n a recent study performed by CEG Worldwide and published by the American Institute of Certified Public Accountants PFP Planner Jul/Aug 2004, we are told that advisors can gain major competitive advantage by offering a level of service that far exceeds "customer satisfaction."

As clients of one or more advisors, how satisfied have you been on a personal basis. Review the following questions and circle . Feel free to forward them to me anonymously, if you wish.

1. The Competence Factor.

Are your dealings kept confidential? Agree / Disagree

Does your advisor have decent money management expertise? Agree / Disagree

Is your advisor completely knowledgeable in investments, or is she/he following a script? Agree / Disagree

Is your advisor reliable (at least returns phone calls on a timely basis, etc.)? Agree / Disagree

Is your advisor a perfectionist? Agree / Disagree

Does your advisor want to know about your complaints? Agree / Disagree

Does your advisor communicate on a regular basis about problems and find solutions for you? Agree / Disagree

Is your advisor responsive? Agree / Disagree

Is your advisor too warm, (i.e. phoniness & insincerity)? Agree / Disagree

Does he/she provide timely information? Agree / Disagree

Does he/she give you regular briefings? Agree / Disagree

Is he/she patient while explaining issues? Agree / Disagree

Does he / she listen carefully and well to your issues? Agree / Disagree

Does he/ she understand your specific needs? Agree / Disagree

Does he / she define those needs correctly? Agree / Disagree

Does he / she provide alternative solutions? Agree / Disagree

Score yourself. More than 6 or 7 disagrees, you have a problem. Ten or more, you know what you have to do.

And what did thousands of US clients indicate based upon this survey?

1. Clients expected all advisors to be serious competent professionals, and rated them highly in this area (if they were) even when they were dissatisfied overall. Thus, clients assume that their advisors are competent ? but that alone is not enough for satisfaction.. Clients place a premium on hustle, also known as going the extra mile. The No-Surprises factor, this is the area where dissatisfied clients unanimously downgraded their advisors, and only 38 percent of even the satisfied customers gave their advisors good ratings. There is a real lack of communication and investor education here. The warmth factor. Responsiveness and genuine caring are important contributors. These are behaviours beyond manners and politeness. First-to-Know. Clients want to be kept informed, even about mistakes. Unhappy clients really down graded advisors on this point, they hated being told by an ex-employee or a competitor, something that their advisor should have told them. Active listening. Client want advisors to listen to them, not tell them what they should have and what they should do. Clients want their input into their financial situation. Client-Centred Focus. Clients want you to understand their individual needs; they are not interested in the cookie cutter approach. The advisor ability to convey to each client that they are important and that you are striving to provide individualised financial solutions is key to client satisfaction.

There you have it ? seems like just so much common sense, yet in these polls of thousands of clients, poor advisors receive less than 50 percent ratings in every single category, with some categories as low as 12 percent. The worst score was for, you guessed it, defining and understanding the client's needs.

For all finance professionals, this is cause for serious thought as well as considering upgrading our professional performance.