Stand in synergy with what your clients hope to achieve in future
Hannes van den Berg, CEO at Consult by Momentum
As a financial adviser, you live in a world where the most important part of your business is the relationship you hold with your client. To develop one that will stand the test of time, you must find a way to understand them and meet them where they’re at.
“We all have different truths - but if you become offended when yours differs from someone else’s, you will never be able to connect.” At Consult’s recent roadshows, coach and motivational speaker Jannie Putter shared this perspective, along with some advice for attendees on how to overcome differences to build meaningful relationships.
He highlighted that as human beings, our nature is to make snap judgements. We assume that we know what someone else is about, without acknowledging the factors that might have led us to make that judgement call. Realising that someone else’s truth is different from our own – while believing that they’ll think our views are wrong – can lead to us becoming offended. Often with no real rooting in reality.
Want a little tip? If your views differ from someone else’s, do not immediately assume that they will think you’re wrong. Why is this important? If you are offended by someone – even if you have reason to be – you will find it more difficult to connect with the person.
In the realm of financial advice, it is good to remember that your truth and that of your clients will most likely not be the same. Therefore, it is important to lay a foundation where you and your client can find common ground. Have a conversation with them about how you plan on navigating this.
Get to know them more deeply than the surface-level relationship many of us hold with our clients. Talk to them about what they value most. When someone is asked, “what do you value?”, the most common response is to list noble ideals, such as family or religion. Yet the one thing that people value is money - sometimes even above family. Money can cause people to fight, relationships to end, and even be the root behind horrible crimes, such as theft or murder.
Historically, the bank manager was the person most familiar with a client and their money. Today, this is no longer the case, and the financial adviser has stepped into this role. We’ve become the closest custodian of the asset that many people value the most. Thus, we hold a great deal of responsibility – we’ve become a coach, a voice, a trustee, an adviser and a friend.
If you take the time to deeply understand your clients – where they come from, how they see themselves, and what is important to them – you will have a better idea of how to solve for their needs and provide the financial solutions that will enable their future success. Find out what they dream about. And remember that when you take the time to understand where someone is coming from, you take a metaphorical step into their shoes. Once you do this, it becomes a lot more difficult to judge them, regardless of how their views and values might differ from yours.
Be honest with your clients. Confide in them. Admit that even though you will always give it your best shot, you might disappoint them on occasion. Opening up to your clients will make them trust you more.
Consider the power of teamwork – as a team, the sum of the parts is more than the individual parts. That is the power of synergy. In athletics, the pacemaker sets the pace and helps to motivate the athletes to go faster and further. Similarly, that is the role you must fulfil for your clients. Sometimes clients have a mental block, and as their financial coach, you can make them believe in themselves and dream big for their future. You must stand in synergy with what your clients hope to achieve in future.
One sure way to fail in life, is to try and please everyone. It is impossible. Know yourself, know what you are capable of and reassure your clients that you have their best interests at heart. To do this, you truly need to walk a mile in their shoes, regardless of how different to you they might at first seem.
