Did you know that in 2019, there are approximately 20,000 Financial Advisers in Singapore? And we could be seeing an increase in the number of Financial Advisers this year due to the steady rise in demand for financial services and retirement planning solutions after Covid-19.

The financial services industry has seen continuous and promising growth this year. This is mainly because more and more people and organisations are starting to better plan their long-term financial and healthcare needs. In fact, Singapore’s life insurance industry has seen a 29% growth from last year.

So, with more practitioners in the financial services industry, does this make it more difficult for Financial Advisers to stand out and make a name for themselves?

How to stand out as a Financial Adviser

1) You need to personalise your services

It’s important to let your clients know that you always put them first. When meeting the client, don’t make it all about you, your company, or your investment approaches. You can build trust and relationships with your client by personalising your service to fit their preference. But before you can cater your service to their liking, you need to first get to know them personally and professionally.

2) Be clear of your service commitment

When you have a written agreement between you and your client on the services, support, and responsibilities you provide, you give them a clearer view of your service and show accountability. Consequently, you and your client will know what to expect from each other.

3) Send a recap for every meeting

This may seem like a no-brainer but it is a very important step that every Financial Adviser should practise. After the client meeting, be sure to list down the meeting agenda and send them to both the client and your team. This list can be used as a follow-up or as a guide for the next meeting. When you do this, your client will see you as a self-starter and will trust your service.

4) Follow a consultative process

The consultative process requires you to see the business relationship from the client’s viewpoints. What are the solutions that they will agree or disagree with and what can you do to engage with them? This process opens up a problem-solving strategy that involves consultation between you and the clients. From there, you can streamline the workflow and make the necessary adjustments.

5) Empathise

Remember to always have a giving approach to clients. You can start by getting to know them on a personal and professional level. Find out what other aspects that they need help with and try to come up with a solution for them. This is a great method to winning their trust!

How does mastering will-writing help you to stand out?

Most people are not prepared to write their own will as the topics surrounding finances and wills are considered sensitive matters. Therefore, if you have the knowledge and credibility to help others plan their will, you can:

  • Offer will-writing as an extension of your financial services to increase your income.
  • Offer clients peace of mind, knowing that their will is managed by a Financial Adviser.
  • Help clients make better decisions for their wills.
  • Assist clients in preparing a properly structured will.
  • Ensure that the clients will contain an adequate financial provision for their dependents by understanding the client’s financial background.

Mastering will-writing is not just a writing skill, it requires intuition, empathy, and the ability to bring together the knowledge of finances and understanding of clients, both on a personal and professional level.

In other words, Financial Advisers who are well versed in both financial planning and will-writing will stand out among the rest as mastering will-writing will benefit not only their clients but also their career growth.

To learn more about will writing and get the ideal probate solutions, get in touch with us now.