Respected Financial Advisor

Join the Top 10%: How to Become the Most Respected Financial Advisor in Your Speciality

What if you could join the elite financial advisors of the world?

It’s not that crazy. In fact, it just takes a little bit of work for you to become the most respected financial advisor in your specialty.

And you don’t have to reinvent the wheel to succeed. That’s why we put together a guide filled with the best advice from the biggest movers and shakers in finance.

Keep reading to learn how you, too, can join the 10%!

Market Your Reputation

Think about the best financial advisor that you know. Now ask yourself: how do you know about this person and their accomplishments? Marketing, of course!

This business is all about your reputation. But even if you’re the best financial advisor in the world, you won’t have much of a reputation if people don’t know what you can do.

Ideally, you should choose a marketing niche and lean into it. You can then market yourself as a local expert with a successful background.

To really supercharge your reputation, your website and social media should emphasize things like client testimonials. This provides valuable social proof of your reputation and helps you stand out from the competition.

The Fiduciary Standard

Sometimes, the best things you can do for your reputation are nice and simple. For example, it’s important that you commit fully to the fiduciary standard and market this fact to your clients.

Many clients are naturally skeptical about the advice a financial advisor has to offer. They worry that the advice may only serve to line that advisor’s pockets.

By letting the world know you are committed to the fiduciary standard, you are telling potential clients that you’ll always put their financial needs ahead of your own. And while that sounds simple, it goes a long way towards cementing your reputation and putting you ahead of the competition.

Proactive Communication

Much of our advice centers on attracting new clients. However, much of your reputation comes down to your relationship with existing clients. To improve that reputation, you must take a very “proactive” stance towards client communication.

What does that mean? Simple: you need to make it easy for clients to communicate with you. Start by offering multiple methods of communication (including social media) so that clients find it easier to reach out to you.

On top of that, don’t simply wait for clients to come to you with their problems. Instead, try things like drip email marketing campaigns to stay on top of their minds. And consider calling your clients once per month (if not more often) to see if there is anything they need help with.

Proactive communication is the key to a more profitable business. And it’s the key to a more sterling reputation as well! 

Transparent Operation

One thing that surprises many financial advisors is that clients crave transparency. They may not be experts in finance, but they want to know certain information in advance.

For example, clients are naturally curious as to how you get paid. They want to know exactly how much it will cost them and what different options they have.

Be honest and open with new clients about your process, especially during your first meeting. If you hold anything back, they might think you are being secretive.

If you can pull it off, you’ll be able to bring in more clients, thanks to your open and transparent communication. And the trust that comes from this will transform your reputation.

Don’t Be a Trend Hopper

There is a fine line when it comes to emerging financial trends. As a professional financial advisor, you must know all about these trends. But it’s in the interest of you and your reputation to be slow to adopt new trends.

Why is that? Because to your clients, new trends in finance are like new trends in any other field. Some of these trends may well change the financial landscape, but most of them are fads that will be forgotten ten years from now.

If you panic and try to get clients to embrace a new trend, they may be worried about your confidence and your strategic vision. Worse yet, they may think you just like to hop on whatever is trendy instead of what you think is best.

Long story short? Stay on top of these trends, but stick with your gut when it comes to financial advice.

Motivation Matters

Want to hear what makes the difference between a good financial advisor and a great financial advisor? It all comes down to one word: motivation.

The truth is that any financial advisor can come up with a plan for someone. And it’s easy to be an advisor when everything is going according to plan.

But your clients are going to have days when everything is going wrong. During those times, they need more than someone who can come up with a financial plan. They need someone who can offer them the motivation to stay the course when times get hard.

In short, you need to be more than just another advisor. You need to be a coach, as well. Show your clients that you will lead them to victory, and your reputation will practically glow!

A Calming Influence

You are likely familiar with the phrase, “it’s not what you said, but how you said it.” Believe it or not, this phrase is intimately tied to your reputation as a financial advisor!

Above and beyond the actual financial advice, what your clients really want is reassurance. They come to you because they are worried about the future. Your job is to make them feel safe and maybe even excited about what is yet to come.

Obviously, you must still be honest about any financial difficulties your clients are facing. But if you make sure that clients walk away from meetings feeling pumped with excitement instead of filled with worry, then your reputation will quickly spread.

Use Plain Language

Earlier, we touched on the central paradox of your clients. On one hand, they understand that they know little about finances, which is why they need your advice. On the other hand, they want to know as much as possible about what is going on.

That’s why it is so important to speak to your clients in plain, direct language. Don’t feel like you must “baby” someone or talk down to them. Instead, master breaking those complex financial concepts into something just about anyone can understand.

If you’re not already good at this, we recommend watching some lectures of really top-notch professors. The ability to synthesize complex knowledge into something the average audience can understand is rare, and it will take your career very far!

Client-Centric Planning

No two clients are exactly alike. With that being said, there are certain approaches that work with almost every client. And the best approach is holistic, client-centric financial planning.

That’s because good advice is more than solving a math problem of income and expenditures. You must first learn everything there is to know about the client’s entire financial situation.

Once you have the big picture, you can offer advice that takes all of these bits of financial info into consideration. This will boost your reputation because clients respond very positively to this kind of bespoke financial planning.

The Right Support Team

They say that no man is an island unto himself. And when it comes to financial planning, an advisor is only as good as their support team!

Clients like to see that you have a team (no matter how small) of employees and/or contacts. When something unexpected occurs, all you have to do is pick up a phone or write a quick e-mail to get the answers that you need.

At the end of the day, your clients understand that the buck stops with you. But when a client sees that you have an entire support team of qualified professionals, they will trust you that much more with their money.

Become the Most Respected Financial Advisor: What’s Next? 

Now you know the secret. There is no one method to become the most respected financial advisor in your specialty. Instead, it’s all a matter of connecting with and communicating with your different clients.

Our tips will help improve those client communications and ultimately improve your relationship. But do you know how to take your reputation to the next level?

We specialize in helping financial advisors grow their business and achieve their dreams. To see what we can do for you, contact us today!