Adam Tucker

Another 32 financial advisers have been added to the Most Trusted Advisers Network (the Network), designed to serve as a referral source for consumers to advisers that other consumers profoundly trust, making a total of 64 advisers on the register and consumer-facing App.

Beddoes Institute, a data and benchmarking company that works across all major stakeholder groups in the financial services sector, launched the Network in August this year after analysing thousands of client ratings from a survey of over 150 advisers and identifying an objective benchmark of exceptional client service and performance – a Net Promoter Score (NPS®)[1] of 50 or more. Director of Beddoes Institute, Dr Adam Tucker, said members of the Network have an average NPS® of 72, which represents one of the highest results the company has seen.

“We are seeing phenomenal results from these advisers,” he said, “And their clients are gaining better outcomes than we have seen from other adviser relationships. The survey process is tough, and it is honest. Under a confidentiality agreement and with the consent of their clients, advisers have to hand over their whole client base to us for review.”

The 32 advisers join the first 32 invited into the Network in August, and have proven to be the best of the best in terms of keeping clients on track with their financial plan, having more satisfied clients, and having stronger relationships with clients than other advisers surveyed.

“Advisers in the Most Trusted Advisers network are assessed every 12-18 months and must re-qualify in order to continue to belong to the Network. They cannot pay to belong,” Mr Tucker said. “We have just had David Clark of Clark Pacific and Anne Graham of McPhail HLG Financial Planning re-qualify, so we know that the process is continually rewarding the advisers for their hard work and also keeping them accountable.”

Consumers can source an adviser in the Network via the free Most Trusted Advisers App. “The App enables consumers to find an adviser who has really happy clients. We have gone direct to the clients and they have provided us with honest and detailed feedback,” Dr Tucker said.

A full list of the new Most Trusted Advisers appears at Appendix 1. Advisers in the Network have a variety of different licensing arrangements. Appendix 2 reveals the number of Most Trusted Advisers to date from each licensee.

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[1] The NPS® is a powerful loyalty metric which has been linked to profitability and growth in a wide range of businesses. An NPS® higher than zero is regarded as ‘good’ while an NPS® of 50+ is regarded as excellent. Advisers must achieve an NPS® of 50 or more in order to qualify for membership of the Most Trusted Advisers network. Net Promoter, NPS, and Net Promoter Score are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld.

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