Fidelity Focuses on Personalized Service

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ORLANDO, FL- Fidelity has a big task at hand: how to develop a one-to-one relationship with its six million investment customers.


The Boston-based company's goal is to know each customer by name and investment, to offer products and services to complement their needs, and to impress them with proactive service. It will accomplish this through technology with a personal touch.


Fidelity's top priority is to assure customers that their investments are secure. That means no predictive dialer. Reps dial customers by hand.


"We don't want a click to sound on the phone that takes away the feeling of personalized service for the customer," said Shepley J. Munson, senior vice president, for Fidelity Investments Retail Group.


To get closer to the customer, the company will upgrade technology within the next six months, focusing on campaign management, lead management, on-line channel integration and rep channel integration.


Part of the plan involves an 'at risk' function that signals a rep of a customer's increased likelihood to leave the company. Based on researched predictors, a rep can immediately reach out when a customer transfers, say, 25 percent of his assets out of the company and can give the customer an incentive to stay. Reasons for inactivity or partial withdrawals will also be tracked.


"When we find out that Mrs. Smith withdrew a portion of her funds, we don't wait for her to call," said Munson. A rep will dial her (by hand) and proceed with the 'at risk' script based on the information in Mrs. Smith's file.


For this to work efficiently, the system will perform a daily sweep of the database and automatically inform the reps to make the call. The company would not give specifics as to when this would be implemented.
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