How Client Feedback Can Help Grow Your Practice

If you search the internet for ways to grow your financial advisory practice, there’s no shortage of results. There are numerous lists and articles to guide the way, and many of them say the same thing. Asking for reviews or testimonials is common, which is great for marketing to potential clients. What it doesn’t do is draw in additional business from your existing clients. Focus your attention on those who aren’t taking full advantage of your services. Requesting feedback from those clients can help you reevaluate how you work.


It’s common to receive some type of customer feedback survey when you interact with a business. Businesses use that survey data to identify issues and to understand people’s attitudes toward their business. From there it’s used to inform any changes the company may make. You can employ similar methods for your financial advisory practice. While you can send out email surveys requesting feedback during your check-ins will result in higher quality responses. 


The responses you get from your feedback sessions will only be as good as the questions you ask. In order to set the tone for the session, save your feedback questions for the latter part of your check-in. This way you can use that conversation as a stepping stone to request feedback. Start by letting your client know that you want to get some feedback from them. Once they consent, ask the applicable questions. It’s okay to be a bit generic, but don’t ask if they’re happy and call it done. The point of having a feedback session is to get information that will help you improve and grow your business. If you’re unsure of what to ask, try the following questions.


  • What do you like about the service you receive here?
  • Is there anything you dislike about the service you receive here, if so why?
  • Would you recommend my services to a friend who’s looking for a financial advisor?
  • Is there anything you would change about the service you receive here?


These are simple questions, and you can adjust them to suit your particular practice. What’s important is that the combined responses from all of your clients give you a clear picture of where you can improve. You’ll often find that the issues are small and easy to correct. For example: Multiple clients say it takes too long to get follow up when they contact your office. That’s pretty easy to fix, and will leave your clients happier. Happy clients can be an excellent source of additional business and referrals. 

For more ways to grow your business download our free checklist 10 Things To Grow A Financial Advisor Practice.