/ by Don Connelly / Managing the Relationship / 0 comments
A critical aspect of advising clients is to ascertain their financial goals correctly. If you or your clients don’t genuinely understand the goal, your advice could be dangerously off base, and you could lose your client’s confidence.
Clients typically come to financial advisors with various goals, but they might articulate them in nuanced ways, reflecting their concerns, values, and life circumstances. Your role as a financial advisor is to listen carefully, ask probing questions, and translate these expressions into actionable plans created around their biggest concerns, preferences, and priorities.
Here are five common financial goals clients have and how they might express them differently:
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To Better Understand Your Client’s Goals, Listen Carefully to How They Express Them
/ by Don Connelly / Managing the Relationship / 0 comments
A critical aspect of advising clients is to ascertain their financial goals correctly. If you or your clients don’t genuinely understand the goal, your advice could be dangerously off base, and you could lose your client’s confidence.
Clients typically come to financial advisors with various goals, but they might articulate them in nuanced ways, reflecting their concerns, values, and life circumstances. Your role as a financial advisor is to listen carefully, ask probing questions, and translate these expressions into actionable plans created around their biggest concerns, preferences, and priorities.
Here are five common financial goals clients have and how they might express them differently:
Read more
Finding the Right Mentor
/ by Don Connelly / Best Practices / 0 comments
Financial advisors must bring with them some essential traits. They need to be ambitious, courageous and thrive on hard work. That’s just the minimum required to survive the early years. From there, the learning curve is steep, with much to learn—technical and analytical skills, product knowledge, and critical soft skills—all while riding a wild rollercoaster of ups and downs. Those who choose to go it alone struggle mightily to get to the next level. But those who develop a successful relationship with the right mentor often flourish.
Mentors are vital to financial advisors’ growth and development, helping them achieve all their goals and prepare them to face even the harshest of markets with equanimity.
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