The ROI of excellent client experience in asset management.

There is a new level of competition in the finance space. The result? Products and rates are no longer the sole differentiators. Customers are increasingly seeking experiences that not only meet their needs but make them feel valued and understood. 

The question isn’t what are you offering, but how are you offering it? And is it memorable enough to keep them coming back?

The experience economy: Lessons from luxury dealerships

Take a cue from Sewell Automotive Companies, where the luxury experience is baked into their overall DNA. If there’s ever a lesson in adding experience to a bland industry, Sewell is capitalizing on it. Customers are greeted with intentionality, by name, courtesy title, and with unwavering professionalism. 

Amenities, from upgraded rentals to complimentary car washes, aren’t just services; they’re signals—signals that say, “You matter.” This approach has translated into loyal customers and a market-leading revenue stream. The Sewell model proves a fundamental truth: people will pay for (and remain loyal to) brands that make them feel special.

So, why don’t we see this level of intentionality in asset management?

Finance is leaving opportunity on the table

For too long, financial institutions have been transactional, and technology has only deepened this stigma. The focus has been on efficient processes and streamlining through advancements (take mobile apps and ATMs as an example). This elevation of technology is often at the expense of personalized experiences. No one is arguing these innovations are undeniably important, but they can’t replace the emotional connection forged through exceptional service.

Imagine an asset management experience that mirrors Sewell's intentional luxury. What if your clients walked into an office or opened an app and felt not just serviced but celebrated? What if advising wasn’t only about managing money but about curating an experience that makes clients feel affluent, regardless of their balance?

What experience-driven asset management could look like

Let’s set the stage for a moment—where we marry the technical structure of a transactional industry with the personalization of a concierge experience. 

Personalized service

Borrow from Sewell’s playbook. Train your team to greet clients with courtesy titles (Mr., Mrs., Ms.) and familiarize themselves with client preferences. This isn’t about superficial charm; it’s about creating a sense of respect and importance. Even the small things we can overlook, like informing them of special offers or helping them get their app set up, can mean a great deal. 

Exclusive perks

Consider extending “experience” beyond transactions. Complimentary financial reviews, check-in calls, or even surprise thank-you notes can leave lasting impressions. 

For high-net-worth clients, offer exclusive perks like access to specialized investment opportunities, dedicated wealth advisors, or invitations to private financial seminars and events. Depending on your structure, these are low-hanging fruits that are ripe for picking, meaning they cost you very little but yield a huge return.

Enhanced environment

Physical locations may be diminishing, but for those that remain, they should feel inviting and premium. Think lounge-like atmospheres, tech-enabled spaces, and staff who exude professionalism. Even digital platforms can embrace this ethos with simple, elegant interfaces that make every click seamless and satisfying.

Memorable interactions

Small gestures can have big impacts. A follow-up call after a portfolio review or a thoughtful gesture to celebrate a client’s business expansion or personal milestone can transform a transactional relationship into a deeply personal connection.

Empathy at the core

Every experience should convey, “We’re on your side.” Firms often miss opportunities to meet clients with empathy during tough times. Imagine offering personalized solutions during life changes like the loss of a loved one, a career shift, the birth of a baby, or retirement.

Experience drives loyalty and profitability

Customers don’t just choose firms for their rates; they choose them for how they make them feel. The luxury of experience creates stickiness, a concept financial executives should take to heart. A customer who feels valued will not only stay, they’ll refer others, and in the world of finance, word of mouth is priceless.

Consider Michael’s story. Michael, a successful entrepreneur in his early 40s, initially partnered with a firm focused solely on low-cost index investing. While the returns were reasonable, the experience felt cold and transactional. Quarterly statements were impersonal, communication was limited to automated emails, and there was little attention paid to his long-term goals or his growing family’s needs.

After two years of feeling like just another account number, Michael transitioned to a boutique asset management firm emphasizing personalized service.

His new advisor scheduled quarterly face-to-face meetings (with options for video if Michael was traveling) to discuss his financial goals and proactively suggested strategies to minimize tax exposure on his growing investments. Michael’s children were introduced to basic financial literacy workshops hosted by the firm, preparing them to inherit and manage family wealth. The firm even surprised Michael with a handwritten note and a custom report after his company achieved Series B, celebrating his achievement.

The result? Michael not only consolidated his assets with this firm, but he also referred three fellow entrepreneurs to their services. What began as a single-client relationship has grown into a multimillion-dollar portfolio for the firm—all because of an emphasis on experience.

Setting your institution apart

By leaning into the experience economy, financial institutions can position themselves as more than just advisors; they become trusted partners in their clients’ lives. And as our customer story proves, that kind of relationship is not just profitable; it’s transformative. When customers start associating your brand with financial expertise and unparalleled service, trust, and reliability, you add more than revenue to the bottom line; you add prestige to your name.

So, finance leaders, it’s time to ask yourself: Are you just selling services, or are you selling experiences? The answer could redefine your institution’s future.

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