FROM THE BLOG
Going the Extra Mile: Defining Your Value Proposition as an Advisor
Posted by Prospera Financial on August 20, 2024
Recently an advisor shared a story with me that reminded me of the true value of strong client relationships. For illustration purposes, we will call the advisor Alex, and the client Susan.
One morning, Alex received a frantic call from his client, Susan, who had discovered that a substantial amount of money had been stolen from her bank account. Recognizing the gravity of the situation, Alex immediately cleared his schedule. Despite a packed agenda, he knew Susan needed his help.
Alex accompanied Susan to her bank, where they spent hours working with the fraud department to investigate the theft and secure her accounts. He then guided her through the process of filing a police report, ensuring every detail was accurately documented.
At the end of the day, Susan thanked Alex for his support in this stressful situation. She told Alex she didn’t know what she would have done without his help. Although Alex didn’t have any direct involvement with the affected accounts, his actions demonstrated that the value of an advisor extends far beyond asset management.
This story illustrates several key points about defining your value proposition as an advisor:
1. Client-Centric Service: Prioritize your clients’ well-being in all aspects of their financial lives, not just their investments. Show that you are there for them in times of crisis.
2. Comprehensive Support: Offer support and guidance through unforeseen challenges. Providing your clients stability and expertise, even in areas outside your typical advisory scope.
3. Trust and Reliability: Build trust through consistent, reliable actions. Your clients need to know they can depend on you in any situation.
4. Proactive Engagement: Stay proactive in addressing your clients’ needs. Whether it’s clearing your schedule to assist with an emergency or following up with additional resources, demonstrate your commitment to helping them solve problems.
5. Value of Relationships: Cultivate strong, personal relationships with your clients. The depth of the advisor-client relationship is crucial. When clients feel genuinely cared for, it enhances their trust and loyalty.
By embodying these principles, you not only help your clients navigate difficult situations but also solidify your value proposition as an advisor who goes above and beyond. It’s this unwavering dedication and the strength of the advisor-client relationship that truly define exceptional client service.
Happy planning!
Carolyn Sterling, CFP®
Director of Practice Management
