Advisers have highlighted Trust as the most important attribute they believe their clients are looking for when choosing their financial adviser.
Around one third of advisers (34%) voted Trustworthiness as the key factor in response to our latest poll question, which asked:
What is the most important attribute consumers are looking for when choosing their financial adviser?
Second on the list of most important attributes is Understanding and Empathy (21%), followed by the Personal Relationship between adviser and client (15%).
This is a difficult poll question because, as one adviser has pointed out, all the characteristics listed in the choices are important components within and adviser/client relationship. But the point was also made that these traits can become important at different times during the relationship timeline:
At the beginning a consumer may not have a personal relationship nor have any idea about how honest or trustworthy the adviser will be. I would say experience, technical knowledge and understanding and empathy would rank about equal (when choosing). The other attributes can be built after the appointment is made.
The outcome of our poll runs counter to results from a US study that asked one thousand middle income consumers the same question. In the US survey, technical knowledge was the most popular attribute sought by consumers. But in our poll, advisers believe this quality ranks mid range amongst the ten characteristics.
Our poll remains open for you to add your opinion as to what attributes you believe your clients are seeking in you, particularly during this time of industry evolution…
