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Reacting to research suggesting continuing client reluctance to fully re-engage in the market, DKN has initiated what it describes as a “client engagement” program that reinforces the value of strategic advice provided by a trusted financial expert.
The “client engagement” program has been confirmed by DKN chief executive Phil Butterworth, who pointed to the fact that while investor sentiment is improving and net flows have doubled from $300 million last financial year to a target of $550 million to $600 million this financial year, this remains well below the 2008 financial year figure of $1 billion.
He said this reinforced adviser feedback that many existing and new investors still lack the confidence to invest funds.
“Over the last six months there has been a switch out of cash and back into the markets, highlighting the fact that expert advice is crucial to ensure the strategic plan and investment strategy is in line with the client’s long-term goals,” Butterworth said.
“This is a perfect time for advisers to be actively engaging with their existing clients and also seeking out referrals through current and potential sources to drive new business,” he said.
Butterworth said DKN’s client engagement program included a number of tools such as brochures outlining the value and need for expert advice, a calendar outlining implementation of the program and ancillary materials such as letter and e-mail templates and website content.
The same resources are being provided to Lonsdale’s advisers, with Lonsdale chief executive Mario Modica saying wealth management practices had the choice of using the tools in their entirety or picking and choosing elements.
