Client Journey & Experience

CLIENT JOURNEY & EXPERIENCE

Available Categories for 2019 are: 

1. Client Stewardship

It is a bank’s utmost responsibility to safeguard a client’s assets above and beyond performance optimization. The “Client Stewardship” category aims to identify high quality providers who offer the best practices and value in stewardship principles and how it discharges its responsibilities. The entrants will be prepared to answer questions pertaining to the governance structure to avoid potential conflict of interests; due diligence on products introduced to clients; transparency by disclosing hidden and headline fees; disclosure on transactions with a related company; the culture of putting the clients’ interests before revenues; and remuneration that is not purely tied to revenue targets.

2. Client Support

The “Client Support” category aims to identify high quality providers who offer the best strategies and practices on after-care, ease of contacting a client service desk, availability of digital tools and ease of usage, supporting clients regardless of situation, assisting the client through administrative processes and ensuring that they understand each stage completely, and, more importantly, keeping promises. The entrants will be prepared to answer questions pertaining to service level and commitment, their advocacy scores, the way and channels they engage with the clients, and the alignment between bankers and the clients being served.

3. Advisory Service

The “Advisory Services” category aims to identify high quality providers who have models and practices to promote transparency, reporting, accountability, research, and advice delivery. The entrants will be prepared to answer questions pertaining to product alignment and satisfaction; ensuring that clients fully understand the risks and commitment before making a purchase, and that the banker fully understands the client’s long-term goals; initial and ongoing suitability implementation; providing proactive advice and offering documentation that is easy to read and understand; and ensuring the bankers are fully qualified and trained to deliver the most appropriate advice to empower the client’s decision-making process.