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
Read More
If you enjoyed this post, we recommend the following as additional reading.
The Wealthy Woman’s Guide to Financial Freedom (That Has Nothing To Do With Numbers)
You’ve been told you’re financially secure. So why doesn’t it feel that way? Your financial planner has reassured you. Your balance sheet looks solid. Your investments are diversified. By all accounts, you should feel completely at ease with money. But instead, you feel uneasy, uncertain, and maybe even afraid. If this resonates, you’re not alone.…
How do you choose a financial adviser?
The majority of my clients are females going through divorce,and their husband has dealt with all the finances during the period of their marriage. Therefore when they are faced with having to find an adviser it’s a really difficult process for them to go through. Choosing the right financial adviser to help you plan your…
Review your mortgage regularly
For most of us, our mortgage is the biggest financial commitment we have throughout our life. Given that it provides the security of a roof over our head, it is also one of the most important. As the largest commitment, it is crucial that you get it right, and get the most competitive rate available…