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The Benefits of Being a Most Trusted Advisor

Being the clients’ Most Trusted Advisor is a long way from just telling clients what to do, even if we have wide-ranging financial acumen.

Being an expert and highlighting options to clients, will always have a key place in advisory services and of course, it’s called and is familiar as consulting.

There are real benefits in being regularly involved and the degrees of the regularity of contact and/or meetings with a client in a year outside of compliance contact, depends upon a number of factors:

  • The clients’ identified need for support and progress timelines
  • Your time availability
  • The clients’ affordability
  • The clients’ appetite for speed of change

The benefits to the clients of you being regularly involved, are:

  • You can show them support and encouragement
  • You can regularly remind them of their objectives and keep them on track
  • They stay flexible by reflecting upon developments
  • They can stay focused and see progress
  • They can go at their own pace

The benefits to your firm of you being Most Trusted Advisor, are:

  • You are at the core of your client’s plans and in a position of optimum positive influence
  • You are seen as and deliver proactive advisory input
  • You protect your client relationship and will get fewer surprises
  • You are regularly in a position to pick up on new advisory projects
  • You have recurring fees and an enhanced perception of value

These two benefit lists provide a genuine WIN:WIN situation for all concerned.


Quote of the Week

As Jack Welch approximated the point more pungently in his 2005 book “Winning”, In real life, strategy is actually very straightforward. You pick a general direction and implement like hell.

– Walter Kiechel

Book of the Week

The Lords of Strategy: The Secret Intellectual History of the New Corporate World

– Walter Kiechel

Remarkably, fifty years ago that’s the way it was. Businesses made plans, certainly, but without understanding the underlying dynamics of competition, costs, and customers. It was like trying to design a large-scale engineering project without knowing the laws of physics.