The Beddoes Institute has launched the Most Trusted Adviser network, which it says will serve as a referral source for customers to find advisers whom other customers “profoundly trust”.
Speaking at the launch yesterday, Beddoes Institute director Adam Tucker said network membership is by invitation only and is based solely on how participating advisers have been ranked by their clients.
“The advisers we surveyed include the very best of the best from corporate partner advisory networks as well as those advisers who have, over the past three years, been finalists and winners of the AFA Adviser of the Year Award,” Mr Tucker said.
“Most Trusted Advisers deliver significantly better outcomes to their clients,” he said. “Their clients believe they are more on track with their financial plan and are financially better off as a result of working with their adviser compared to clients of other financial advisers.”
Mr Tucker explained that in order for an adviser to be included in the network, they have to meet a benchmark Net Promoter Score (NPS) of 50 or more.
“The NPS is a powerful loyalty metric which has been linked to profitability and growth in a wide range of businesses,” he said.
“An NPS higher than zero is regarded as ‘good’ while an NPS of 50 plus is regarded as 'excellent'.
“We were also very pleased to discover that the advisers currently included on the Most Trusted Advisers network hail from different segments of the industry, including both institutional and non-institutionally aligned licensee groups,” Mr Tucker said.
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