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LONDON: 26 SEPTEMBER 2012: A new global research study from the Financial Times and the Managing Partners’ Forum shows the relationship between clients and their advisers is changing, as clients become more demanding about quality and consistency of service and the price they are willing to pay. The report, published today at www.ft.com/clientadviser2012, highlights the importance for advisory firms in delivering the consistent service and commercial understanding demanded by clients in today’s business environment.
Entitled ‘Effective Client-Adviser Relationships 2012’, the report draws on insight from an online study completed by 569 respondents around the world: 36% are owners, and senior- or mid-level executives at client businesses; 64% of participants are management and fee-earners at advisory firms across four sectors: law, accounting,
property and consulting. The key findings of the report are as follows:
Caspar de Bono, managing director B2B at the Financial Times, said: “It is clear from the study that clients want advice in a commercial context, particularly in a more uncertain business environment. The FT offers a practical way to help advisory firms to stay informed of emerging commercial issues and the market context expected by clients.”
Sir Nigel Knowles, MPF Chair and joint CEO of law firm DLA Piper, commented: “Technical competence and the responsiveness of individual advisers are increasingly seen as hygiene factors: critical if absent but no longer as influential in selection. Creating a consistent client service and a culture of commerciality is next-to-impossible unless a firm is well-managed. And the only way to create the impression of being a well-managed firm is to become one, ideally through someone taking ownership and responsibility for delivering a more sophisticated and client centric approach to client-adviser relationships.”
The research report was produced by research consultancy Meridian West. The full report and supporting materials can be downloaded free at www.ft.com/clientadviser2012
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About the Financial Times:
The Financial Times, one of the world’s leading business news organisations, is recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation of almost 600,000 (Deloitte assured, 2 April 2012 – 1 July 2012) and a combined print and online average daily readership of 2.1 million people worldwide (PwC assured, May 2012). FT.com has more than 4.8 million registered users and over 300,000 paying digital subscribers. The newspaper has a global print circulation of 280,124 (ABC, August 2012).
About Managing Partners’ Forum:
The Managing Partners’ Forum is the pre-eminent professional body representing those entrusted with leadership and management roles at professional firms. MPF provides tailored knowledge, insights and resources to help its members become more effective. Find out more at www.mpfglobal.com