Continuing our case study from last time, when we had just received a negative review of an adviser on our site...
Simultaneously, the adviser was automatically notified (via email) that he’d received a negative review and contacted us with a message that included the following:
Hi adviser ratings team.
I would like to challenge this review.
My role as an adviser is to provide clients advice that I believe is in their best interests. XXXXX wanted advice on strategies that I didn’t believe he had the risk capacity to take. I discussed this in the advice document explaining that goals could be achieved without exposing themselves to this unnecessary risk.
I believe they were after confirmation of a strategy and as they had their adviser say no, they didn’t like the advice. What good is the advice if it simply advocates a client’s view when that view is misguided or in the eyes of an independent adviser wrong? I believe I’ve done the right thing not being a yes man.
As far as the modelling goes, yes our initial numbers were calculated incorrectly, this was swiftly corrected.
XXXXX challenged the advice as not being "creative". As far as I’m concerned I delivered on our promise which was to provide options as to what is and is not possible, gave answers to some complicated questions and provided them with a roadmap to achieving the goals they set. We kept the plan simple so that it could be executed. I believe there’s a mismatch in personality types…
If our advice had been conflicted, our service truly awful or our fees overpriced, these are legitimate remarks I’d accept, but this is simply an ex client sharing half the story.
Adviser Ratings had a short correspondence and a phone call with the adviser regarding the negative review, where our customer support staff emphasised that this type of review may occur from time to time, and is in the nature of ratings and review sites.
We made the point that the customers review was simply his take on what happened, it was genuine, and it was remaining on the site. Using the advisers impassioned letter to us as an example, we suggested that the adviser make similar points in a reply – as it seemed the adviser’s point of view was (although different) equally legitimate to that of the reviewer. Our only tip was that in light of the difference of opinions, being magnanimous rather than disparaging would come across better to someone reading this exchange on our site.
In our final installment - Part 3 we will take a look at what the Adviser posted in reply on our site, and the outcome.