The Verus Team

When it comes to your money, are you a Client or a Customer?

Written by: Derek Majkowski. Any opinions are those of Derek Majkowski and not necessarily those of RJFS or Raymond James.

A client wants personal attention.

A customer needs a transaction fulfilled.

A client wants to be engaged in the process and feel they are being heard.

A customer needs a product or service, and requires very little personal interaction.

A client engagement is long and evolving.

A customer engagement is short and efficient.

A client requires customization.

A customer accepts processing and procedure.

A client goes by a name.

A customer goes by a number.

There are a lot of institutions and advisors that are available and accessible to assisting you with your money, investments and financial planning needs. 

In each case it’s important to determine if you want to be a customer or a client.  In some cases being a customer is just fine, in others, it requires a deeper engagement. 

When you are working with an institution that is primarily engaged in transactional activity with customers, like a bank or big institution, can you ever really be a client too?  

Big organizations are conditioned on models, procedures, and systems, to quickly deliver efficient transactions.  People merely facilitate that process, and are usually muted when it comes to ingenuity or creativity. 

Structurally, these organizations are built to best serve customers not clients. 

When it comes to your investments and financial planning, one should seek to be a respected and engaged client.  Planning for financial needs and goals is personal, and you owe it yourself to seek the right arrangement when it comes to something that requires more attention than what a quick modeled product or plan can provide.

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