyalty is determined by means of an opinion survey, gathering advisor feedback on the following vital signs:
- Willingness to recommend
- Current use of products/services
- Intent to change future use of products and services
- Overall opinion
- Company’s ability to meet the advisor’s expectations
What does an Advisor Loyalty Assessment provide?
- Summary of findings and supporting data.
- Applicable Dalbar designation (Excellent, Very Good, Good) and supporting scoring details.
- Results are segmented by each area evaluated and/or customized to fit your specific needs.
- Actionable recommendations based on key findings
- Optional: additional analysis or presentation of findings provided by Dalbar in order to:
- Answer questions
- Provide further details and explanations
- Lead discussion around findings and next steps.
What is the cost? Survey costs range from $10,000-$20,000 for an initial engagement.
Subsequent/additional surveys of the same audience range from $8,000-$15,000