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Mike Coady was appointed Chief Executive Officer of swissglobal in 2018, a position to which he brings a strong financial background and experience across a variety of roles. Mike is a skilled business strategy and growth leader, coach and motivator. He is a people’s person known for his ability to inspire teams towards excellence. He mentors his people and departments to transform their passion into outstanding results and long-lasting relationships with their clients.

The role of a financial adviser in disturbing their clients

Mike CoadyGeneral The role of a financial adviser in disturbing their clients
Financial Adviser

The role of a financial adviser in disturbing their clients

A financial adviser is a professional with the goal of helping others to improve their long-term financial outcome. That is, these individuals have the job of helping people to build and protect wealth that they hope to achieve in the long term. The role of a financial adviser is not just to do what the individual requests, but to guide them and spur them into taking important action to achieve the long term goals of the individual. In other words, as a financial adviser, it is critical to take steps to encourage clients to take steps to improve their financial outlook.

There are many times when a person will come to a financial adviser for expert advice and guidance believing they know what steps they need to take. For example, the individual may simply want to invest in specific shares or markets. The adviser has the goal, then, of not just investing in those markets, but also providing important, accurate advice on whether or not those markets are in fact the best decision for the individual. Every situation is very different, but every financial adviser has the goal of providing accurate information and advice that helps the individual achieve his or her goals.


Pointing out opportunities

One of the ways that an adviser can work to motivate his or her clients to take action is to show the client specific steps he or she can take to achieve a goal. For example, the individual may benefit from seeing a potential plan on paper that outlines what steps the individual has to take to achieve their ultimate goal. Instead of just providing a recommendation, show the individual the progress of certain stocks or strategies. By seeing it on paper, it is possible to motivate clients in the right manner.


Be frank about misunderstandings

Financial advisers sometimes need to be frank with their clients about the client’s situation. They need to be honest about what will work and what will not. If a client wants to retire by the age of 60 but does not want to take any of the often required more volatile investments to do that, the adviser may need to tell that person that his or her goals are simply not realistic. Though this may not be easy to do, it is often necessary in order to show the individual those goals are off track.

Another step to take is simply to show a different approach. For example, if your client is not working towards the right strategy or plan, point out a new plan that will help them to achieve their goal. By backing up the negative information with a solution can often encourage people to take action.


Good communication matters

It is also important to take the time to discuss areas of interest with the individual as needed. Having good levels of communication with a client is important no matter what the situation. Building trust can help to encourage the outcome the individual wants to achieve. Often times, just opening the lines of communication can offer some guidance and understanding.

A good financial adviser understands the needs of the client and is willing to work hard to achieve those goals. That means pointing out misunderstandings or pointing the client on the right path. This means taking an active role in the process of educating the client. We should all know that taking the time to work closely with clients can make a big difference in the outcome of any situation. ‘Disturbing’, or pushing clients, in the right direction can be well worth the hard work it takes to get to that point.

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Blog published by Mike Coady.

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