In this post, we will examine the foundational traits required to become a successful Financial Advisor. These characteristics should be the primary focus before exploring the technical aspects of rendering financial advice. For ease of reading, I will present in point format.
Curious
Asking questions is key to being a successful Financial Advisor.
Being curious enables you to learn about the client’s circumstances.
Having an overview of your client’s personal circumstances can help you to furnish the client with holistic advice and fosters a relationship of trust.
Analytical
An analytical thinker is a person driven by curiosity to get to the bottom of things and solve a problem or find an answer.
Analytical thinkers don’t assume anything about the problem at hand; instead, they begin by questioning everything about the issue.
Problem solving is a vital skill required in rendering financial advice thus being able to think analytically can distinguish you from other Financial Advisors.
Fiduciary
What is the meaning of fiduciary relationship?
A relationship in which one party places special trust, confidence, and reliance in and is influenced by another who has a fiduciary duty to act for the benefit of the party. — called also confidential relationship, fiduciary relation.
Remember that you are working with your client’s money therefore trust is the basis of the relationship.
Professional
This means being engaged in one of the learned professions.
It is characterized by conforming to the technical or ethical standards of a profession, exhibiting a courteous, conscientious, and generally business-like manner in the workplace.
Passionate
A passionate person has very strong feelings about a topic or project.
Passion for helping others solve their financial challenges is paramount to being a strong Financial Advisor.
Calm
Not showing or feeling nervousness, anger, or other strong emotions.
Calmness promotes clearer thinking and communication.
When you are calm, you will ensure that your client feels calm as well.
Conscientious
Being conscientious means being industrious and orderly, and aiming to do a job well.
It is the most reliable predictor that you’ll perform better, earn a higher salary, and be healthier than less dutiful co-workers
Personable
This entails having a pleasant appearance and manner.
First impressions can set the tone for a relationship thus being well presented and acting in a friendly manner is essential.