What’s one of the top reasons clients decide to part ways with their financial adviser? If your answer is poor service or experience, you would be right.

According to Morningstar, the number one reason investors fire advisers is a lack of quality service. It’s not only about wealth management or returns — it’s about delivering an exceptional client experience that keeps clients loyal and eager to recommend you. Other reports note that three of the top four reasons clients leave their advisers are all service related.

If the thought of losing a client because of subpar service makes you uneasy, don’t worry, there are two foundational pillars you can build within your firm to prevent that from happening. The two pillars that can not only help you meet but exceed client expectations are: a segmented service model, and a client advisory council.

By dedicating time and resources to these initiatives, you can transform your clients into your biggest advocat