June 25, 2019
Are you satisfied advisers have sufficient access to traditional soft skills training to complement other mandated adviser training skills/courses?
- No (69%)
- Yes (21%)
- Not sure (10%)
Most advisers appear to be dis-satisfied with the lack of emphasis on soft skills training options within the sector.
This is one of the conclusions that can be drawn from the results of our latest poll, in which around three advisers in four (76%) have indicated they’re not satisfied they have sufficient access to traditional soft skills training to complement other mandated training skills and courses.
The first round of the FASEA examination period was completed at the beginning of this week (see: First FASEA Exam Announced), where we understand 600 advisers have taken part across Australia.
While this exam tests adviser knowledge across key areas, the point made by regular Riskinfo commentator, Jeremy Wright, is that knowledge is not necessarily where advisers add true value. Wright says soft skills is the most important element in building trust and taking the potential or existing client to the point where a sale or service can proceed.
…education gurus place knowledge as the number one reason why clients should do business with advisers
He asserts ‘education gurus’ place knowledge as the number one reason why clients should do business with advisers.
“They are wrong,” according to Wright, who says clients expect the adviser to already ‘know their stuff’. What clients want, says Wright, is to have someone with integrity to be able to explain, in plain English, the reasons why they should take a course of action. He says this is a vital element to a successful and long term relationship between adviser and client.
Do you agree?
While it’s certainly a ‘given’ that product and industry knowledge is of critical importance, should the industry be committing more resources to helping advisers find that level of experience and capacity that will serve to enable clients to build trust in them and follow their advice?
Our poll remains open for another week and we welcome any contribution you may wish to add to this debate…