Positive client relations key to solid financial wellbeing
Clients are deciding the value of their financial planner from their ability to understand to their needs and circumstances and willingness to invest in helping with long-term financial goals, according to Centrepoint Alliance.
In a presentation at the Adviser Ratings’ FinForward conference, Centrepoint Alliance managing director, John de Zwart, said the professionalism and advice provided by planners were not the strongest factors which attracted them to clients.
“Of course advisers must have the competence, technical skills and product knowledge to give quality advice. From a client’s perspective, these should all be givens,” he said.
“In terms of a client’s financial wellbeing, research shows that clients receive the greatest value from the act of planning and achieving their financial goals over a period of time.”
De Zwart said advisers could not lose sight of client wellbeing which was vital to their image as a trusted adviser.
“Clients understand it is a journey and as long as they feel they have a clear plan and you are guiding them on the way, they will have a much stronger sense of wellbeing,” he said.
“Having a financial plan that addresses their changing circumstances gives people a sense of control over their financial affairs.
“It also helps to remove the uncertainty and worry which has a negative impact on people’s wellbeing.”
AUTHOR
Hope William-Smith
Recommended for you
The Australian Financial Complaints Authority has reported an 18 per cent increase in investment and advice complaints received in the financial year 2025, rebounding from the previous year’s 26 per cent dip.
EY has broken down which uses of artificial intelligence are presenting the most benefits for wealth managers as well as whether it will impact employee headcounts.
Advice licensee Sequoia Financial Group has promoted Sophie Chen as an executive director, following her work on the firm’s Asia Pacific strategy.
The former licensee of Anthony Del Vecchio, a Melbourne adviser sentenced for a $4.5 million theft, has seen its AFSL cancelled by ASIC after a payment by the Compensation Scheme of Last Resort.
