Charlotte Richards gets the answers from those inside the industry…
There are certain things clients will expect from their trusty adviser; excellent technical knowledge and a desire to do the best job possible are perhaps two of the more obvious.
But in a world of increased regulation and fees, these qualities may no longer be sufficient.
Clients will expect more. We ask seven practitioners for their opinions on what makes the perfect adviser.
What makes a good adviser?
David Williams, managing director, Jones Sheridan
“A good adviser is proactive at building relationships and focused on keeping the lines of communication open. Fundamental to any successful adviser/client relationship is trust and this is built-up over a long period of time.
"You should connect with your clients between 10 and 12 times per year and I think this is a useful benchmark for any good IFA. We use a variety of ‘touch points’ including one-to-one reviews, telephone calls, a monthly eNewsletter and client events.
"Professional qualifications are also important because they reflect the adviser’s experience and professionalism. Industry recognised certification such as certified financial planner/level 4 status is a good example of this.”
Stuart Fowler, director, Fowler Drew Limited
“We all know what should make a difference to clients’ lives, but to find out what actually made a difference we hired a research firm in 2010 to survey all clients anonymously. What emerged loud and clear was ‘peace of mind’ – which read across to phrases like ‘confidence’ and ‘composure’.
"To be able to achieve this and alter people’s experience in a world full of uncertainty takes highly convincing planning. The adviser has to become more convinced to take more risk than they were previously.
"I have no doubt this conviction comes from an adviser’s investment expertise and I totally reject the notion that good financial planning can be done without real
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First mentioned in Cridland Report
Second acquisition of 2019