Source/Contribution by : NJ Publications
You go to a reputed store for your routine requirements because of the trustworthiness of the store-owner, you are sure you'll get quality products and won't be ripped off. A company would never ditch an employee who is committed to his work, who doesn't take surprise sick leaves on Mondays or on tough days when workload is high, who is always there when needed. Your wife would never let go off a maid who shows up even when you have guests coming over. You appreciate when your flight or train is on time, thus ensuring you won't be late for your important commitments.
We seek people who stand true to their commitment in various facets of our lives. The same logic extends to our business, and the degree of influence is higher since we are a service industry, where attributes of the service provider form a vital element of the Equation. Our clients are looking for reliable advisors. Just type in dependable financial advisors in your internet search bar, it will fetch a number of forums and articles talking about how to find a reliable and trustworthy financial advisor. Or just search for qualities of a Financial Advisor, Dependability will occupy a pivotal position on the list. This means, just as we seek trust and reliability at various stages in our lives, as also seen in the examples above, our clients are seeking the same virtues in their financial advisors also.
So let's focus on how can you gain the client's trust by being a Dependable Financial Advisor. It's Simple, Work in the interest of your client and always stand true to your words.
Clients look for advisors whose primary concern is not just selling the product, rather serving their needs. They want someone whose intentions are making money for the client than themselves. Remember when you keep the client's good at the top, your good will follow.
The latter part, being faithful at times transmits various challenges. There are are changes in policies and rules from time to time, things may not go as desired, there can be dead ends, meaning you can not always fulfill your commitments. So, how do you keep your word? How do you manage your clients' expectations?
Show the probable Flip Side: It's easy to share the good part, bragging the past success of the product being offered. However, many advisors fail to communicate the flip side of the coin, which many times leads to breach of trust and hampers their dependability score. So, communicate the odds to help the client take an informed decision, it demonstrates your genuine intent, plus it leaves the client prepared for the risks, and helps you face the client with greater confidence during hard times.
Responsiveness: Another factor which often alleviates the trust in a client-partner relationship is lack of receptivity. Delay in response or No response from the Partner's end often leaves the client frustrated and he/she feels that the advisor cannot be depended upon. Hence it's vital that you always give a heads up as soon as you can and consistently stand up to your commitment of superior service.
Be Accountable: The road is not Vanilla always. Hence when things aren't going in the right direction, be responsible enough to communicate the same to the client in time. Sit down and look for a solution rather than going underground or putting the blame on someone else's shoulders. When you are there with the client during difficult times, it means you have stood the test of time and emerged as a Dependable financial advisor.
So, the bottomline is keep your intentions right, be true to your clients, let not the grip become loose in rough times. Dependability is the basic and uncompromisable quality for success in our business, in fact the simplest and the most effective, and if you really want to survive the immense competition and be a successful advisor, you gotta be Dependable.
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