3 answers
Grace
Student
Colorado Springs, Colorado
1
Question
Updated
309 views
In the financial services industry, what is the number one quality you believe clients look for in choosing a planner? What is the quality I should most focus on growing in my education and young adulthood? #Spring25?
#Spring25 I'm looking for advice as I begin my University time and future career
Login to comment
3 answers
Sneha Deb
Tech Consultant
194
Answers
Edison, New Jersey
Updated
Sneha’s Answer
Hey Grace! In the financial services industry, I believe the number one quality clients look for in a planner is trustworthiness. People are handing over their hard-earned money and future plans so they need to feel confident that their advisor is honest, reliable, and truly has their best interests at heart. As I grow in my education and young adulthood, I know it's important to focus on building that sense of integrity, along with strong communication and emotional intelligence. Technical skills matter, but I’ve learned that clients remember how you made them feel. You should strive to make them feel listened to, respected, and secure. Good luck!
Rick Kneisley
Retired Investment Broker and Investment Sales Manager
13
Answers
Georgetown, Texas
Updated
Rick’s Answer
Grace,
Sneha's answer is absolutely correct. With over forty years of experience in the sale of financial services, I learned early on that no one buys anything from someone they don't trust. Especially when it comes to investing their savings.
To begin, I never talked product until the client became comfortable with me. Those coworkers of mine who were not very successful often started out talking about their favorite stock or stock fund, or favorite bond or bond fund. I could see their clients faces when this would happen. They were not smiling. They looked perplexed. Result was usually a no-sale.
So here is how I gained that all important trust in every sit-down with a client, or clients if it was a husband and wife. I smiled, complimented them in some small way and asked about their personal life. I did not start out by talking about myself. That' would have sent the message that I'm more import than they are in this sales setting.
Asking questions like "Are you from this area? That can lead to many additional non-invasive personal questions. Once they were smiling and enjoying their time with me, then I would share my background, focusing on my Economics' degree, my wife and kids, and how long I had been working in the industry.
Then it would be time to say, "What are your financial goals for the money you're looking to put to work here today?" That term "work" is better at the start than using the word invest. Invest can have a scary connotation for some. That will change once you discover their feelings about looking into doing business with you. You're measuring their risk tolerance, length of time for this investment, and is it for income or growth, or both.
And Grace, if you're not a very gregarious person now, then that is an easy fix. Practice the above sales technique for gaining trust with the new people you meet. Learning to do that will help make you a very successful financial service representative. The financial rewards for you personally are excellent.
One last cavate. Working for a firm where you have to go digging for clients to talk with is not fun or fulfilling. Avoid it, please. Working in a bank with an investment adjunct program is much better because the bank's staff will be bringing over customers who want to withdraw their money to go find a better rate. Plus, there are other ways to avoid the cold call approach to the business. You just have to do the research when you're ready to go to work.
Good luck, Grace.
Rick
Sneha's answer is absolutely correct. With over forty years of experience in the sale of financial services, I learned early on that no one buys anything from someone they don't trust. Especially when it comes to investing their savings.
To begin, I never talked product until the client became comfortable with me. Those coworkers of mine who were not very successful often started out talking about their favorite stock or stock fund, or favorite bond or bond fund. I could see their clients faces when this would happen. They were not smiling. They looked perplexed. Result was usually a no-sale.
So here is how I gained that all important trust in every sit-down with a client, or clients if it was a husband and wife. I smiled, complimented them in some small way and asked about their personal life. I did not start out by talking about myself. That' would have sent the message that I'm more import than they are in this sales setting.
Asking questions like "Are you from this area? That can lead to many additional non-invasive personal questions. Once they were smiling and enjoying their time with me, then I would share my background, focusing on my Economics' degree, my wife and kids, and how long I had been working in the industry.
Then it would be time to say, "What are your financial goals for the money you're looking to put to work here today?" That term "work" is better at the start than using the word invest. Invest can have a scary connotation for some. That will change once you discover their feelings about looking into doing business with you. You're measuring their risk tolerance, length of time for this investment, and is it for income or growth, or both.
And Grace, if you're not a very gregarious person now, then that is an easy fix. Practice the above sales technique for gaining trust with the new people you meet. Learning to do that will help make you a very successful financial service representative. The financial rewards for you personally are excellent.
One last cavate. Working for a firm where you have to go digging for clients to talk with is not fun or fulfilling. Avoid it, please. Working in a bank with an investment adjunct program is much better because the bank's staff will be bringing over customers who want to withdraw their money to go find a better rate. Plus, there are other ways to avoid the cold call approach to the business. You just have to do the research when you're ready to go to work.
Good luck, Grace.
Rick
David Ludwick
Business Owner
60
Answers
Huntington Beach, California
Updated
David’s Answer
Hi Grace,
In the financial services industry, the number one quality that clients typically look for in a planner is trustworthiness. Clients want to feel confident that their planner has their best interests in mind and is transparent, ethical, and reliable in their advice and actions.
As you begin your university time and look ahead to your career, focusing on developing strong communication skills and emotional intelligence (EQ) will be valuable. These qualities help build trust with clients, enabling you to better understand their needs, explain complex financial concepts clearly, and navigate sensitive discussions. Additionally, enhancing your technical skills, especially in areas like financial analysis, risk management, and investment strategies, will be crucial for your success in the field.
Building your expertise while nurturing your interpersonal skills can set you up for a rewarding career in financial services.
In the financial services industry, the number one quality that clients typically look for in a planner is trustworthiness. Clients want to feel confident that their planner has their best interests in mind and is transparent, ethical, and reliable in their advice and actions.
As you begin your university time and look ahead to your career, focusing on developing strong communication skills and emotional intelligence (EQ) will be valuable. These qualities help build trust with clients, enabling you to better understand their needs, explain complex financial concepts clearly, and navigate sensitive discussions. Additionally, enhancing your technical skills, especially in areas like financial analysis, risk management, and investment strategies, will be crucial for your success in the field.
Building your expertise while nurturing your interpersonal skills can set you up for a rewarding career in financial services.