79%
clients left a competitor for us
100%
EU Safe Harbor Compliant
Expanding capacity while maintaining high standards
Key
Highlights
Highlights
Secure collaboration enables teams to work together as needed while protecting privacy
Automation streamlines workflows and data sharing
Flexibility in features ensures new use cases are supported as the organization grows
The Story
The challenge
Prospera Financial needed an advanced feedback management solution that would keep up with the needs of a growing firm
Prospera Financial, a boutique wealth management firm based in Dallas, Texas, has many key stakeholder groups. First, there are the 80+ employees who make up the core staff. Then, there are the financial advisors they support: 175+ advisors across the US, with an average of 29 years of industry experience. Finally, there are the advisors’ clients – and their $21 billion in managed assets.
With this expanded network, it’s no surprise that #1 in the firm’s list of key Fundamentals is “Invest in relationships.” “We’re a family,” said Quality Coordinator Ruby Lopez. “Our advisors come first for us!”
As the family grows, though, it’s important to keep everyone on the same page. For instance, Fundamental #2 is “Deliver legendary service.” For Prospera, setting and consistently achieving this standard requires plenty of feedback. (#26 is “Be relentless about improvement.”)
When they learned that the feedback tool they’d been using would soon be discontinued, the team kicked into high gear.
Faced with the need to make a change, the search for a replacement soon became a search for an improvement. Rather than sticking to the basics, the team began to consider a full range of options. They wanted a solution with a native Salesforce integration, the ability to pre-fill known information about participants, and automatic alerts and data pushes as responses came in.
The solution
Because of their diverse range of project requirements, Prospera needed a feedback management solution that would help them to collaborate across teams while maintaining privacy and security in keeping with compliance standards. They also knew they’d need a solution with the features and flexibility to adjust to new project requirements quickly.
In Sogolytics, Prospera found both a platform and a partner. “At first, I was kind of scared,” shared Lopez, who was new to surveying when she started working with Sogo. “I didn’t know what to expect – but it’s been great getting to learn all of these need aspects of surveying.”
Sogolytics’ licensing agreement made it easy for Prospera teams to align their account set-up with their requirements. The HR team had their own profile, separate from profiles for Marketing, Client Experience, and others. While teams could connect and learn from each other, they could also conduct their own projects completely separately without other teams seeing the results.
“One of our WIGs (Wildly Important Goals) is driving advisor engagement, and we’re already seeing more answers on our Gold Standard Survey for advisors, which is great!” shared Lopez.
A feedback survey in team members’ email signatures, too, is an opportunity to receive ongoing feedback on the service provided. Hidden pre-filled data makes it easy for the Client Experience team to learn which team members are receiving positive feedback, even without survey participants filling in names and details.
Separately, among other projects, the HR team is using Sogolytics to collect questions and suggestions before company town hall meetings and conducting monthly check-ins on Personal Development Meetings. Automated delivery on the first of the month ensures that this process runs on its own, saving time and effort.
From the compliance perspective, the team uses Sogolytics to ensure alignment with policies, and then Rules and Alerts to push data into their core internal record system – automating an otherwise endless manual task.
“The dashboards give us insights we can look at every day,” explained Lopez, “And it’s not just the numbers we’re looking at! We’re really asking in-depth questions – and we’re getting results!”
The result
As the organization grows, engaging current and new team members is a top priority. Said Lopez, “We’re taking on more employees, more advisors, more service associates – and we’re making sure that nobody feels left out.”
From NPS to employee experience insights, there’s plenty of information coming in all the time, both delivered to the leadership team and fed into the organization’s core metric dashboards. “All of that data is very useful for us,” shared Lopez. “We're definitely happy with it!”
Partnering with Sogolytics has encouraged Ruby Lopez and the team to explore new ways to connect with their most important stakeholders. Now, colleagues from across the organization approach her with their own ideas about how they’d like to improve their outreach, too.
Laughing, she shares, “I usually tell them, ‘You’ve definitely come to the right person, but let’s find out how I can help.”
Using Sogo has helped us maintain a robust and thorough feedback loop for our clients and staff.
About Prospera Financial
Prospera is a new breed of independent broker-dealer firm where the advisor leads the charge, individuals define their own brand of success and the highest level of service comes standard. You don’t work for us; we work for you. It’s a nifty business model that has transformed a small brokerage firm into a thriving organization with a national presence.
Founded in 1982 by financial advisors, Prospera’s growth has been fueled by our partnership with some of the nation’s largest securities firms. So, working with Prospera means you’ll enjoy the best of two worlds—the hands-on expertise and attention of a boutique, service-driven culture and the resources of some of the largest broker dealers in the country.
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