Measuring Impact - How to evidence your value to your client

21 March 2023

Client ExperienceDataDemonstrating ValueInvestmentsMindful OfTechnologyWealthTech Matters

Expert: Ruta Pereira, KPMG Facilitator: Chris Shaw, Dundas Consulting


  1. Data can empower your RM, provide the RM with actionable insights, make it easier to support investment decisions as well as support automation of non-value-added tasks such as portfolio rebalancing, suitability letters, KYC etc
  2. Focus on getting the basics right - bad data in is bad data out
  3. You need to understand your own value to the client in order to be successful and in many firms, this may not be understood

Discussion Points:

It is very important to focus on the ‘so what’ of data. How does the data you are being given or the tool that you have implemented actually enhance the client experience or add value to your business? You need to understand your client journey and get actionable insights and link next best action and advice.

We need to shift to focusing on data as a product mind-set. You need to understand which tools for which tasks for which client.

How do you measure the impact? Some discussion about using VouchedFor to get under the skin of the client experience. This led to a discussion about whether referral rates are the best measure.

Some activity is seen as hygiene by the client it’s really about the quality of the advice and the relationship. On this basis should there be an exercise to break out the advice fee?

Key Takeaways:

  • Should Tech reduce the price to the client? Interesting discussion about whether the use of technology and the reduction in in person interactions should drive the price of working with an adviser/wealth manager down.
  • Some in the group believed it should whilst others argued that the service is enhanced not degraded and offering choice should not reduce cost.
  • Younger participants were asked if they felt they would pay less for an entirely virtual service having expressed this would be their preference and general consensus was that it should not drive down fees as the quality of advice is what is being paid for.