Scrutiny, regulatory changes and constant vigilance: it’s been a dark, gloomy cloud that has stalked advisers for what seems like an eternity. It has been a drain.
However, this scrutiny has built character. We have learned from this difficult environment and have become battle-hardened. There is now a stronger sense of direction and purpose.
Despite the ever-present promise of change, the industry keeps moving forward. We get busier, provide more advice, see more people and our influence continues to grow.
We’ve become chameleons; we’re psychologists, educators, the superglue in relationships, the referrer for various needs and the guide for the future. We protect families, assets, businesses, and incomes. We navigate through crashes and celebrate personal achievements. We connect deeply with our clients.
We are the trusted advisers.
It’s a big job, and one we don’t take for granted. We do it because we want the best for people. Is there a better feeling than receiving a referral from an existing client? To me, that’s the ultimate level of trust achieved.
This organic referral source gets bigger over time as clients become more educated and trust evolves. And it doesn’t just benefit one adviser – it benefits the whole industry.
For example, I had an existing client meeting recently. This client is very successful in his own right; he started his career in accounting and moved into M&A with a large global company. He told me he’s been guiding his son to take an opportunity in the financial planning industry, as he believes it’s a great industry that offers a very diverse set of skills, all of which are required for a successful career.
If our own clients are recommending that their children seek opportunities in our industry, that’s a clear sign we’re a respected profession. We are becoming the preferred centre of their world.
Of course, the work isn’t done yet. What do we need to keep doing? How do we lift the level of trust further and inspire a new generation to step into our shoes and push the profession forward?
There is a clear group of advisers with growing influence. They’re getting noticed by providing quality insights, and their growing audiences demonstrate shows that they’re connecting with people.
We need these voices – in fact, we need way more of them. And, of course, we need to continue providing quality advice, putting the client ahead of ourselves and always adding value. This is a long-term game with long-term rewards.
Advisely Contributor