• Donald P McKenna

What is important in a Financial Adviser

What is important in a Financial Adviser. Have you thought about what the person is like, what do you really need to them to deliver for you? You will have important decisions to make on your financial journey, so it’s even more important that you find someone you trust that you can work well with.


One of the reasons you need to be very comfortable and confident with your choice of adviser is that this should be a long-term relationship. It shouldn’t be just about a once off product sale. You don’t switch hairdresser, dentist or doctor every time you need their service. It should be the same with your financial adviser.


A recent poll we ran asked which of these 4 things were most important to people choosing an adviser:


- Holistic planning

- Peer recommendations

- Qualifications & experience

- Product knowledge


Over 50% of respondents stated that an adviser who offers a holistic financial planning service would be their choice. This was followed by over 25% opting for peer recommendations.


We believe this shows that the relationship between client and adviser is key to success. This person will work with you to identify your stated primary objectives and help you put a plan in place to meet them. They will gain an understanding of what your true ambitions and dreams are. They will get to see exactly what income, outgoings and expenditure there is in your household. They will be a vital cog in the machine that drives your Plan for Life and brings it to fruition.


A clear majority of people want someone they can build a long-term relationship with. And given that peer recommendations also rate strongly, they are looking for someone who they know has successfully done this for others.


While product knowledge, qualifications and experience are the tools that assist a financial adviser to do his job, it is assumed that these are in place. A bit like knowing the hairdresser or barber has a sharp scissors. What they need is the skills to guide their clients along their financial journey along the smoothest path possible.


Soft skills such as listening, empathy, life experiences and problem-solving are vital in a financial adviser as much as the financial acumen. This is how a good relationship becomes great and manifests itself in a realistic and well-thought out financial life plan.



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