Client Questionnaire Results: July 2014 – December 2014

Client questionnaire results (July 2014 – December 2014

At Trafford & Houghton Financial Planning we pride ourselves on our extremely high levels of customer service.

We consistently review our practices to establish whether any enhancements could be made to the way in which we deal with our customers. As part of this review we ask our clients for their feedback by sending out a questionnaire. The questionnaire is split into 3 sections as follows:

•    Service Delivery
•    The Adviser
•    Communications

Under each of these sections, we ask a series of statements/questions in relation to the service delivery, communications and advice received. For each statement/question, we ask our clients to score us as to how they feel each one was dealt with. The answers range from better than expected, as expected, below expected and not applicable.

In the last 6 months we have received 6 questionnaires back from 18 of our clients (33% received back) The results from these questionnaires are detailed below and are broken down into the three sections.

Section 1: Treating Customers Fairly- Service Delivery

We ask 7 questions relating to our service delivery, the questions/statements we ask are as follows:

1. The clarification and explanation of the service to be provided by the firm

2. The timely delivery of the service by the firm

3. The helpfulness of any representative of the firm who you dealt with

4. The way you were dealt with if you had to contact the firms offices for any reason

5. The accuracy of the information provided to you by the firm

6. The clarification and explanation of how the firm were to be paid

7. The way you were treated by the firm raising any queries relating to the service

Some of the results are as follows:

  • In relation to the clarification and explanation of the service, 50% of our clients thought we were “better than expected”.

  • 50% of our clients thought the helpfulness of their adviser/representative was “better than expected”.

Out of all 7 questions asked in relation to service delivery, the overall results are below:-

Treating Customers Fairly- Adviser

We ask 7 questions relating to our advice process and the adviser, the questions/statements we ask are as follows:

1. The process the adviser went through to gain an understanding of your financial objectives

2. The establishment, explanation and consideration of your attitude to risk

3. The explanation the adviser gave to you on how the product/advice was to work

4. The interaction of your adviser with other professionals (e.g. solicitor, accountant)

5. The provision of objective and suitable advice for your needs

6. The ability of the adviser to put you at ease and not make you feel like you were any under any undue pressure to commit

7. The timing and delivery of the review by the adviser

Some of the results are as follows:

  • In relation to our advice process 66% of our clients thought our understanding of their financial objectives was “better than expected” and 33% thought it was “as expected”.

  • 33% of clients thought their adviser’s explanation of how the product/advice works was “better than expected” and 66% rated their adviser “as expected”.

  • We asked our clients whether they thought their adviser gave suitable advice for their needs and 50% of clients thought the advice received was “better than expected”, 50% of clients thought the advice received was “as expected”

  • We do not put any pressure on clients to commit and 66% of clients thought that we were “better than expected” at putting them at ease.

  • 50% of clients asked thought that their adviser was “better than expected” on the timing and delivery of reviews.

Out of all 7 questions asked in relation to our advice, the overall results are below:-

Treating Customers Fairly- Communications

We ask 6 questions relating to communications received, the questions/statements we ask are as follows:

1. The clarity of any letters, brochures and any other documentation provided to you

2. The timing and arrangements made to conduct a review with you

3. The frequency of communications you receive from the firm

4. The relevance of any communications sent to you by the firm

5. The way you were treated by the firm when raising any queries on communication

6. The overall standard of communications received from the firm

Out of all 6 questions asked in relation to communications, the overall results are below:

As you can see from the results, 39% of the clients who completed the questionnaire thought that the communication received from us was “better than expected” and 61% said it was “as expected”

Overall results

Overall based on all questions asked under all three sections, 42% of clients who completed the questionnaire rated the service received from Trafford & Houghton as being “better than expected” A further 55% of clients thought the service received was “as expected” The remaining 3% either did not answer certain questions or the questions were not applicable to them.


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