For wealth managers, gaining the trust of clients is critical to success. But what’s the best way of building it and, once you’ve got it, how can you keep it? We spoke to an award-winning wealth manager, Mark MacSymon, from multi-award-winning firm, Private Client Holdings (PCH), to find out.
When we meet Mark MacSymon, he reminds us of a famous quote by Warren Buffet: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
It’s perfectly put. It’s not just about making one good decision but rather compounding one on top of another.
Mark has been part of PCH for eight years, it’s a firm with an almost 30-year history. Its strategy for managing family wealth is comprehensive and integrated in approach, offering many services under one roof, it’s also one which has been recognised with multiple industry awards. Just last year, Mark himself was named Financial Planner of the Year by the Financial Planning Institute of South Africa. So, what’s the secret to PCH's success?
Trust is built over time. Making good decisions one on top of another.
Winning awards builds great credibility. How has it benefited the business?
Our existing clients have gained further confidence in us and it’s only natural that people want to be associated with success, so it has helped us to attract new clients too. Above all it is a testament to our company that we are consistently finding the best solutions for our clients.
Awards aside, Mark believes the key to winning the trust of clients is by building solid relationships, much of which is down to regular client contact and keeping the human connection.
We are able to be more responsive to our clients’ needs by using the right technology.
Reassurance is an important value for PCH and is key in helping clients make important decisions.
Agility, technology and trust go hand in hand and enable PCH to build strong relationships. But what else would Mark say is part of PCH's winning formula?
"The key to success and creating and keeping trust is to listen to clients very carefully."
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