Wealth Professional | Canadians no longer loyal to financial service providers
Canadians have traditionally been loyal when it comes to financial services – sticking with a bank or advisor for years regardless of service quality. But increasing expectations for better customer focus and loyalty rewards have put the majority of customers in play, with 61% saying they would switch financial service providers. The good news, the rewards clients are seeking don’t have to cost you a cent.
“The rewards don’t always have to be monetary, and we find that the most powerful rewards are not monetary,” Paul Battista, partner and Canadian Financial Services Advisory Leader for Ernst & Young, told Wealth Professional. “They can simply be recognition, meaningful and relavent recognition of the relationship that has been built or developed with a particular advisor.”