Advisors’ Trust in Their Suppliers
The relationship between Trust and Support? It’s clear and strong.
Credo’s research with advisors explores the degree to which advisors trust the suppliers they keep on their product shelves. Our analysis shows the clear, strong relationship between an advisor’s trust and their willingness to support a company. There’s a positive correlation of 0.81 between the dimensions revealed in this analysis.
The moral of this story?
As a manufacturer, deliver experiences that contribute to trust and eliminate those that compromise it. Continually audit the experiences you are delivering because a failure to measure is a failure to manage; people only respect what you inspect. If you’re not inspecting the experiences you’re delivering, you can be sure that the people who were charged with producing and delivering those experiences are not delivering them just the way you want them delivered. There is always room for improvement and for adjustment that will keep you on track.
As an advisor… recognize that there is a broad range of companies that are trusted by the advice community. If you trust your suppliers, great. But if you’ve got your doubts, CredoConnect can help. It’s a Credo service that brings advisors together with other advisors for discussions about the industry challenges they face and about the ways their suppliers support their efforts to address these issues. Advisors are at least as susceptible as manufacturers to the issue of delivering experiences that compromise (rather than contribute to) the value of their brand.
This video offers perspective on the companies are currently most trusted by the Canadian advice community.