This report delivers recent statistics that tell how clients of Raymond James (a.k.a. “RayJay”) think and feel about how well they are being served by RayJay advisors. Credo’s annual statistics are presented in the two tables below. With 2018 only part-way complete, the statistics provided for 2018 are current projections for the year based on…
In a crowded marketplace, where advisors have a tremendous range of suppliers to choose from, a supplier’s credibility is absolutely central to its clients’ willingness to support it. Credibility is based on truthfulness and dependability. When investment managers deliver on these dimensions, they can often maintain their place on an advisor’s product shelf. When they…
Credo has explored how advisors charge their clients for financial planning services. We surveyed 500 advisors from across the country and found that the majority of Canadian advisors (60%) don’t charge their clients specifically for the service of creating a financial plan. Exhibit 1 below show how advisors responded when queried about charging for planning….
What is the range of services advisors offer their clients? We call this the advice service spectrum and an individual financial advisor’s service spectrum defines them, in some respect. It creates the experiential expectations of their clients. In other words, it creates their brand in the minds of their clients. Credo surveyed 500 advisors from…
The Financial Post published an article on 27 August 2018 authored by Jason Heath titled, “Relying on proprietary products not necessarily a bad thing for advisors.” This article referred to research Credo has published. Specifically, it points to an article which explains: Credo has found that financial advisors tend to use the products that are produced…
We used to have a little restaurant down the street from our house. It was called Pepino’s. It was at the corner of Ford Drive and Royal Windsor in Oakville. They made the best escargot. Period. “How do you know it was the best escargot, Hugh,” you may ask. Well, escargot is one of my things. Wherever I…
You have to work hard manage your brand if you don’t want other people managing it for you. (And trust me, there are plenty of us out here doing our best to manage it for you… either for your benefit or for someone else’s.) Your brand is the product of the set of experiential expectations…
Quality is one of the principal drivers of Canadian financial advisors being willing to put (and keep) a product supplier on their product shelf. In fact, overall perceptions of quality are a very strong driver of what we call the advisor’s Willingness to Support (W2S) a supplier. We’ve learned, from extensive research, that perceptions of overall…
Credo is conducting a study to uncover the causes of the difference between the trajectories of Mackenzie and Manulife in the minds of Canada’s financial advisors. We are inviting members of the financial community to offer their qualitative perspective about these two financial product suppliers. Some of the quantitative data (representative survey-based data) related to…
Q. Where does literacy end… and financial literacy begin? A. It doesn’t matter; efforts to drive either also drive wealth development potential… so educate people… people! Education and Wealth Are Related. Here’s Proof Let’s start with this. Education is a driver of wealth, in case anyone forgot to mention it. If you need some proof,…