The New Year has begun and every financial advisor’s resolution will most likely be to grow their practice. That is only possible when you are better than others. Successful financial experts don’t just excel at managing wealth; they are brilliant at handling relationships too. If you can’t build a strong bond with your clients, they will not trust you with their money. Having meaningful conversations and being affectionate towards them ensures loyalty and moreover, helps to convert prospects into clients. Include these tips in your daily practice from today to be an outstanding advisor
1. Be on top of things
It is important for clients to know that you are constantly working to meet their expectations. Stay in touch with them on a regular basis. Return their calls on time. Pay attention when they discuss their monetary matters and offer useful advice. Developing a consistent process which includes sending mails and posting on social media is an effective method of staying on top of things.
2. Have excellent communication skills
Don’t commit the mistake of impressing clients with complicated graphs and difficult terms. Even though you want to show clients that you are well-versed with financial concepts, they should also be able to understand clearly your suggestions and how it will help them attain their objectives. Explain in simple language your investment strategy and how you aim to develop the ideal portfolio keeping in mind the client’s goals and risk appetite. Be direct and ask them if they have any doubts.
3. Make sure you are always there
Many clients can tend to get anxious at times when it comes to talking about money. This apprehension might increase in certain situations, for example when the markets are instable or due to an unexpected occurrence like job loss, death of a family member or divorce etc. In such stressful situations, clients need you the most.
Financial advisors must be their guide and give them the right advice in handling their money. Clients will stick with you for a longer time, be willing to invest more and refer you to others.