The Power of Doing Common Things Uncommonly Well

The allure of the newest flashy tech trends often overshadows the core of what truly drives success. We romanticize complexity when the real magic usually lies in simple, straightforward solutions.

Doing ordinary things extraordinarily well can dramatically impact customer experiences and value delivery in wealth management. Since we can learn a lot from outside our industry, let’s look at some well-known examples.

Getting the Right Things Right

Disney turns the simple act of visiting a theme park into a magical experience. Amazon transforms the mundane task of shopping into a hassle-free, efficient process. They’ve perfected the art of doing the common uncommonly well, creating raving fans and unmatched customer loyalty.

In wealth management, the same principle applies. Focus on flawless execution in everyday things — be it through technology, customer interactions, or investment strategies — and you create an edge that’s hard to replicate. It’s not just about doing things right; it’s about doing the right things exceptionally well.

Technology: Elevating the Everyday

Technology isn’t just about innovation for innovation’s sake. It’s not about finding new tech and a way to fit it into the business. And it’s usually not about inventing new things. It’s about the creative use of quality tools and bringing things together to make everyday tasks extraordinary. Many of these things are simple and straightforward and unlock value your clients care about.

Think about the simplicity and efficiency of Apple’s product ecosystem. Setting up a new iPhone or integrating it with other Apple devices isn’t just straightforward; it’s a delight. (Read: transitions and conversions) This isn’t because Apple’s technology is inherently more advanced — it’s because they’ve mastered the basics of user experience. In fact, the more complicated the product and underlying technology, the more straightforward and intuitive the experience needs to be.

In wealth management, this translates to processes like client onboarding. Most firms treat it as a routine necessity, but the real innovators make it seamless and even enjoyable. Imagine a digital onboarding process that’s as effortless as setting up a new Apple device. By transforming mundane steps into exceptional experiences, firms can build deep trust and satisfaction from the get-go. 

“The more complicated the product and underlying technology, the simpler and more intuitive the experience needs to be.”

Customer Experience: Excellence in Every Interaction

Customer experience is more than a series of isolated events; it’s the cumulative effect of countless small interactions done exceptionally well over time. Think about Starbucks. They’ve taken the simple act of ordering a coffee and turned it into a personalized, comforting experience. Every interaction, from finding a store to the friendly barista to the cozy ambiance, is designed to make you feel valued. Customers line up to pay $8 for a curated experience that happens to include a cup of coffee. 

Translating to wealth management, if the only thing an advisor did was help organize clients’ financial lives, they’ve added a ton of value. The most successful advisors I know transform routine portfolio reviews into insightful, empowering conversations. They don’t just update clients on performance; they help to neatly organize everything, provide clear, actionable insights, and genuinely listen to their clients’ goals and concerns. This consistent attention to detail builds not just client loyalty but advocacy.

Investments: Mastering the Fundamentals

When it comes to investments, chasing complex strategies or the next big thing is tempting. However, the most successful firms often excel by mastering the essentials. Vanguard’s success with index funds is a prime example. They’ve taken a simple concept — tracking the market — and executed it with unparalleled precision, making it accessible to investors at a low cost.  

In wealth management, adhering to foundational investment principles like diversification and disciplined asset allocation can create consistent value over time. Then there’s “tax alpha,” the incremental value gained by managing a portfolio in a tax-efficient way across an entire household.

It’s not necessarily glamorous, but executing tax strategies, like tax-loss harvesting or strategic asset location, can significantly boost net returns. By doing these ordinary things extraordinarily well, firms can offer tangible, enhanced value.

Let’s look at another example: I’ve done process management consulting for years. I’ve found that just doing a good job with processing mapping usually points out where the problems are and rallies a team on how to fix them. Process mapping or journey mapping isn’t a novel concept; done well, it’s one of our most powerful tools.

Trust and Execution: The Real Drivers of Performance

Ultimately, in wealth management, like in many fields, culture and execution are the real drivers of performance. Stephen Sadove, former CEO of Saks, once said, “Culture drives innovation and whatever else you are trying to accomplish within a company … and that then drives results.” Consistent, everyday actions — grounded in trust, excellence, and attention to detail —fuel long-term success.

Mastering the basics is not a strategy; it’s a philosophy. It asks, “How can we turn the routine into something remarkable?” It’s about delivering exceptional value through ordinary processes, creating extraordinary outcomes.

In a recent talk, Dr. Daniel Crosby made an accurate and succinct point: “So many times, people think that complex problems need to have complex solutions, and it’s simply not the case.”

Yes, excellent new technologies, innovations, and ideas are out there. But it doesn’t matter if you don’t get the essentials right first. Master doing everyday things uncommonly well and everything else tends to fall into place.

Mike Betz, CFP® has over two decades of turning wealth management chaos into calm. From advising clients to building RIAs and scaling wealth tech firms, he excels in making complex things refreshingly simple through innovative tech, storytelling, and visual communication. Connect with him on LinkedIn to explore insights on wealth management, client service, and crafting products that truly delight.