The word trust, according to the dictionary means ‘reliance on the integrity, strength, ability, surety, etc., of a person or thing; confidence.’ Which I believe we would all agree on.
But why is it that people trust some financial advisers and perhaps not others? Is it qualifications? Is it because they are part of a particular association? Is it because they have been in the profession for over 20 years?
None of the above.
Over the years I have personally interviewed clients of financial advisers. Not through an online survey but actually one on one. One of the standard questions I ask is, ‘When you first met Bob, why did you decide you could trust him?’
- Top answer – Because he was referred to me by my Accountant and I trust my Accountant.
- Next answer – We just really liked him, he comes across as very personable.
- Next answer – He took the time to listen to us.
Interesting answers but I’m never surprised. Not once has a client said because my adviser has XYZ qualifications or belongs to a particular association. It’s all those intangible things that people use to judge you and decide whether or not they can trust you.
I don’t discount qualifications by any stretch of the imagination and nor would clients I’m sure if they knew more about them. I assume clients expect their adviser to have a certain level of qualification. Perhaps next time I’ll ask them!
My point is, from a marketing perspective never underestimate the power of introductions from others. Focus your marketing efforts on developing healthy, sustainable professional relationships and receive more of the right type of client.
Remember introductions can come from a variety of channels, other professionals, your existing networks, alumni, your online community, the list is endless.
Never let your finger off the pulse because introductions from others are one of the main reasons potential clients trust you to start with.