Knowledge is power!
Before making any decisions in life, having as much knowledge and information to hand as is reasonably possible is key.
As a Financial Adviser you will never make a recommendation to a client without making sure you have all relevant information. Examples will include:
- Ascertaining your client’s personal and financial needs and objectives;
- Researching the most suitable investment products available in the marketplace; and
- Staying abreast of latest information about how the markets are performing.
All of the above is key, but you also need to have as much insight as possible about your client’s understanding of this information. Without this you can’t advise on what will be right for them.
There will be many non-verbal clues you could pick up on, but this is not a skill that everyone has nor can it necessarily be relied upon or documented.
Having tools such as the bespoke software that WTL offers can aid you in this. Our software allows you to help your clients obtain and understand key information about their cognitive/behavioural biases. To find out more about this, email us at [email protected]