Relationship marketing dimensions predicting customer loyalty towards independent financial advisers

Abstract

Independent financial advisers are in a great position to provide customised financial training and planning to their clients and through their services can assist the National Treasury in creating a more financially responsible nation. To succeed over the long term, however, it would be imperative for these advisers to build good relationships with their clients and ensure they remain loyal. As such, this article aims to provide more insight into relationship marketing dimensions that independent financial advisers could employ to create a loyal client base. The study population consisted of all clients of independent financial advisers in the North-West Province of South Africa. The convenience non-probability sampling technique was applied and standard multiple regression analysis as well as the independent sample t-tests was used to analyse the findings obtained from the 139 selfadministered questionnaires that were returned. From the results it became evident that only commitment and customer satisfaction can be viewed as true predictors of customer loyalty. Ultimately, the contribution of this article is to provide guidelines to independent financial advisers for maintaining a loyal client base that will enable them to strategise with their clients over the long term, achieve their saving goals, and become financially independent.