We recently clients to participate in a confidential survey, rating our performance across a range of key areas, and asking for comments pertaining to our performance.
This survey was a follow-up to those conducted in 2009, 2010, 2012 and 2016. We have received the results of the survey and are delighted to report that across all categories we scored an average of 4.43 out of 5. In previous years we scored 3.77, 3.91, 4.17 and 4.41 respectively. Interestingly, the industry average is 4.23, thus our result puts us in the top quartile.
While we are proud of the continued improvement in our results, the survey also highlighted areas where there is the need for improvement. This year we had a much larger response than in previous years, having a 31.1% take up from our survey.
The one area in which we ranked below the national average was Financial Knowledge, where we scored 4.31 with the national average being 4.37.
You will be pleased to know that in addition to having completed a Masters of Financial Planning (distinction average), I have recently completed both the compulsory Ethics and FASEA exams. These exams however have content that has very little relevance to day to day financial planning matters, and now that my time is no longer taken up by these distracting exams, I can focus on the continuous learning programmes that are relevant to More4Life’s clients’ situations.
The most pleasing score that we received from you was for the Financial Review Process, where we scored 4.35 with the national average being 4.00. This score places us at the top of the first quartile benchmark. We are particularly pleased with this result as we understand financial planning is not a quick fix. It’s knowing that thousands of small changes make a real difference. By reviewing your financial and life plans and sticking to a sound strategy, we can work with you to achieve your financial goals now and more importantly into the future.
Another pleasing but not unexpected result was the high score for the Key Performance Area Standard of Support Staff – Jill, Nicky and Alison. We scored 4.59 out of a possible 5 with the national average being 4.39. Interesting that two thirds of all respondents rated our support staff a perfect 5.
Finally, our lowest scoring Key Performance Area was Range of Financial Services. We aim to have an approach of “sticking to our knitting” i.e. doing what we do well and have referral partners with complimentary skills to do what we cannot. By going to the referral partners on our website, you can see that we have relationships with Estate and Family Law Firms, Accounting Practises, Health & Fitness Consultants, relocation specialists and even IT Consultants.
Below is how you rated our performance in each of the nine key performance areas:
We have certainly learnt a great deal from all your responses, and hope that you will notice a difference as we complete the tasks we set for ourselves following the Survey Results.