FRC - Customer Service Is the Model for This Stock and the Driver Behind Its Success
Ask any bank management team, and they will likely tell you that their bank has great customer service, which is part of their competitive advantage. But oftentimes, it doesn't really seem to translate to a bank's financial returns for investors.
At First Republic Bank (NYSE: FRC) , customer service is really the differentiator that drives the bank's entire business model and has been one of the main contributors to the bank's success. First Republic has a high-touch, relationship-based approach that attracts a premium high-net-worth customer base in the major coastal regions.
Even more, the bank has hard data showing just how successful its customer service has been over the years. Let me explain.
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Customer Service Is the Model for This Stock, and the Driver Behind Its Success