What makes your client experience unique?

When you’re choosing a financial adviser it can be very difficult to differentiate between the services offered by the different advisers you meet. Particularly if this is an area you have little or no experience of, and where you may be lacking confidence.

A really interesting question to ask your adviser is “What makes your client experience unique?” See whether the adviser does believe they are offering a service that sets them apart from other advisers. If you asked the adviser “Why should I work with you, rather than someone else?” you would expect them to be able to answer this. If your adviser can’t answer this question, do consider whether they are the right adviser for you. One can only assume that the service they offer is not very special for their clients!

Another interesting question to ask the adviser is to ask them to explain a financial planning concept to you. What’s important is to see whether you can understand their explanation. Can they speak to you in down to earth language that you can understand? Or is their explanation too full of jargon so that you are more confused after the discussion?

You need someone who can explain financial concepts in a language that’s right for you. You do not necessary need to understand the details but you do need to understand the basics enough to be confident that the advice given is correct for you. No matter how technically brilliant the adviser may be, if they can’t explain things to you in a down to earth manner, your financial plan may be technically perfect, but of limited practical use.

Spend as much time as possible at your initial meeting asking these sorts of questions. You will get a good feel for how the adviser deals with your queries, and how well they can communicate with you.

If you are looking to engage a financial adviser and would like to see if we are right for each other,please contact me on 07801 964949.

photo credit: flickr/Romel

Mary Waring

Mary Waring is a Chartered Accountant, Chartered Financial Planner and Money Mindset Coach, helping women transform their relationship with money so that they can become free and powerful. She is also the bestselling author of "The Wealthy Woman: A Man is Not a Financial Plan."

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