Give your client what they need. Ask these questions.

As an independent financial adviser, you know how important it is to build strong relationships with your clients and to make sure you offer them the best possible customer care.

The truth is that, when it comes to the financial services industry, your knowledge and enthusiasm for what you do isn’t actually enough to create a trusting relationship with a client or to best service their needs. You need understanding – you need to know your client, their financial profile, their needs, and their goals for themselves and their money. Getting to this place requires regular meetings and check-ins as well as asking (and answering) all the right questions.

Give your client what they need with these three questions

1. What are your financial goals?

It’s important to know what your client wants to do with their money (and, related, why they work) so that you can best help them to plan for financial success today and in the future. This is also a question that you need to revisit over the course of your relationship – as your client’s lifestyle changes, so will their obligations and goals. This can also be a useful question if you have couples as clients as they might not have the same financial goals and might not even have realised that this is the case.

2. What about your finances keeps you up at night?

As a financial adviser, it’s essential that you understand your client’s true financial situation, as well as their strengths and weaknesses when it comes to managing their money and covering their financial bases. Are they financially savvy and confident about managing their wealth, including their savings and investment choices? Do they understand how different financial vehicles work? How can you help to ease their fears and educate them about their options?

3. What do you want from me and are you getting it?

Trust takes time and it’s built through solid service and honest feedback. Don’t assume that you are giving your clients everything they need because you have slotted them into your way of doing business. They might want more attention or a particular service that you haven’t offered them. Asking them outright what questions they might have and what they want from their financial adviser could make the difference between a client that stays long term and one that potentially moves to a different adviser.

As independent financial advisers, we understand that communication and connection are essential to maintaining strong client relationships. And we know that it takes resources and support to offer your clients excellent service. If you’re looking to work with a financial house that puts client relationships first, talk to us.

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