How the best financial planners create wealth and add value

By
June 1, 2022
Share this post

Article published by RJS Wealth Management Pty LtdHow does a financial advisor provide value? What are you missing out on if you don’t use one? Without a qualified financial planner, your future financial position may be below its potential and/or haphazard. Not to mention the possibility of leaving you and your family at risk of potential financial devastation. Without reliable advice, you may risk making financial decisions without proper research or due diligence. Without a sounding board for your questions you might panic when markets fall, or fail to recognise the risks of certain investments (just to mention a few). Quality financial advisors add more than just financial value. They offer you invaluable financial knowledge to help you make well-informed financial decisions, as well as creating a path, to provide greater potential for financial success and security in your financial future.[caption id="attachment_4487" align="alignnone" width="610"]

A good financial advisor adds more than just financial value. Source: Adobe stock

A good financial advisor adds more than just financial value. Source: Adobe stock[/caption]They listen to you and use the information wiselyZurich Financial Services commissioned a report by Dr Rebecca Sheils from Beddows Institute (which supports quality advisors and their clients) about the common traits of award winning financial advisors. Being a good listener was one of several consistent behaviours of all the short-listed advisers in the report. Those who were good listeners were credited with greater understanding of the needs of their clients1. It is only through connecting deeply with clients that an ideal tailored solution can be crafted.Another value that stood out was the ability to resist giving advice or offering solutions too soon, especially not in the information gathering phase of the relationship. Giving advice without hearing the client out properly was considered a poor trait by customers.They take you on a journeyA quality advisor begins your relationship by finding out as much as possible about your financial situation and your plans and dreams for the future. They then map the path from where you are now, to where you want to be and then where you could be. Next, they provide recommendations, tools and options to help increase the likeliness of you reaching your financial potential. They’re honest about your prospects of success. There are no promises of untold riches. You might even need to make some sacrifices for a desirable long term result.By being confident in showing you exactly what needs to be done, and handing you the tools creating greater potential to achieve it, a good advisor makes sure you feel success along the way. Celebrating not only the destination, but the milestones along the way.They build, maintain and value long term relationshipsGood quality financial advice adds value over the long term. A quality advisor will gain your trust and nurture their relationship with you1. The more information you’re willing to share about yourself, your goals, your tolerance of risk, your family and your hopes for retirement, the better they can assist you with targeted advice and solutions for your unique situation. Instead of short term fixes or investments that don’t suit your risk profile, a good adviser will stand by your side, leading you towards achieving your long-term plans.Plus, there’s nothing a good financial planner likes more than a new client who’s come to them via recommendation from a satisfied client. Valuable financial advice creates the potential for everyone to prosper2.[caption id="attachment_4488" align="aligncenter" width="610"]

Your financial advisor should share their knowledge with you. Source: Adobe Stock

Your financial advisor should share their knowledge with you. Source: Adobe Stock[/caption]They educate themselves and then they educate you (without making you feel stupid)Beyond their original qualification as a financial planner, the best advisors are on a continuous self-education regime, keeping up with every aspect of their job so they can continue to give high value, quality advice to their clients. This could include the latest on financial goal setting theories, financial markets, products and investment vehicles, tax rulings, strategies and legislation.Your advisor should be completely willing and able to share their knowledge with you. If you’ve been with an advisor for 5 years and know nothing more about investment options and interest rates than when you started, they’re not adding value3.You should never be reluctant to ask questions or challenge an idea. A good advisor understands that you’re safeguarding your future and need to be confident about your decisions. You should leave their offices feeling informed, satisfied and optimistic about your financial future, not baffled with…well, you know.It’s simple, good financial advice makes THE differenceSo, what’s the value of financial advice? Done well, financial advice gives you security, choice and ultimately, greater potential for financial success. Done well, financial advice also makes you feel empowered, because knowing you may reach your financial goals and maybe even more is a relief. And the feeling that someone’s always on your side, looking out for your best financial interests, is the kind of peace of mind only a professional financial advisor can give.RJS Wealth Mangement has been giving exceptional financial advice to satisfied, prosperous clients for over 3 decades. Let us add value to your financial future. Call us on 1300 256 526.Over to youDo you know a value adding financial advisor? Or have you been burnt by the other kind? Let us know in the comments.Source:1. Zurich Financial Services: Money Management – How advisors can build valuable relationships with clients2. Investopedia 2013 – How to be a top financial advisor3. Pete the planner – 5 Qualities that make a great financial advisorThis blog has been prepared by RJS Wealth Management Pty. Ltd. ABN 24 156 207 126. RJS Wealth Management Pty. Ltd. is a Corporate Authorised Representative (No. 438158) of Modoras Pty. Ltd. ABN 86 068 034 908 an Australian Financial Services and Credit Licensee (Number 233209). The information and opinions contained in this blog is general information only and is not intended to represent specific personal advice (Accounting, taxation, financial, insurance or credit). No individuals personal circumstances have been taken into consideration for the preparation of this material. Any individual making a decision to buy, sell or hold any particular financial product should make their own assessment taking into account their own particular circumstances. The information and opinions herein do not constitute any recommendation to purchase, sell or hold any particular financial product. Modoras Pty Ltd recommends that no financial product or financial service be acquired or disposed of or financial strategy adopted without you first obtaining professional personal financial advice suitable and appropriate to your own personal needs, objectives, goals and circumstances. Information, forecasts and opinions contained in this fact sheet can change without notice. Modoras Pty. Ltd. does not guarantee the accuracy of the information at any particular time. Although care has been exercised in compiling the information contained within, Modoras Pty. Ltd. does not warrant that the articles within are free from errors, inaccuracies or omissions. To the extent permissible by law, neither Modoras Pty. Ltd. nor its employees, representatives or agents (including associated and affiliated companies) accept liability for loss or damages incurred as a result of a person acting in reliance of this publication.

June 1, 2022

stay in touch

Enter your email below to receive
our latest resources and tips.

By clicking Sign Up you're confirming that you agree with our Terms and Conditions.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Contact us

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.