Olivia Geldenhuys, PortfolioMetrix Head of Support, Europe
Trust – the cornerstone of financial advice
There’s a quote that says, “Trust takes years to build, seconds to break, and forever to repair”. This is nowhere truer than in the financial world, where a person’s quality of life relies on decisions made by the experts in whom they place their trust.
As a financial adviser, your ability to build trust translates into composed clients and is the foundation upon which you grow your business. It’s useful to recognise the behavioural traits that underpin trust. Over the last seven years in my role at PortfolioMetrix, I have worked with top IFAs to understand how they succeed in their business. I have observed their approach to client relationships and in turn have learnt how to develop my own relationships with them.
From my experience, I have identified four key elements that appear to be essential to establishing trust: authenticity, competency, consistency and empathy. These elements govern the confidence clients have in the financial planning ecosystem.
Authenticity is at the heart of building trust. It’s one thing to claim a value proposition, but does your business behaviour stand up to this under scrutiny? Your clients will not simply take what you say at face value but...