Article

Delivering for our clients

We are extremely pleased that this year’s private client survey yielded another set of incredible results.

| 5 min read

At Charles Stanley, we are focused on providing our clients with the best client experience possible. In order to assess the effectiveness of our client experiences, we invited a cross-section of 55,312 of our private clients to provide feedback on their experience with us through our Client Satisfaction and Experience Survey. Feedback from this survey is extremely important to us and helps us to continue to raise the standards of our business and ensure we deliver an enhanced service to all of our clients.

3,873 responded, representing a 7% response rate. As a thank you to all our clients who responded, we donated £4,000 to our 2021 Charity of the Year, Open Palm.

The key highlights from are:

  • 89% of our clients who responded to our survey are satisfied with Charles Stanley overall,
  • 95% are satisfied with their Financial Planner and 94% are satisfied with their Investment Manager

When looking at our different services in more detail it is important for us to understand what our clients’ value about our services.

Focusing on our Financial Planning and Wealth Management clients

The likelihood that a client will recommend us is a great indicator of how much they value our service. Our business grows through referrals and we’re proud that so many of our clients are likely to recommend us to family members, friends, colleagues, clients or associates who might benefit from using our services.

The calculation of a net promoter score (NPS) comes from asking the question “On a scale of 0 – 10, how likely would you be to recommend Charles Stanley to a family or friend” – those that score 10 or 9 are classified as promoters and those that score less than 7 are classified as detractors. NPS = promoters% - detractors%, thus meaning the score can be anything between -100% and 100%.

Key results to note from our Wealth Management clients are:

  • 93% of our clients who responded to our survey are satisfied with their primary Financial Planner,
  • 94% of our clients who responded to our survey agree that the range of products and services from Charles Stanley are meeting their individual needs and goals

Focusing on our Discretionary Managed clients

Providing financial peace of mind is at the core of what we do, and therefore the relationship and trust our clients built up with their Investment Manager is extremely important.

Key results to note from our Discretionary clients are:

  • 95% of our clients who responded to our survey are satisfied with the level of personalised contact they receive from their Investment Manager,
  • 96% of our clients who responded to our survey are happy that the range of products and services from Charles Stanley are meeting their individual needs and goals

Focusing on our Charles Stanley Direct clients

Despite being a DIY online investing service, the helpdesk provides invaluable support to our clients when they need someone to speak to about their issues. The team in Edinburgh provides a helping hand to our Charles Stanley Direct clients, from resetting passwords to providing guidance with complex transfers.

Key results to note from our Charles Stanley Direct clients are:

  • 92% of our clients who responded to our survey are satisfied with the security of the Charles Stanley Direct service,
  • 87% of our clients who responded to our survey are satisfied with the reliability of the Charles Stanley Direct service.

Focusing on our Charles Stanley Investment Choices clients

We don’t just analyse the scores our clients provide, we also take the time to look through the individual comments that clients leave. This feedback enables us to continually enhance the service we provide.

Whilst our Charles Stanley Investment Choices Client Relationship Managers are not able to provide advice or a personal recommendation, they are able to provide information, help and guidance to support clients in making their own investment decisions.

Key results to note from our Charles Stanley Investment Choices clients are:

  • 85% of our clients who responded to our survey are satisfied with their primary contact (Relationship Manager),
  • 80% of our clients who responded to our survey are satisfied with the range of products and services.

Our results also provide guidance on areas for improvement, and the results of this survey are influential in shaping the services and experiences that we provide our clients in the future. This year we are focusing on providing a more diversified range of conveniently packaged client services that are more inclusive and meet a range of different circumstances and needs at every life stage. In addition to this, we want to work closely with our clients to help educate them on their financial affairs and portfolios, as well Environmental, Social and Governance (ESG) investing, which is increasingly an area of interest to our clients.

Nothing on this website should be construed as personal advice based on your circumstances. No news or research item is a personal recommendation to deal.

Delivering for our clients

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Article
Delivering for our clients
By Charles Stanley
18 Jun 2021 | 5 min read