Maximum clarity on how adviser will help

Updated 9 months ago by VouchedFor Team

Maximum Clarity On How Adviser Will Help is a Driver of Elevation Goal 1: Making great first impressions, increasing conversion

Data based on responses to the following question, asked in the First Impression review form

“How well do you understand how [adviser] would help you achieve your goal(s)?”

Possible responses

N/a, we didn’t discuss goals
I’m not sure what they would do to help
I’m quite clear on what they would do to help
I couldn’t be clearer on what they would do to help

Maximum Clarity On How Adviser Will Help Score

Proportion of respondents answering “I couldn't be clearer on what they would do to help”

Relationship between Maximum Clarity On How Adviser Will Help and Conversion Rate

The relationship between Maximum Clarity On How Adviser Will Help and Conversion Rate is highly statistically significant

Why do we ask about Maximum Clarity On How Adviser Will Help?

Clarity on how the adviser will help arose as a key driver of advocacy through our qualitative research with firm management teams, advisers and clients.

We confirmed this relationship quantitatively through our review forms.

How to improve your score:

Clearly define goals

Understanding motivators. Ensure you’ve got your client’s real goal and the motivation behind it. Question superficial goals to get to the real reason they want to act.

Clearly defined. Make sure goals are clearly defined. The more defined the goal, the more powerful it will be when you give them the plan to get them there.

Visualise the journey. Cash flow modelling can be a fantastic way to visually show your client the path to their goal.

Explain the steps of the financial advice process

Timeline & Expectations. Be sure to include what will happen and when, what’s expected of your client and what they can expect from you.

Behind the curtain. Highlight the stages of the process that your client doesn’t see (information gathering from providers, research, setting up new plans with providers, chasing transfers, etc). It’s easy to forget everything you do as an adviser because you do it every day. By explaining it to your client in an easy-to-understand way, they can see the amount of work you do to help them achieve their goals.

Annual Reviews. Don’t forget to explain the annual review process and how this is vital to ensure your client stays on track to achieve their goal.

Reference how each step will achieve your client’s goal

Linking steps to objectives. Creating a link between the steps your client is taking and how it is helping them to achieve their goal will help your client remember what is happening and why.

For example,
- “The risk profile questionnaire assesses how much risk you’re willing to take to achieve your goal of retiring early”
- “We complete a cash flow model to see what level of savings you’ll need to retire early”.

Make it relatable

Paint a picture. Use analogies to help create a picture in your client’s mind. You could describe yourself as a famous coach in a sport your client is interested in. Or perhaps describe the financial plan as establishing the destination and route to get there, with the annual reviews as small adjustments en route to avoid roadworks or traffic.

By helping your client understand their goals, the process and the actions needed to get them there, and how you will help at every stage, you can increase your client's understanding in what you do and how you will help, and your value to the client becomes exponentially clearer.