Customer service.  Customer service is important for both retail and institutional investors.  In the retail space, in addition to expertise, investors value empathy in their financial advisors: “An empathetic financial advisor is one who truly listens to clients, ensuring they feel understood and who demonstrate that they care.”  One expert in private wealth management says that advising people about money is being “part financial expert, part shrink, part friend and confidant, and part entertainer.”