As independent financial advisers, we understand how important it is to protect and grow your reputation and maintain and protect the relationships you have with your clients. With the new year rolling in, it’s time to reflect on how far we’ve come on these two points, and what plans we have for the future.
When it comes to resolutions, we have (at least) three that will make you a better adviser in 2018, sustaining your career development and encouraging even better relationships with your clients going forward.
Resolutions for financial advisers
1. Educate your clients
Many individuals do not know enough about their wealth or how the financial markets work, preferring to leave it all in the hands of their adviser. While this might mean you can spend your day going over paperwork rather than engaging with a client and saving loads of time along the way, it’s not necessarily the best thing for your client. Not only is it so much more rewarding to send time explaining a client’s portfolio to them, as they learn more about how the financial markets work, you can start working together as a financial team. This can make your interactions with them less stressful and more productive.
2. Boost your education
You can never learn too much and you can’t waste what you’ve learnt. Required accreditation and conference attendance aside, increase your financial knowledge by taking a course, gaining another degree, or simply signing up to a new newsletter or podcast. Learning more about your industry and any new trends or products will make you a better adviser and your clients happier in the knowledge that you are up to date with all the latest and most relevant developments and truly doing what is best for them.
3. Commit to communication
The best way to build a strong relationship with your clients is to stay in touch. They want to feel acknowledged and remembered, and that goes beyond a commitment to an annual review. Decide how best to communicate with your clients (would they prefer emails, one-on-ones, or a combination of the two, for example?) and make sure to be in touch on a regular basis. This will keep you top of mind in their financial considerations and make sure that you know what is going on in their lives so that you are able to help them plan and protect their wealth more effectively. Let your clients know how and when you will be communicating with them and encourage them to be touch as and when they need to as well.
Want to work with an independent financial house team that believes in treating each client as a valued individual? Work with us! Through our insurance and investment management offerings, we believe in supporting independent financial advisers in building their client base, supporting their clients with the best possible resources and products, and achieving long-term success for all parties.