Is technical ability a guarantee of a successful and prosperous career as a financial planner?
The answer is ‘no’ because being a successful practitioner is just as much about people as it is a technical role.
So, in this article I am looking at my top ten essential inter-personal skills for financial planners.
I would also add that whilst I am calling these skills, they are far more than just learned behaviours. They are deeply rooted in your state of being and cannot be faked.
1. Building deep rapport
Genie Laborde, author of ‘Influencing with Integrity‘ said:
“Without rapport, you will not get what you want-not money, not promotions, not friends. You may not even be able to get a letter typed correctly unless you do it yourself. Rapport is like money; it increases in importance when you do not have it, and when you do have it, a lot of opportunities appear.”
Deep rapport is when we connect beyond our personal mind and at the level of spirit. It is essential in creating an environment where your clients can relax and do their best thinking.
2. Creating complete trust
In a world where trust is in short supply, creating complete trust is the only way you can get consistent results. Complete trust is energetically conveyed through your inner stance. People will trust you completely when you are being that level of trust, all the time with no exception.
3. Speaking in a language the client understands
If advisers use industry jargon when communicating with clients, this will often lower the tone of a conversation and compromise trust.
Clients want you to speak to them in a language they can easily understand and makes sense to them.
4. Dealing with role reversal
Role reversal is when a client or potential attempts to set the terms of the relationship (including your fees). The problem, if you capitulate, is that the relationship is now one where you are subservient to the client.
This does not serve the client or you. You are professional person, so you set the terms of the relationship.
5. Creating agreements
This is one of the skills for financial planners that is usually overlooked. Most relationships are based upon expectations, which are toxic and often lead to disappointment. Without agreements things are often left unsaid and undone and, in turn, it lowers the quality of the relationship.
The first conversation I have with a new client is co-creating agreements about how we show up in our relationship. This adds significant value because it increases the level of commitment and creates better outcomes.
6. Being your word
As a generalisation people are far too casual about giving their word and then go on to break it. How often do you experience people giving you their word and then not following through?
Being a person whose word can absolutely be counted upon makes you stand out. Read more about this topic.
7. Taking a stand for your client
This is being willing (with permission) to call your client out. For instance, many, if not all, clients will have some bad ideas. They will have behaviours that are out of line with what they say they want.
Unless you call them out, they will be sabotaging their success. So, it is an act of service to make their erroneous thinking and behaviour visible to them.
8. Walking away from the wrong client
If you watch a wildlife documentary of a big cat chasing its prey, you will notice that the cat knows when to give up. It knows when something is a lost cause and when the expenditure of energy no longer matches the gain.
You will meet some people who will not make good clients. Do not let your ego keep you in the chase. Your energy is best spent on finding the right clients to work with.
9. Dealing with rejection
The only way we can feel rejection is when we are personally invested in an outcome going our way. You can feel rejected, but you cannot be rejected.
Coach Steve Chandler says, “yes” lives in the land of “no”. In other words, to expect that all you will ever hear is a “yes” is completely unrealistic. Hearing “no” is not rejection. It is just information.
10. Deep listening
Learning to listen with nothing on your mind is one of the most important skills for financial planners that will differentiate you in your profession. To listen in this way takes commitment, higher self-awareness, and practice.
Ten essential inter-personal skills for financial planners
Each of these skills will add to your success as a financial planner. To make genuine progress pick just one, evaluate where you are now (on a scale of 1 – 10 is useful), and focus for one week. Then measure again and keep repeating.
PS. If you want to make even more progress send me an email at john@clientcentredadvisers.com to set up an initial conversation.
