PlusGroup Logo
  • About Us
  • Services
  • Resources
  • Contact Us

5 Ways to Become a Better Financial Adviser

Clare Redman

As an excellent wealth manager with a valuable reputation in the industry, you need to be the person clients return to and recommend for financial advice.

You already have a passion for finance and enjoy providing the best advice to suit a client’s individual requirements.

But do you know how to take your financial management skills one step further and stand out from the crowd?

These are the 5 key ways to become a better financial planner…

1. Develop your communication skills

When a client asks you to advise on their personal finances, it’s essential to build their trust.

This means listening to their needs and asking the right questions.

From the first contact, you should build a connection with your client without being too personal.

Whether they have a short- or long-term financial goal, it’s your role to listen before you suggest the various options available to them.

2. Get to know your clients well

Whilst it’s important to maintain a professional distance, you still need to connect with your clients.

If you only meet them once a year for an annual review, it´s important to remember all the details of their financial situation.

Make notes after every meeting and review these before the next.

It’s also useful to store a few important details about their life in your head to build small talk:

But don´t cross the line of data protection.

3. Solve your clients’ problems

The client has approached you because they’re looking for a solution.

The world of finance is complex to the general public, so they need your expertise.

How can you give them value?

Make suggestions and allow them to choose the best option.

For example:

Let’s say a client has been left a generous sum of money in a will and has no idea where to invest it.

As their valued financial adviser, you need to guide them with an unbiased opinion.

And that’s not all.

Many of your clients will be vulnerable or going through a stressful period of their life.

It’s important to be sympathetic and give them impartial information.

Frame your work like this:

“What is the problem this person needs solving?

And what is it I can do to help them?

What is the solution to remedy their concern?”

Person reading a book about the fundamentals of financial planning

4. Become the go-to expert for financial advice

Whether you work in a niche market or are a general financial advisor, you should never stop learning.

Keep up with developments in the financial sector by taking training courses and regularly reading relevant articles.

When speaking to clients, your expertise will come across and they’ll be confident in taking your advice.

If you’re a specialist, make sure you have a network of connections in other fields that you can recommend to your clients, such as:

  • Solicitors
  • Mortgage advisers
  • Private healthcare suppliers

This kind of help is invaluable for building client relationships and works both ways, as your colleagues will refer back to you.

5. Embrace technology

Make the most of new technology and use it to make your job easier.

From simple tasks like logging appointments in an electronic diary, to giving client presentations on-screen, the latest technology demonstrates a professional approach.

Keeping track of information and updates from providers is also best tracked electronically for ease of access.

Not got the time to manage this by yourself?

Our LOA Chasing team can help.

Our services are completely customisable to the needs of your St. James’s Place Practice.

Here’s another important point to consider:

Whilst you may not see yourself as a marketing specialist, an understanding of tools such as SEO (Search Engine Optimisation), email capture and CRM (Client Relationship Management software) can enhance the client experience.

If this sounds like we’re speaking another language, fear not, as our Social Media Management crew is here to help.

Team of four people wearing headsets with microphones while sitting at their desk

These tips will help you improve your career as a financial adviser and turn those prospects into long term clients that refer you to friends and family.

If you’re looking for time management hacks to turbo charge your business growth and achieve more free time, click here to read our top tips.

And while you’re juggling all of this, don’t forget to take some time to decompress and recharge:

Tap here for our guide on how to achieve the perfect work/life balance.

We're Hiring!

Plus Partner Services Limited, trading as Plus Group. VAT Number 191887360.