Advice for life

There is no algorithm for trust.

It's built by advisors like you.

Get your toolkit

There is no algorithm for trust.

It's built by advisors like you.

Get your toolkit

Your advice is the future.

Technological innovation and changing Client expectations are disrupting the advisor business. Robo-advisors and chatbots are on the rise, and Clients can now get answers to their questions without any human interaction.

But the human-to-human advice you give is irreplaceable. You go beyond the facts and figures to uncover what matters most to Clients. With trust and empathy at the centre of all you do.

Discover how to tell a more holistic story about the value of advice. Use every touchpoint as an opportunity to build trust and deepen Client relationships. 

Advice begins and ends with trust

A good advisor asks their Clients very deep questions about their goals, dreams and desires. Translating this intimate knowledge into the decisions that need to be made makes financial advice priceless.

- Wayne Miller, AVP Marketing and Business Development, Sun Life

Are you telling a holistic story about the value of your advice? Are you using these moments of truth to deepen Client relationships? Each touchpoint, from discovery to stewardship, allows you to connect with Clients and showcase your value. 

Give Clients a view into the journey you’re embarking on together and what they can expect when working with an advisor by sharing The advice journey resource. 

Take it a step further by walking Clients through a visual illustration of your unique Client Engagement Process. This gives insight into all the work that goes on behind the scenes. The more Clients understand the details of what you do for them, the more they’ll appreciate your value.

Discovery

Plan

Recommend

Implement

Stewardship

Goals & dreams

Concerns & fears

Income

Health

Family dynamics

Assets & insurance

Debts

Risk tolerance

Time horizon

Wills & POA

Cash flows

Asset growth

Debt repayment

Tax planning

Decumulation

Intergenerational

Philanthropy

Scenario testing

Will

Trusts

Investments

Insurance

Ownership

Beneficiaries

Prenuptial agreement

COI referrals

Product selection

Application

Underwriting

Issue

Reporting

Maintenance

Education

Family conversations

Relationships

Children

Legacy & values

Budgeting

Major purchases

Illness in the family

Aging & incapacity

Mental health

Death in family

Are you ready to build trust on a human level and uncover what Clients value most? It starts at Discovery. A guide to deeper Client discovery shares how to set the tone in meetings, set expectations with Clients and conduct a deeper Client discovery, to get to the heart of what really matters.

While traditional finance assumes that investors are rational and can process all information unbiased, behavioral finance recognizes that people often make financial decisions based on emotion and behavioural biases. In fact, 90% of financial decisions are made on emotion.1

We all have strong ingrained biases that exist deep within our psyche. While they can serve us well in our day-to-day lives, they can have the opposite effect with investing. As a result, advisors find themselves spending a lot of their time trying to minimize Clients’ behavioural mistakes, especially during times of uncertainty.

For many Clients, there is a gap between what they know they should do and their behaviors – what they actually do. As an advisor, you stand between Clients and a potentially big mistake.

Advisors who can combine their technical expertise with an understanding of behavioral finance offer a very valuable combination of skills. Research shows that addressing the investment behavior of Clients may be the greatest value you can provide.

By helping Clients overcome investor biases, you can reduce short-term and/or emotional decision making and keep Clients invested during times of volatility, all while strengthening trust and deepening the relationship.

1Prospect Theory of Decision Making, Daniel Kahneman

Get the toolkit to help build trust and show Clients the lifelong benefits of your advice.

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