Advisory firm on why being small helps maintain consistency for clients
Trust is one of the most important elements of relationships in the financial services industry, but that confidence is even more difficult for larger firms to build with clients, believes broker Jack Goguelin (pictured left). It is harder for bigger brokerages to maintain consistency across the service they provide, the founder of Convici Capital suggests.
Goguelin’s business was established in 2023 and operates out of London, Dubai and Jersey. It specialises in global debt solutions, with a particular focus on real estate in the UK, Channel Islands, and the United Arab Emirates, including bridge loans and securities finance.
The firm has benefited from a trend of British and European families relocating to the UAE, seeking a better life. Off-plan property purchases in Dubai are an attractive proposition for those who are business-savvy, it seems. Gogeulin generally deals with high value transactions, so does not need to do a huge volume of them. Last year his business dealt with around 15 deals, the smallest of which was £2 million of debt.
How, then, does Goguelin believe that trust can be built with a client? “I'd start by saying it depends on the makeup of your client base,” he told Mortgage Introducer. “Convici Capital is a boutique advisory firm working with high-net-worth individuals. The majority of our clients have known us for years, having followed from other businesses, or been referred by existing clients who know and trust the process. With a limited number of sophisticated clients, and a small team of experienced and honest people, it's easy to build and maintain trust.”
He continued: “It's harder if you run a large organisation. You can't guarantee consistency across every interaction. The client may experience different people in the business - sales, compliance, finance etc - whose objectives aren't always aligned. Staff may be assessed on quantity over quality, leading to poor client service and a loss of trust.”
Goguelin, who relocated to Dubai himself three years ago, but continues to do business in the UK, believes transparency around the rates a brokerage charges play a big role in a trusting relationship. “The biggest source of mistrust between advisers and clients is undoubtedly fees,” he said, “and this should never be the case. If you disclose your fees upfront, and have them clearly set out in your client agreement, which is signed before the client has started incurring costs, then it's unlikely you'll end up in dispute. Conversely, if your finance function automatically sends an invoice to your client because some box was ticked in the CRM, and this comes as a surprise to your client, you can safely assume that invoice will end up on the bad debtors list.”
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The customer journey
Everyone has their own view on how to win the confidence of clients, it appears. Matt Coulson (pictured right), is the entrepreneurial founder of brokerage Heron Financial, a firm that has over a dozen advisers on its team. He is focused on the customer journey, and the implementation of automation and AI within the mortgage process, with an aim of bringing the speed of modern technology alongside what he calls an 'old school', personal touch style of customer service. Openness with customers is key, he emphasises, for establishing a good working relationship. “For me, building trust with clients is about authenticity, transparency, and consistency,” he said. “Openly communicating the realities and options available, even when it's not the easiest news to deliver, helps clients feel genuinely supported and understood.”
Coulson, who founded his business in 2011, added: “At Heron, we also focus on proactive communication and reliability, ensuring clients never feel left in the dark. Ultimately, it's about genuinely caring for their interests and demonstrating that at every step.”
