by Matt Aitchison
We hold a privileged position in the lives of our clients. They step into our offices and tell us all about their hopes, dreams, and fears. We then get to help them use their money to achieve the life they want to lead.
In order to do that to the best of your ability takes more than knowledge of the best pension wrapper or a clever tax saving strategy. Below are four of the key characteristics that I believe are the key to becoming (and staying) a great financial planner.
What's your favourite story? Treasure Island? Lord of the Rings? A film like The Matrix? What if you could sit down with your favourite character and speak to them? Would you ask them about their story? I'd want to know what was going through their head while they experienced their story, were they excited, scared? I would sit on the edge of my seat, enthralled by their every word.
When a client steps into our world, they are the star of their own story, and everyone – and I mean everyone – has a fascinating back story. It might be the struggle to build a business from scratch or the different places they have worked around the world. Everyone's story gives vital insights into who they are as a person. Not only that, but it's like not a lot of people will have asked your clients about their full story. After all, how many people know yours?
Become a master at asking thought provoking questions, get really comfortable with silence and listen attentively. Then when your clients have stopped talking, ask some questions. Pick up on a strand in their story and follow that thread. Being truly curious about your client is one of the most valuable skills to have.
You need to care, and I mean really care. The financial planning process has the potential to completely change your clients lives. It could allow them to retire, start the business of their dreams or travel the world. You cannot afford to have an off day. You need to put your heart and soul into this plan with the aim of delighting your clients.
I get a genuine thrill when I pop all the new client details into Voyant. I can build out the timeline with their great life and see how close they are to leading it. Can I get them closer to that dream retirement? Are they already there but just don't know it? What can I do to improve their life?
The best financial planners I know are confident in their abilities, but stay humble. They are very aware that they don't know everything and, as a result, are always open to learning and improving. While sitting exams and gaining qualifications is vitally important, but not the end of your learning. If you want to be a great financial planner, you need to develop more than your technical knowledge.
I read books, attend conferences, listen to podcasts, and exchange best practice with other financial planners. I often plug in a podcast on a dog walk or when going out for a run. Some of my favourite podcasts are Financial Advisor Success, The Financial Life Coach Podcast, Between Now and Success and XYPN Radio. The very best podcasts give me an insight into best practices around the world whilst inspiring me as to what's possible.
How many of you listen to the pre-flight safety briefing? If you do, you'll remember that you are told to put your own lifejacket on first before helping others. This absolutely applies to our work.
You need to be in a good place mentally and physically to work to the best of your ability; so, look after yourself. Make sure you…
In my last article I spoke about living with intentionality and the work life balance, but the fact is that a happy and healthy planner will be sharper and more able to deliver a life changing experience for their clients than someone who isn't feeling great.
Those planners who are curious, caring, always learning and in a great place mentally and physically will lead the way in this profession. Give yourself the best chance to be at the forefront and you improve not only your own life, but the life of your clients as well.
Matt Aitchison is a Chartered Financial Planner, Certified Financial PlannerTM and Managing Director at Clear Vision Financial Planning Limited. In his free time, Matt loves spending time with his wife and four daughters, making memories and generally enjoying life.
