Exceeding Customer Expectations Around Data Collection

Most consumers are happy to give their information in exchange for a highly personalized experience, but their expectations regarding personal data security are changing.

Regulations like the General Protection Data Regulation (GDPR) set the standard of responsibility, but consumers expect companies to do more than what’s required by law, and go above and beyond the compliance “checklist” approach.

A new horizon, opportunity

Forward-thinking companies, like Frazier & Deeter, see data privacy as an opportunity, not an obstacle. By showing they care about the privacy of the personal data they collect and process, they wield a competitive advantage over those who don’t make privacy a priority.

Recently, Frazier & Deeter expanded their firm into the European market and knew they would need to update their policies and procedures to comply with GDPR. But, most importantly, many of their clients had been inquiring if they were GDPR ready.

“Of course, compliance is important to us because it’s law, but we also didn’t want to lose client relationships. We had no in-house expertise of GDPR, and trusted Red Clover Advisors to change our current procedures as needed,” says Adam Moleski, Chief Information Officer, Frazier & Deeter.

Delivering great customer service

Moleski contacted us after receiving a referral from one of their team members. After an initial discussion, we determined the scope of their project and created a process that would minimize any client disruption. 

Their project included conducting a data inventory, identifying key stakeholders, performing a privacy review, and educating different members of the firm on the new processes we’d be putting in place.

“I served as the main person doing the tactical work to get the company in compliance. We’ve created a strong foundation for the company to continue building upon so they can deliver great service to their clients, “ says Jodi Daniels, founder of Red Clover Advisors.

During the project, Red Clover Advisors acted as an extension of Frazier & Deeter team and continues to provide guidance today when customers ask questions related to their personal information and rights.

“It's comforting to know we have the procedures in place and know how to handle our customers’ data responsibly. Red Clover Advisors was easy to work with, responsive with questions, and definitely knew everything about GDPR requirements,” says Moleski.