As an advisor, it’s critical to provide the most objective advice to a client, which includes a comprehensive solution to address all of their financial goals and needs. If you act in the client’s best interest and stay true to their unique financial profile, you can attract loyal and long-term clients. In addition, I encourage you to follow these three steps that will help lead the way to success.
Step 1: Don’t focus on compensation
Many firms have an obsession to maximize compensation at all costs, sometimes to the detriment of the client. New advisors should not focus on how much they will be paid for their services. If you provide the best counsel for the client, you will be paid a fair amount and this will lead to much more compensation in the future via referrals. It does not pay to be short-sighted about compensation because serious advisors know they will be in the business for a long time and need to build a sustainable career.
Step 2: Act with integrity