Marshall Goldsmith, one of the world’s most successful executive coaches, inspired the list below of 20 bad financial adviser inter-personal habits.
Discover what they are and you can level-up your inter-personal skills to ensure you’re working as a professional who has your clients’ best interests at heart.
I love the title of Marshall’s book, ‘What got you here won’t get you there,’ within which he points out that what gets us to our current level of success will not get us to the next level.
For financial planners and advisers, it is rarely a lack of technical knowledge that holds them back from their next level of success. It is far more likely to be inter-personal skills.
As an example, I used to be uncomfortable with silence in a conversation and would break it, but with the help of my coach, I began to see what I was doing and was able to turn a bad habit into a strength. This has helped me, my clients and my business.
I invite you to explore the list below and see if you recognise any of these habits in you, and use what you’ve discovered to improve your inter-personal skills.
1. Talking too much: The need to dominate the conversation.
2. Not listening: Being more interested in our own thoughts, feelings, and personal agenda than in our client.
3. Making assumptions: Making up that we know what is going on with our client.
4. Failing to emotionally engage a client: A left-brained, logical approach will be disengaging for most people.
5. Trying to prove our worth: Attempting to make a favourable impression for our own gain.
6. Only talking about the money: Failing to discover and create the deeper context for financial advice.
7. Solving problems too quickly: Often leads to solving the wrong problem.
8. People pleasing: Avoiding ‘difficult’ but necessary conversations.
9. Giving too much information: Believing that more is better but this will often overwhelm people.
10. Trying to convince, persuade, or entice a client: We want the outcome more than our client does.
11. Cutting into conversations with no, but, or however: Instantly negates what someone has just said.
12. Attachment to outcome: Making the outcome about us and our perceived needs.
13. Using industry jargon: Easy for us to understand but confusing and difficult for a client.
14. Failing to nail down commitment with a client: Reduces buy-in and the take up of the advice provided.
15. Being uncomfortable with silence: The need to break a silence can stop someone realising something important.
16. Allowing role reversal: When we allow a client to dictate the terms of our relationship.
17. Talking at clients: Delivering a monologue with no consideration for the other person.
18. Pitching to a client: Self-oriented and premature attempt to sell to a client.
19. Failure to lead: Puts more work on the client and encourages indecision.
20. Failing to acknowledge clients: Recognition is highly encouraging for people and makes them feel good.
Awareness offers an opportunity for growth and improvement of your inter-personal skills
Bringing something into your awareness gives you the opportunity to begin making changes and by addressing just one habit and committing to change, you can significantly enhance your effectiveness and client satisfaction. Elevating your inter-personal skills is not only essential for your professional advancement, but also for creating meaningful and lasting impact in clients’ lives.
So, pick one habit to change. It often does not require much to begin making a big difference – just a commitment and paying attention.
For even more guidance on being present to your clients, you can visit my previous blog post ‘Top Ten Essential Inter-Personal Skills for Financial Planners.’
PS. If you would like help please message me at john@clientcentredadvisers.com
