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The biggest influence on financial advice is not the numbers

Financial advice is not just about the numbers.

In fact, advisers that have the greatest impact in changing their clients’ lives are those that deep dive into the depths of what really makes people tick. Although this is a scary place to venture, it is also where the gold nuggets of influence lie.

People have a reasonably simple exterior, yet under the cover lies a complex emotional being. When it comes to financial advice, helping clients make lasting progress extends well beyond the tactical advice and solutions you provide around their money. This is only one piece of the puzzle.

The real magic takes place when in addition to the numbers, you are able to fine tune how people think, act and behave when it comes to anything financial. Being able to influence their habits, perspectives, attitudes, disciplines and reactions, some which have been ingrained since birth, will be the best medicine you can dispense to radically improve their overall position and develop a mutually rewarding relationship with money.

How would you answer these questions?

  • How do your clients respond to bad news or negative press?
  • How would they react if a GFC Mark 2 raised its head?
  • Do they make the most out of every situation (good and bad) and improve on it?
  • Do they focus on what they really value or are they easily distracted?
  • If interest rates soared, would it excite them or freak them out?
  • Are they able to deal with problems before they materialise?
  • Do they stand by their commitments, or procrastinate and do nothing?
  • When the going gets tough, what habits do they revert back to?

Depending on your answers, there may be an opportunity to influence your clients at a deeper emotive level. True financial freedom has two parts. One, is that your clients have the financial means to do and have all they choose. This is their physical wealth and it is where you probably do some of your best work. But, what happens if you get their numbers right, then through their own behaviour, they unwind all the good you did? Just reflect on the rags to riches stories you hear after people win big at the lottery.

The second part is equipping them with the mental fortitude and resilience they need regardless of their financial position. Money has a tendency to rule people’s lives. It can swing their moods, make them nauseous, create angst between couples, make them do work they don’t like and can contribute to insomnia. However, with your help, it doesn’t have to be this way.

What steps are you taking to address the emotive needs of your clients? How do you get up close and personal with them? How regularly do you discuss the real issues in their life (these are often not about money). What subtle reminders do you regularly provide to reassure them as their life carries on? How is your business geared up to do this with genuine intent and commercial efficiency?

At the end of the day, if you address both the emotional and financial needs of your clients, you will become someone in their life they can’t live without!


PS. Just so you know, I write all my blogs myself and I am not a professional writer. So if you find any spelling or grammar slip ups, they are a bonus as they were not meant to be included.

If you want more tips just like this, grab yourself a copy of my FREE e-book ’99 secrets to a successful financial advice business”. Click here, (or skip up to the top of this website and click, download now.) I’ll send it to you straight away! It’s a super easy read…. lots of pictures and short snippets of meaningful text.

Or, if you want to know how I could help you and your business, please get in touch. Promise it won’t hurt!


6 thoughts on “The biggest influence on financial advice is not the numbers”

  1. Great post Kim. It is certainly not all about the numbers and it is a lot more enjoyable to be able to understand and influence behaviours.

    Your website makeover looks fantastic. Great pics.

    1. Thanks heaps Geoff! I know how good you are at influencing people’s behaviour and helping them get amazing results!

  2. It is so refreshing to know that others in the financial advisory community share the same beliefs as me; financial advice is not just about the numbers…it is about so much more! thanks Kim.

  3. Great article – I also agree with Nicole’s comment
    I think addressing the emotional side of investing not only makes a big impact in the lives of the clients, but also a lot less headaches for their advisers.

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