Listening to you: what we learned from our latest Client Survey

This article was first published in our Direct Investor Magazine on 3 August.

We asked you what you thought of our communications, range of products and services, website, app, customer service, and your overall satisfaction with us. Although it is no small job to create and send the survey, this pales in comparison to the task we then have in reading the comments and assembling the findings. There is much that we are getting right, but there are also areas where you have indicated we can do better. Not least of which is survey design, as highlighted by a beautifully paradoxical response – a zero score paired with a vote of confidence:

And to those who may think "these surveys are a waste of time", your comments do not disappear into the ether. They are read, noted and occasionally thoroughly enjoyed. If nothing else, a review of the results demonstrates that we serve a wonderfully diverse – and often contrasting – set of opinions. Take the Direct Investor magazine which you are currently reading: “I like the magazine - interesting and educational articles” (thank you on behalf of the team) vs “paper magazine [is] pointless”. This is proof, if it were needed, that one person’s idea of a good read is another’s recycling. Which leads me directly on to…

Communications

You want our communications to be simple to understand. This can be a challenge when the subject matter is anything but – try explaining US withholding tax simply, for example – but mostly, you think we do this well. Our communications are usually seen as “easy to read and understand”, but a few of you reminded us that “occasionally there is too much jargon”. And sometimes this works in reverse and you have us reaching for a dictionary. I stand in admiration of one client who, when unable to login, reported that he was experiencing a circulus inextricabilis.*

Products and services

When it comes to our account range of ISAs, Junior ISAs, General Investment Accounts, SIPPs and Cash Savings Accounts, your feedback has been reassuring. A few of you specifically mentioned our Flexible ISAs in very kind terms.

In terms of services, your views were strongly held, wide-ranging and varied. On occasion, we were asked to consider providing services that we already offer, like trading on the app, financial guidance which we deliver through our Financial Coaching service, or access to overseas markets, suggesting that there may be more for us to do in making these easier to find or understand. Other requests were for services that we are unable to offer due to regulatory complexities, like cryptocurrencies and structured products. Alongside this, you shared a variety of ideas, ranging from improvements to search functionality, portfolio tools and more specialist trading features. Thank you. This is a valuable insight to work from.

Website and app

Your feedback here is another example of your wide-ranging opinions. By and large, the website works well for the majority of you. You’ve told us that it’s “straightforward” as well as “uncluttered and simple to use”. But while its dependability is valued, others of you have told us, with varying degrees of directness, that it could be improved. We hear you. Watch this space.

We have been working hard on our app in recent years. However, the survey results tell us that there are some of you who "don't use apps". Any apps. So here is a challenge if you are one of them – download it. You might be pleasantly surprised. We have, in recent months, changed the navigation following earlier feedback and added “Insights”, alongside making international share dealing possible. Still, we have further to go. Thank you to those of you who provided us with feedback. We are going through it line by line.

Client satisfaction

Most of you score us highly, seeing us as a “trustworthy company” you are comfortable to invest with. Being reliable is an important principle for us when we're looking after your money, so we were pleased to see this rated highly.

We aim to provide value through the quality of our service, our dependability and the breadth of our offering. Broadly, you think that we do this, with one observant client noting that “calculating fees at client level, rather than account level, is good and a differentiator between you and your competitors”. But it is fair to say that value, like beauty, is in the eye of the beholder. Some clients – spreadsheets to hand – make it clear to us that they prioritise cost above all else, while others are inclined to look holistically at our service. This serves as a good reminder to us of the importance of continuing to deliver ‘value’ to you, regardless of how you define it.

Customer service

Our aim is to ensure that, if you need to contact us, you will get a prompt, courteous, informed and human response. Although we may not get each interaction right every time, your comments were overwhelmingly positive, like those from our lovely client who wrote:

Even better is that you seem to understand us. While we were praised for how easy it is to speak to someone, one client even complimented us on our “clear-spoken English” – which may come as a nice surprise to our Helpdesk colleagues who are based up in Edinburgh. 

Once again, thank you to those who took the time to share their feedback and for highlighting what we do well and where we can do better. We are genuinely listening. Please keep it coming and, should you ever find yourself in a circulus inextricabilis, rest assured that we are here to help.

*vicious circle