Four Things Your Adviser Should Bring to Your Relationship : The Human Side of Money presented by Client Care

When looking at the traits and skills your financial adviser should bring to your relationship,  it is normal for you to think of things such as knowledge on the markets, investments, tax, estate planning and all things financial. While these are non-negotiables, there are also four important things which should be wrapped up in the process they use to advise you initially and on an ongoing basis.

1. Insight

An experienced adviser would have insight to many situations due to having dealt with and worked with other clients over the years. While your situation will always be unique, there will be similarities between your problem and other clients he or she would have worked with. This insight will help in understanding how to get to a particular outcome you want and need.

 

2. Objectivity

A good adviser understands that often their clients are too close to the problem which makes it difficult for them to step outside of their own reality and see what is really happening. Being an outsider to a client’s life allows the adviser to be objective and to see what the real issues are. Objectivity requires distance.

 

3. Courage

Having insight and objectivity is useless without the courage to share what the adviser sees. At times hard conversations need to be had and an adviser that does not have the ability to hold these conversations is not going to be effective or add much value. Impact requires courage.

4. Empathy

Empathy is courage delivered without permanent harm. Having empathy will inspire change which is what must happen for a client to improve their situation and get to where they want to be. The adviser must charter a path that is believable to you as a client so that you are happy to walk that path with their guidance.

Your adviser cannot just be your friend, they need to be able to hold you accountable and to get you to take action. The best theoretical advice not implemented is useless to a client. Having an adviser that pushes you when it is needed is exactly the relationship you want to have.

Do you see these four building blocks in your adviser relationship?

Dirk Groeneveld, Certified Financial Planner.