What stops client complaints from escalating

You hope you never get them, but misunderstandings and client complaints can happen. There’s an important business process, though, that can stop them from escalating into ethics complaints.

About 95% of problems can be solved with good recordkeeping and notetaking, said 13-year MDRT member Elizabeth M. Dipp Metzger, CFP, MSFS. Even with the best of intentions, it’s easy for anyone to forget, misinterpret or mishear information. Don’t risk your reputation or business based on a client’s — or your — fallible memories of a meeting.

A client may think you said X and Y in a meeting, said Dipp Metzger, but “if you have your notes from that meeting, then there’s no argument,” she said. You can say to the client, “‘These are the notes I have. I’m sorry if it was misunderstood. You also have a narrative because I send you one after each meeting.’”

Taking notes and having those details can make all the difference, said Dipp Metzger, who is a Top of the Table member from El Paso, Texas, USA.

This was excerpted from Dipp Metzger’s 2023 MDRT EDGE presentation “Creating a process and a staff to match the needs of high-net-worth clients.” (MDRT member-exclusive content)

Read more about processes that can keep your business running smoother in this MDRT member-exclusive content:

• “Lessons from the regulator” (Available in 12 languages)
• “Develop processes around your new business model”