Adviser First: The Key to Happy Clients and a Successful Firm

Adviser First: The Key to Happy Clients and a Successful Firm

Financial advisory professionals as a rule can choose from two career paths: work for an established firm or go indie.

Select the former and you’ll enjoy strong back-office support and other resources, but you may feel uncomfortable with management setting your agenda. Working for yourself allows you just that: you’re the boss – but you’re also on the hook. If only there was a way to enjoy the best of both worlds. 

It seems the dream has come true: firms that want to establish best practice are now treating their advisers less as employees and more as independent operators working under their aegis. The company provides the framework of resources and support staff, while the adviser chooses clients, selects products and determines the timing of interaction with the firm’s various departments. This approach often attracts the best talent. 

Clients like this approach, as it suggests their adviser won’t be pressured to sell products that are perhaps good for the company, but less of a solid match for the customer. In this model, independence receives more than lip service.

A key element in the advisor-first model is free access for the advisory team. Hierarchies are no longer respected for form’s sake alone. If an adviser creates an interesting solution for a client, perhaps one that’s never been offered before, there’s nothing to inhibit her from going straight to the top for approval. Likewise, if information is needed about new products or services, no gatekeepers can block quick access to info. Speed is the key here to effective operations. 

Interestingly, this approach is good for senior management, as they now have access to solid information on the latest client demands and expectations, brought to them directly by the advisers. This information can be invaluable in developing marketing campaigns and determining the firm’s strategic direction. 

For more information, please read:
Advisor Empowerment Drives Success for Firms and Clients | Wealth Management

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