How To Give Financial Advice That People Will Follow: The Ultimate Guide

When it comes to personal finances, everyone needs a little guidance now and then. Whether you're just starting to budget or you're looking to make a major investment, getting advice from a qualified financial advisor can help you make the right decisions and reach your financial goals faster.

Advice That Sticks: How to give financial advice that people will follow

by Kate Kelly

4.4 out of 5

Language	:	English
File size	:	1034 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	220 pages
Lending	:	Enabled

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However, giving financial advice is not as simple as just telling someone what to do with their money. In order for people to actually follow your advice, you need to build trust, understand their needs, and provide actionable recommendations that they can realistically achieve.

Building Trust

The first step to giving financial advice that people will follow is to build trust. This means being honest, transparent, and ethical in all of your dealings with clients. You should also be patient and understanding, and take the time to listen to your clients' concerns and goals.

Here are a few tips for building trust with clients:

• Be honest and transparent about your qualifications and experience.
• Be patient and understanding, and take the time to listen to your clients' concerns and goals.
• Put your clients' interests first, and always recommend what is best for them, even if it means sacrificing your own commission.
• Be available to answer your clients' questions and concerns, even after you've provided your initial advice.

Understanding Client Needs

Once you've built trust with your clients, the next step is to understand their needs. This means taking the time to get to know them, their financial situation, and their goals.

Here are a few questions you should ask your clients to help you understand their needs:

• What are your financial goals (e.g., buying a house, retiring early, paying for your children's education)?
• What is your current financial situation (e.g., income, expenses, assets, debts)?
• What are your risk tolerance and investment horizon?
• What are your concerns about your financial future?

Providing Actionable Recommendations

Once you understand your clients' needs, you can start to provide actionable recommendations. These recommendations should be specific, realistic, and achievable.

Here are a few tips for providing actionable recommendations:

• Make your recommendations specific and easy to understand.
• Break down your recommendations into small, manageable steps.
• Set realistic goals and timeframes for achieving your recommendations.
• Provide your clients with resources and support to help them implement your recommendations.

Following Up

Once you've provided your clients with financial advice, it's important to follow up with them regularly to see how they're ng and to make sure they're on track to reach their goals.

Here are a few ways to follow up with your clients:

• Schedule regular check-in appointments to discuss their progress and make any necessary adjustments to their plan.
• Send your clients periodic email updates with financial planning tips and advice.
• Be available to answer your clients' questions and concerns, even after you've provided your initial advice.

Giving financial advice that people will follow is not an easy task, but it is possible. By building trust, understanding client needs, and providing actionable recommendations, you can help your clients achieve their financial goals and live a more prosperous life.

Advice That Sticks: How to give financial advice that people will follow

by Kate Kelly

4.4 out of 5

Language	:	English
File size	:	1034 KB
Text-to-Speech	:	Enabled
Screen Reader	:	Supported
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	220 pages
Lending	:	Enabled

FREE