Clients demand more from planners: survey
Today’s financial planners don’t need to be superheroes in order to attract new cli-ents. Or do they?
Today’s financial planners don’t need to be superheroes in order to attract new cli-ents. Or do they?
According to RetireInvest, clients expect planners to offer “proactive, independent advice”, as well as have the ability to listen and ask questions, to offer plain Eng-lish jargon-free explanations and be readily accessible and reliable in delivering on promises. And they also need to show a commitment to building the client/adviser relationship and to be able to completely disclose all fees and charges.
RetireInvest has recently completed research on what clients are looking for in their planners. The research was undertaken through research group New Focus.
Not surprisingly, the main reason clients cited for going to see a planner was to gain access to expert advice for their investments. The research also found that cli-ents wanted a planner who was both knowledgeable about investments and who could communicate their knowledge effectively.
Clients looked to planners who would work to gain their custom. The survey also found clients preferred a planner who would allow them to be cautious in investing until they became more confident in their relationship with their planner.
Most respondents to the survey said they picked a financial planner by ‘shopping around’, comparing the performances obtained by planners and by talking to their family and friends.
And most clients don’t find fees are an issue, provided they enjoy good investment returns.
AUTHOR
Samantha Walker
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