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Why financial planning clients are paying for leadership

Why do clients seek out professional help from a financial planner or adviser?

Specific reasons are many, but fundamentally it comes down to only two things:

1. They have a problem to solve

2. They want to feel better 

This is how value is created and this article explores leadership as a core factor in this process.

People are drowning in information

The world we live in is extremely complex and the amount of information coming at us can be overwhelming.

So, how do we sort the wheat from the chaff?

A professional relationship is what cuts through all of this. For example, if you use the services of a financial planner, personal trainer, lawyer, accountant, or any kind of professional isn’t this to help you cut through all the noise?

One of the greatest values you can create is helping your client have less on their mind. 

Why? 

Because none of us want to be thinking about our problems. We want to feel confident they are being taken care of so we can enjoy our life.

Yet some professionals, without realising what they are doing, make clients feel worse. 

What do financial planning clients really want?

Someone I know recently shared an experience she had a with a medical doctor.

Her young son had hurt his shoulder playing sports at school. It was enough for her to take him to a doctor for treatment.

After examining the injury, the doctor offered up several courses of action. The mother asked which one specifically she should follow but the doctor was very noncommittal and expected her to make the decisions.

What she wanted was leadership from a professional who was clear on the course of action that needed to be taken. But what she got was a load more stress she did not want or need.

She ended up taking her son to another doctor.

In the context of financial planning leadership relaxes a client. In other words, it helps to take a lot of thinking off their mind. 

And ultimately isn’t this what people are paying for?

Effective leadership is not just about skills

An enormous amount of information is available on leadership (over 60 thousand books on Amazon). And much of the advice on offer is prescriptive, ‘how-to’s’, and focuses on skills.

This stuff sells by the barrow load. But the reality is that this kind of information falls short of the promise because it misunderstands where the power comes from.   

Jamie Smart wrote in his book, ‘Clarity‘:

“Most leadership books and programmes make a valiant effort to help people master the symptoms of leadership; behaviours, skills, and attitudes, modelled from successful leaders (some extremely successful).

Unfortunately, acting like you have the symptoms of leadership is difficult and unconvincing, because symptoms aren’t what’s doing the “heavy lifting.”

What is doing the heavy lifting?

In ‘Invisible Power‘ by Robin Charbit, Ken Manning, and Sandra Krot they are writing about the same understanding of human psychology as Jamie. They point out:

“Leadership is an innate characteristic built into your design for success. Clarity and confidence are at its core. When you are balanced and feeling at home in yourself, it is easy to see with perspective, and your insights move you to respond intelligently in ways that are productive for you and others.”

So, leadership is a natural quality when our mind is free and present. From this place we will clearly see the times and opportunities when taking the lead is appropriate, necessary, and valuable.

PS. Another aspect of powerful leadership that creates value for your clients is creating agreement. Click here to find out more.

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John Dashfield spent 14 years as a self-employed adviser. Since 2006 he has been a coach, mentor and author helping advisers create transformations in their business and personal lives.

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John Dashfield spent 14 years as a self-employed adviser. Since 2006 he has been a coach, mentor and author helping advisers create transformations in their business and personal lives.

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