Anne Fuchs – Director – Pinnacle Practice

My Dealer Group and Tepana Financial Indices (TFI) are delighted to announce a partnership and the launch of a suite of three indices that provide licensees with quantitative analysis on how well advisers rate them.

The indices include:
1. Adviser Loyalty Index (Net Promoter Score (NPS) measuring loyalty and adviser retention)
2. Licensee SQI (Service Quality Index quantifying satisfaction and importance of various service elements together with reasons for any dissatisfaction)
3. Adviser API (Adviser Professionalism Index: Education and Training)

Together, the indices offer licensees critical quantitative measurement on how advisers rate them in relation to their competitors, their perceived strengths and weaknesses and their opportunities for business growth. 

“Since the launch of My Dealer Group by Pinnacle Practice a year ago, we have gained considerable insight into adviser satisfaction levels and into what factors differentiate better licensees from the pack,” says Pinnacle Practice Director, Anne Fuchs.

“The partnership with Tepana Financial Indices means we can quantify information and also offer NPS and SQI analysis to licensees.” 

The suite of indices is derived from The Adviser Satisfaction Survey, the market leader in measuring licensee service satisfaction levels developed by TFI in 2003. TFI analyses the factors that attract and retain quality advisers and drive loyalty.

“We believe this research is critical to the survival of licensees in a post-FoFA environment,” Ms Fuchs said. “Dealer groups benefit from this kind of analysis because they can see what advisers value and adjust their service offerings to meet the market.”

Principal of TFI, Kathleen Tepana, said an NPS diagnosis can be likened to a blood pressure analysis, and is an indicator of business health, while the service quality index reveals the underlying drivers of adviser satisfaction and reasons for likely growth so that a licensee can implement a plan to remain relevant and rectify any problem.

“The financial indices offer licensees two levels of raw data in the form of quantum analysis and dealer group scores, the latter of which is left to the licensee to interpret,” Ms Tepana said. “Above this is a more comprehensive service that interprets the data, offers insights into why licensees may be underperforming, and provides recommendations for strategic planning.”
 
The Net Promoter Score and Service Quality Index reports identify what matters to advisers, as well as what the dealer group is good at and how that differs from their key competitors.

“It is also a powerful quantitative adjunct to metrics, such as funds under advice per adviser, to measure and monitor the growth and ‘stickiness’ of adviser relationships,” Ms Tepana said.

“Those dealer groups with strong differentiated stories and offers that resonate with advisers and their clients are the ones that will survive and prosper now and in the future.”

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