Since the early days of Pinnacle, our client base has steadily grown, mainly by word of mouth. Client advocacy and referrals have consistently supported our expansion.
Over the years Pinnacle have conducted various independent client surveys to track and benchmark against other financial planning practices. The surveys aim to measure customer experience and satisfaction, together with performance and customer expectations.
Since Pinnacle’s first survey in 2012* of 200 financial planning practices, Pinnacle have surpassed all industry benchmarks with an overall ‘outstanding’ rating. Of the 450 Pinnacle clients who were asked to participate, an astonishing 144 (32%) responded. This high response rate, in itself, testifies to the extraordinary client loyalty Pinnacle Wealth Management enjoys as one of Australia’s top financial planners. Here are some of the most significant findings:
56% of Pinnacle clients rated their satisfaction with the financial plan recommended by their Financial Advisor at ‘9′ or ’10’ out of 10 versus 37% for the industry standard.
In response to the question ‘How well did your financial practice respond to the GFC?’, an additional 14% of clients felt that Pinnacle had responded ‘ver well or exceptionally well’ compared to industry standard.
Pinnacle Financial Advisors were rated ‘outstanding’ for ‘understanding clients’ needs’, ‘keeping clients informed’ and ‘giving clients confidence.’
The vast majority of Pinnacle clients (70%) rated Pinnacle ‘9’ or ‘10’ out of 10 for overall satisfaction compared with the industry standard of 49%. With such outstanding results, it was to be expected that client advocacy would be high. In fact, almost 40% of Pinnacle respondents had actively sponsored the practice to family, friends and colleagues, with almost all (94%) being willing to do so in future.
In the most recent, independent survey, 2022** it was noted that Pinnacle demonstrated strong performance and distinctive cultural differences when compared to other similiar and medium-sized practices. The findings concluded that Pinnacle possesses a unique ‘organised’ attribute, ranking in the top 5% across various critical benchmark indicators among a diverse range of participating practices. Overall satisfaction and advocacy remain outstanding, underscoring our continued success in these areas.
Overall Satisfaction
Advocacy (NPS)
*CSI Analytics, 2012 (commissioned by Macquarie Practice Consulting)
** Macquarie VAN Prospensity, 2022 (partnered with KPMG & Qualtrics)