/ by Don Connelly / Best Practices / 0 comments
So, you want to be in the business of giving financial advice. That’s understandable because not only can the career of a financial advisor be financially rewarding, it can also be very fulfilling. Through a relationship that can span a lifetime, you become the essential source of advice in one of the most important aspects of your clients’ lives. There’s just one problem. You don’t have any clients—yet.
As a new financial advisor, your number one job is to find new clients. That has always been advisors’ biggest challenge but more so today due to the trust deficit that exists in the financial services industry. According to a CFA Institute survey, only 57 percent of retail investors trust the financial services industry, which is up from a few years ago, but it’s still a wide chasm to overcome. The same survey found that retail investors listed “trust” as their top consideration when hiring an advisor. Prospective clients simply won’t work with an advisor they don’t trust.
Read more
How to Succeed at Giving Financial Advice
/ by Don Connelly / Best Practices / 0 comments
So, you want to be in the business of giving financial advice. That’s understandable because not only can the career of a financial advisor be financially rewarding, it can also be very fulfilling. Through a relationship that can span a lifetime, you become the essential source of advice in one of the most important aspects of your clients’ lives. There’s just one problem. You don’t have any clients—yet.
As a new financial advisor, your number one job is to find new clients. That has always been advisors’ biggest challenge but more so today due to the trust deficit that exists in the financial services industry. According to a CFA Institute survey, only 57 percent of retail investors trust the financial services industry, which is up from a few years ago, but it’s still a wide chasm to overcome. The same survey found that retail investors listed “trust” as their top consideration when hiring an advisor. Prospective clients simply won’t work with an advisor they don’t trust.
Read more