AXA Winterthur offers adviser star rating service

AXA Winterthur Wealth Management has launched a TCF toolkit, including the option for IFAs to earn star awards for customer service.

The firm has teamed up with Investors in Customers (IIC) to illustrate how advisers can gain a one, two or three star award for customer service, designed to provide credibility to IFAs' existing or potential clients and help advisers comply with the FSA's TCF outcomes.

To gain the one year accreditation, questionnaires are sent to IFA firms' customers and staff, while websites and client facing material is assessed to gauge how engaged clients are with the advisory process.

Clients responding to the ten minute survey, score each question from one to ten. The average total score determines whether the IFA firm is rewarded one, two or three stars, with an average score of six out of ten for a one star award and eight out of ten for three stars.

"Generally IFAs are scoring really well," says Neil Craig, managing director of IIC. "We have had a 20% to 40% response rate from clients across the board and probably a bit more from IFA customers."

Advisory firms taking part will also receive a management report assessing the gaps in their customer service offering.

The TCF toolkit comprises:

• Questionnaires designed to test performance against the six TCF outcomes
• Centrally collated responses enabling IFA firms to review feedback and analyse their performance, plus create action plans for the future
• The ability to set specific benchmarks and measure progress across different business areas, advisers or firms
• The capacity to promote positive client comments to social network sites and generate referrals through viral marketing
• Access to a discussion forum and library of TCF related documentation

Advisers can log on for a licence at: www.axawinterthur.co.uk/professionaledge at a subsidised rate of £10 per adviser per month.