We Are Only As Good As Our Word
We Are Only As Good As Our Word
I recently have had 2 experiences with large corporations that show in graphic terms how they view their customers.
The first was with Southwest Airlines. I have accumulated many miles with this carrier but have not traveled lately using them. After a recent trip with them I checked my account and saw only the recent miles were credited. When I enquired what was going on with my account I was told that since I had not flown with them in 24 months I lost the miles and there was no way to get them back.
I wrote back to the head of customer service saying I understood their policy but since my recent flight was 24 months and 2 DAYS since my last flight it might be nice for them to reinstate my miles. Later that same day I got an e mail from Southwest Airlines saying they would reinstate my miles. They did not have to reinstate the miles but they did. I assume their decision was because they realized I am a good customer and the spirit of their commitment is what matters.
The other experience is with a well know window manufacturer. I have had numerous problems with a window and come to find out the “lifetime warrantee” is only good for the original purchaser. Either a warrantee is lifetime or not, particularly for a product that is built in. If they do not want to guarantee their product I understand that decision but it is disingenuous at best to claim they have a lifetime warrantee. Why should someone selling their house void a warrantee?
How does this impact us as financial professionals? When we make a commitment to work with a client we need to honor that commitment, no matter the issue. When a client calls they cannot be avoided. Part of the reason a client decided to do business with you was because they trusted you to help them. That trust cannot be abandoned when it is no longer convenient. All clients do not deserve the same level of service but all clients who are paying for service need to get service. If you are not willing or able to give them service suggest an alternative for them – perhaps a junior advisor in the same firm or an advisor with a personality that better suits them.
It has been said the only thing we have in this business is our word. If we lose that, we have lost our ability to do a good job.