How we establish long-term value for our clients

Valuable advice is made up of different factors. Asking the deeper questions, applying appropriate advice, and following up ensures advisers can deliver what everyone desires: health, happiness, stability.

Generate trust

We build trust by showing we care about our client’s outcomes. When we meet a client for the first time we start with a ‘clean sheet’. We don’t jump to conclusions or make any assumptions. We have found that trust gets built over time.

Take a team-wide approach

We make sure we have a very clear process of how we collect client information (including advice and outcomes maps), which we can make available to the rest of the team. With the whole team in the process, anyone in our business can quickly get across all the client’s issues and complexities. They get quite connected to the client very quickly, and the advice can go beyond just adviser or associate adviser. That team approach is very, important because not one individual is an expert in everything.

Focus on meaningful goals and outcomes

We don’t mistake tasks for advice. Simply managing investments is a task, not financial advice. The real advice is taking the time to have important conversations with people. We ask deeper questions. The value of a true adviser is someone who can say, “Okay that’s interesting. Tell me a bit more about that. What is important about that to you?”

Then taking the time to really get down to the guts of the matter, and then framing your advice, not just listening.”

Establish openness

We get both parties involved. For some couples, a meeting with us is the first time they had heard the other speak openly about their financial situation. It can be a trigger for them to go away and actually have some conversations on their own about what they wanted to do and how. For the first time, both partners get a full understanding of their financial life.

Be accountable

Often for clients, if someone is not prompting them and it’s not an area they want to get involved in, most people will ignore it. We prompt our clients by saying ‘You said we were going to do this – where’s that data?’ Part of our job is to continue prompting, so they can see the progress that gets made throughout the year. We keep re-engaging with clients as things change, we don’t make assumptions about where clients are at. If you’re only seeing a client every 6 or 12-months, there can be massive changes in their life. As long as there’s a process within the business to re-engage that we all follow, it’s not a problem.

 

If you would like to know more about how we establish long-term value estate please contact me melody@evalesco.com.au

I see my role as a financial adviser as a project manager and financial coach. It starts with helping clients articulate their vision of their future and success, understanding their challenges and complexities and their starting point.