CSU: WHO Are We?

CSU: HKFS Client Service Unit

“Helping our FAs Help Your Clients”

FAST LettersCall Team

Email/Call Response Team

FINANCIAL ADVISOR SERVICE TEAM

Annual FAST Letter

Households under $200,000

Designated by FAs to be FAST clients

Customized Letter includes CPA name, FA name, current

allocation & Risk Tolerance Questionnaire

Reply Options: Box 1 or Box 2

THE FAST LETTER PROCESSCREATE MONTHLY LIST - KELLY

EMAIL LIST TO FAS FOR APPROVAL - ALICIA

PREPARE LETTERS - JULIEMAIL LETTERS –- BARB

LETTERS RETURNED “BOX 1” – “ALL OK”

SCAN TO PAPERLESS/SHREDEMAIL FA, IAR, JULIE & SO - BARBUPDATE IPS DATABASE -JULIE

LETTERS RETURNED TO BARB – LOG IN TO SPREADSHEET

LETTERS RETURNED “BOX 2” – NEEDS CHANGE AND/OR CONTACT

CALLS MADE, COMPLETED, NOTES MADE ON LETTER; RETURN LETTER TO BARB FOR PROCESSING

448 client letters mailed from the CSU team

100% received an additional service touch (448 clients)

17% responded to the letter (78 clients)

3% responded that they would like to be contacted (15 clients)

14% responded either that they were perfectly happy or left it blank / did not indicate contact was needed (63 clients)

Most of these happy clients had also returned their Risk Tolerance Questionnaires, and after reviewing, the CSU team determined contact was needed on 40% when the results were compared to the client’s current allocation. (25 clients)

Total = 9% of clients that received the letter had or will have a discussion with the CSU team. (40 clients)

FAST LETTER RESULTS

RESPONSES

Here’s what they’ve said:

3 clients adjusted their asset allocation.

1 client said she plans to open a new Roth IRA with us and make monthly deposits

14 clients decided their current allocations were satisfactory after speaking with an advisor.

Here’s what we’ve seen:

Letters were sent on 448 households totaling $36,031,418 in AUM

7 clients closed their accounts ($146k/7=$20k)

1 client closed his account and opened 4 new accounts for him and his wife (an increase of $131k)

HKFS Customer Service Standards

HKFS Customer Service Standards

HKFS Customer Service Standards

First-class service.  Every customer, every time. 

All Star Stories!

Future plans for the Client Service Unit

• Surveys:– Clients– CPA Affiliates– Employees

• Improving the ‘On-Boarding’ experience

• CRM & Monitoring improvements

• Thematic FA Support Calls

• Ideas from you?

CSU:HKFS Client

ServiceUnit