There are few topics more personal than someone’s finances. Money determines the way someone is able to live their life, and the various experiences, issues and successes they have with it can impact not only what they do but also who they are. Accepting guidance and advice on how to best handle money can be a big ask, so building trust as an adviser and/or financial services expert is essential if you want to succeed in this career path.
But building this type of deep trust doesn’t happen right away; it must be earned, and the best advisers know what it takes to do so. Here, nine members of Kiplinger Advisor Collective share their best advice for building a trusting relationship with a client and how doing so will enhance your credibility and success in the financial industry.
Turn listening into an art form
“Building trust requires you to develop thoughtful questioning and intense listening into an art form to encourage true connection with a client who feels validated and understood. Listening is hard work, but it’s a superpower for advisers — one set up by gently asking engaging questions and demonstrating you care and will pay attention to them.” — Bill Hortz, Institute for Innovation Development
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Underpromise and overdeliver
“Always avoid creating overhyped expectations. Instead, try to deliver oversized returns. That is just human nature. If they keep feeling good about you instead of getting disappointed, they will keep you on board.” — Zain Jaffer, Zain Ventures
Align your actions with your words
“Trust is built through actions, not just promises. By consistently 'walking the talk,' you demonstrate reliability and integrity. When clients see your commitment in action — whether through communicating transparently, delivering results or prioritizing their needs — they’re more likely to trust you. Actions that align with words create a foundation of trust and credibility in any relationship.” — Dr. Clemen Chiang, Spiking
Excel at what you do
“If you want to build trust, don't try so hard. Your best clients have wealth to invest because they didn't fall for smooth talk and easy smiles. They want accurate projections, measurable results and personal responsibility. In other words, consider yourself one of their trusted senior managers. You've got the job as long as you deliver. Stop lobbying for it and just excel at it.” — Howard Dvorkin, Debt.com
Kiplinger Advisor Collective is the premier criteria-based professional organization for personal finance advisors, managers, and executives. Learn more >
Focus on the problem the client is trying to solve
“Trust begins by looking at the problem from the client's point of view, not your own. We often say on Stacking Benjamins that if an adviser leads with product, not process, you should run. It's impossible to lead with process if you don't know the end goal. That's why great advisers begin by asking, ‘What are you trying to solve?’” — Joe Saul-Sehy, Stacking Benjamins
Get to know your clients as people
“First, get to know your clients as people by learning about both their financial and non-financial goals and needs. Listen more than you talk. Focus on finding the best solution for those goals. If another expert can better assist, either refer them there or collaborate as appropriate.” — John Goralka, The Goralka Law Firm
Prioritize transparency
“To build trust with clients, prioritize transparency, active listening and reliable delivery. Clearly explain risks, fees and strategies, focusing on clients’ individual goals rather than promoting specific products. By truly understanding their needs, you create a strong foundation of trust and credibility.” — Amrita Choudhary, Wasabi Technologies
Understand that everyone has different experiences
“Always try to remember where the client is coming from. We all have different experiences, both in finances and in life. Don't be too quick to judge, and acknowledge their concerns and their views. At the end of the day, like Warren Buffett once said, there are multiple ways to get to investment heaven.” — Michael Gainor, Wells Fargo Advisors
Be truly invested in them and their story
“Practice active listening. In financial advising, clients come to you with personal goals, worries and sometimes complex financial histories. By truly listening — giving them your full attention, asking thoughtful questions and acknowledging their concerns — you show that you’re genuinely invested in understanding their unique situation.” — Bob Chitrathorn, Wealth Planning By Bob Chitrathorn of Simplified Wealth Management
Related Content
- Six Questions Your Financial Adviser Should be Asking
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- Eight Times You Should Contact Your Financial Adviser
- How to Find a Financial Adviser
Disclaimer
The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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