Planning With Your Financial Peers

Anne Marie Hamilton: Well, in 2022, what we really learned about providing financial advice is the importance of the human element to it. With the unstable markets, we find a lot of our members are looking for advice, support, to really listen to them. One of my financial advisors actually said that empathy, tone, and quick responses to clients and members has been really more important than a deep technical analysis.

Avi K. Pai: In 2022, again, there was a lot of clients that since the markets were not really cooperative and not as fun to talk about, clients wanted to focus on other areas of their financial plan. And so in 2023, I feel that we're going to continue to explore more areas and make sure that we're answering every single part of a client's financial life because that's where they see our true value.

Bryan Neill: Communication definitely works. So the more I communicate, the more I let people know what's happening, and the more I'm in tune with my clients, I feel like the better response I have, and the more in tune I am with my clients and the more they trust that I'm giving them the right edge.

Kate Clark: In 2022, I think the most important takeaway of what we learned about giving advice to clients is that it's no secret, we are on the precipice of a very difficult time with the markets and the economy, and I think sometimes as advisors, we tend to go back to the jargon that we speak or refer to things really at that more complex technical level. Whereas the client really just wants reassurance and they have chosen us as the voice of reason, as the shoulder to lean into.

Anne Marie Hamilton: So one of the challenges is being able to work with first-time investors, to sophisticated investors, and everybody in between. So really being a multichannel. So being able to use things like the digital offerings, like Guided Wealth Portfolios, along with things like financial planning and full service, and really being able to help people at all levels.

Avi K. Pai: When I first got in this industry, it was to talk about investments, and I thought that's what clients really were interested to talk about. But over time, I feel like that's less and less part of the conversation, and it's more like, how are these things going to change my life? How can I make changes in my life that are going to make me happier? How do I leave a legacy? How do I educate my children about their finances? That to me, is what our business has evolved into.

Bryan Neill: For me, and I think the reason that I have the clients I have, is I'm not just worried about what's happening today or tomorrow or in three months, I'm worried about two generations down the road, and how we're going to preserve what you've done for the last 30, 40, 50 years, how we're going to push that forward for the next 30, 40, 50, 60 years. So if I can help you improve your legacy, and you've trusted me to do that, let me continue to do that. Don't judge our long-term performance on a three month or a six month stent. Give us time.

Kate Clark: I've made it a point to not just go into a new client meeting telling them all the great things that I think our firm can provide, but really asking them more probing and emotionally based questions of how does their previous experience in working with a financial advisor translate into what they're looking for in a successful relationship? Helping them understand or helping me understand how they approach financial decisions. I think if we can take a moment to listen to that client, they're going to tell us everything that they're looking for.

Anne Marie Hamilton: These last couple of years have been very tough for everyone really in the country. So being able to spend some time and really listen to what a member, what a client needs, I think is just so important. So maybe just slowing down a little bit, taking a step back, and really fundamentally connecting with someone before giving advice.