Client-centered services

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Service delivery and related activities that prioritize the needs and desires of the client above those of the advisor or firm that provides the services or activities.

“We place the client first” is a common tagline many wealth advisors and firms advertise with their prospects and clients. In operation, it can be difficult to verify specific actions taken that reflect a truly client-centered approach. It might mean the firm ignores its own cost or revenue considerations in serving clients, e.g., the firm is willing to accept a lower profit margin in order to provide needed services to their clients. It may indicate the firm is willing to provide solutions that may not always be in its own best business interest but is part of its ethical or fiduciary duty to the client. The degree to which these choices are made may be difficult to pin down. Ultimately, clients who feel well-served and attended-to without running into roadblocks of fees or service costs may believe their firm is “client centered.”

See Also: Client

McCullough, Tom. and Keith Whitaker, eds., “Seeking Sound Advice.” in Wealth of Wisdom: The Top 50 Questions Wealthy Families Ask. Wiley: 2019.


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Welcome to the Wealthesaurus*

A Glossary of Family Wealth Advising Terms

*pronounced: well-thuh-SAWR’-uhs

The Wealthesaurus provides standardized definitions of common and specialized family wealth advising industry terms. By sharing this glossary, we hope to improve communication across the UHNW community.

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