Over the years we have kept track of what clients have shared to be the most valued aspects of financial advice.
The relationship between a client and a financial advisor is often critical to how successful the monetary journey is. Through developing a good relationship, built on trust, advisors are able to understand their client's needs and goals better, resulting in a better outcome.
When your advisor can understand your goals, it is far easier to establish a bespoke plan and this helps ensure clients feel satisfied and secure about their future knowing their plan is helping them reach their goals.
One of the most valued aspects of financial planning is proactive and responsive communication. Clients place significant value on understanding the current status of their plan and how they are travelling in relation to their objectives, like ability to retire; longevity of funds; overall growth in their investments, as well as guidance on how to manage change to their advantage.
Trusted Team of Advisors
Clients have high expectations that they will be kept updated and that their advisor team are available and responsive when they need us. They want to continue to live their lives while knowing their financial plan is secure and steady without requiring their input.
Planning for their retirement is a high priority as they would like to know when they might be able to retire depending on their circumstances and future monetary decisions. Due to this client’s often require assistance to determine how different decisions could affect their retirement funds.
Interest In Their Own Journey
Being able to listen with intent is one of the most valuable skills a financial advisor can have. Clients place significant importance on advisors knowing their story and where they have come from. In doing this, advisors are able to make informed recommendations that consider and adjust for the short, medium and longer term journey of life.
The best advisors philosophy should revolve around asking revealing questions and then listening to their clients to gain true understanding of what they want out of life. Additionally, being honest and open with clients is essential. Clients always appreciate openness and honesty from advisors that want to be kept accountable.
Tailored Professional Advice
Fee for service advice, means clients can be confident they are paying for advice that is solely designed to support them in achieving their goals. Clients enjoy peace of mind; knowing that advice is in their best interests.
A specifically suited plan can make all the difference between positive and negative results, being able to adapt based on changing priorities from clients; adjusting for legislative changes; and changing investment market movements. It is essential that your advisor has the experience and systems to do this constantly, if they are to provide tailored professional advice.
To be Able to Feel Confident in the Future – by Having an Adaptive Financial Plan
Clients feel the most confident when they are updated about all the shifting parts of their plan, whether it's government announcements, RBA announcements, or anything that may change their plan, you need your advisor to be there to inform you, to feel secure about your future. When something changes, an advisor needs to be there to ensure their financial plan supports the change.
- Our investment advice acts as one of the main benefits to our clients, as it is tailored to their needs and what they ultimately want to receive from the relationship.
- With fluctuating markets clients will often feel uneasy or unsure about their investments, which is why our tailored investment advice is so warmly accepted. With being able to choose their risk levels depending on market situations, allows clients to know they money is secure and safe at the end of the day.
At Yield, we were one of the earliest adopters of fee for service investment advice, rebating investment commissions since 2006. Well before it became mandatory for advisors in 2013. We place high importance on each of these points raised and have been asking for and listening to our clients feedback, which reflects that these are the areas we excel in and that they value.
If you are seeking an ongoing relationship that means you can pick up the phone any time and speak to us, and one where your advisor is also proactively in touch with you, then Yield Financial Planning is well placed to assist.