How to bridge the relationship gap with clients

Many financial professionals enter the business with a clear understanding of the technical side of finance. We can seamlessly calculate the amount clients need for insurance, prepare projections for a lifetime of fulfillment and develop amazing investment strategies to exceed anyone’s goals.

Although some advisors advertise their education and ability to provide comprehensive plans, the true value of a professional’s talent is in their ability to create an engaging relationship that can bridge the gap between the personal and technical sides of finance.

However, it’s unrealistic to have a deep relationship or spend significant time with every client. So, how can we possibly bridge the relationship gap? Here are three variables to keep in mind to provide top-tier service.

1. Communication

Healthy communication includes the willingness to be direct while remaining focused on the clients’ needs and feelings. The ability to help clients label what they’re feeling about money, their goals and their delicate emotions during life’s transitions is pertinent for sustaining client relationships. By practicing open communication and giving clients the space to do the same, you foster mutually beneficial, healthy relationships.

2. Trust

Trust is what grows when advisors are there for clients through thick and thin. Working as a fiduciary does not inherently create trust — it’s the consistency and reliability throughout various life changes that build the foundation. Providing your clients with that sense of security will help them feel more comfortable confiding in you about potentially sensitive subjects. When your clients can fully trust you, you can help them reach and exceed their goals.

3. Relevant interactions

All clients have varying preferences around how frequently they would like their advisor to interact with them. It’s important to develop communication techniques and build a plan for interactions based both on your preferences and on theirs. For example, some advisors send cards regularly to clients who have opted in to receive them. Others take time to identify personal interests and share relevant information. When you establish and then act on a plan, clients will see how deeply they’re valued.

Theodore Roosevelt said, “No one cares how much you know until they know how much you care.” This could not be any truer in financial services. When working in this client service-oriented field, the advisor-client relationship must be a top priority.

When you strike that balance between a friendship and a healthy professional relationship via communication, trust and relevant interactions, both you and your clients will benefit. Giving clients that extra sense of security through a trusting relationship will help them feel comfortable and confident they’re working with the best possible advisor for them.

Renee Hanson, CFP, BFA, CEP, CDFA, CFS, ChFC, APMA, is a private wealth advisor with Affinity Wealth Advisory Group, a private wealth advisory practice of Ameriprise Financial Services. Renee is a 10-year MDRT member and Top of the Table qualifier. She may be contacted at [email protected].