On my latest podcast, Sterling Shea and I had a fascinating riff on this idea of hospitality as differentiated from simply providing “excellent service.”
As a financial advisor, we can do everything right. We can put a technically accurate plan together. We can create a historically tested asset allocation plan. We can answer the phone within the first or second ring and return phone calls within the same day. We can efficiently handle clients’ inquires. We can do all those mechanical things just right. And that’s good and we have to, it’s table stakes. But what really separates the best advisors is not how you do it, it’s how you make the client feel while doing it.
As part of this Podcast both Sterling and Steve recommended Daniel Crosby's latest book, "The Behavioral Investor".