Industry news and views from Panacea and our partners.
John Dashfield, Dashfield Coaching & Development Ltd_
A financial planner once told me about a meeting he had with a prospective client. The conversation was going brilliantly. They had been talking for nearly an hour. The client had opened up about their financial situation, their worries about retirement, and hopes for their children.
The feather, the brick, and the bus
At a recent social event, I caught up with a friend I hadnt seen in a while. By most measures, hes doing incredibly well. Senior role in a tech company, highly paid, respected, and successful. But his life is relentless.
The overlooked asset in financial planning: your own well-being
What is wealth? According to Googles AI Overview, wealth in financial services is defined as: The total net value of all assets owned by an individual or household, including financial holdings and property, minus any outstanding debts or liabilities. In other words, the cold, hard numbers.
Turning great conversations into paying clients
A financial planner once told me about a meeting he had with a prospective client. The conversation was going brilliantly. They had been talking for nearly an hour. The client had opened up about their financial situation, their worries about retirement, and hopes for their children.
What If Finding Clients Could Actually Be Enjoyable?
Finding new clients doesnt have to feel like a grind. In his new, free, report, "How to Get Financial Planning Clients", John Dashfield of Client Centred Advisers introduces a practical framework built on five core elements, from making genuine connections to creating conversations that lead naturally to proposals.
A Service-Based Approach to Winning Clients
Acquiring new clients is often cited as the most challenging part of running a financial planning practice. A new, free, report by John Dashfield of Client Centred Advisers entitled "How to Get Financial Planning Clients, tackles this issue head-on.
Why your financial planning fees must NEVER be an issue
Why it is important that a client sees the fees they pay you as an investment in themselves and their life?
Too much information: Give clients only what they need (not everything you have)
Finances can be complex. In my experience many financial advisers enjoy this complexity and find it stimulating. Yet when it comes to giving a client advice there lurks a danger.
The changing face of financial advice: How advisers must evolve to stay relevant
One of the things I have noticed about financial advisers and practices that continue to thrive is that they are masters of reinvention.
What are great clients really paying for?
A while back I read a long article in the financial press about choosing a financial adviser. From what was written it seemed that much of the industry continues to see advice as a commodity and undervalues the potential impact of the human element.
The power of the pause: why silence in conversations matters
How comfortable are you with silence in a conversation? The reason I ask is because we are culturally conditioned to leave very small gaps when we speak to each other. I used to enjoy watching The late late show when Craig Ferguson was the host. He would finish the interview with each guest with an awkward pause. This was often very funny because he was playing on the fact that we find silence uncomfortable.
Why movie montages can ruin your business
I love an 80s movie and there are so many great ones to choose from. A feature of many of them is the montage.
Seven ways to become effortless to do business with
One of the keys to creating a thriving practice is to make it effortless for clients to say 'Yes' to doing business with you.
The end of sales techniques: How authentic connection drives results
Being able to positively influence someone and confidently sell your services are essential skills if you want to build a thriving financial planning practice.
The law of action - why action beats attraction
Do you want to build a better, more profitable practice but finding progress is painfully slow? You have probably heard of 'The law of attraction'. The idea gained huge popularity when the film and then the book, 'The secret' was released.
How to start a financial planning conversation
There still seems to be a substantial number of advisers and firms that kick off a client conversation with some version of Let me tell you about me (my firm, my process, etc). The problem with this is not that a client does not want to know this information. Maybe they do or maybe they dont.
Real financial planning - is it just about the money?
Far too many financial advisers and planners seem to assume that a clients primary interest is in financial products, investments, and what the markets are doing.
Why your financial planning practice culture is the key to delivering exceptional service
Are you committed to delivering exceptional client service?
The biggest challenge (and opportunity) in the financial planning process
In a perfect world a client goes through the financial planning process and implements the recommendations and advice they are given. As a result, they are happy and achieve their goals. Yet we are not living in a perfect world, which presents both a challenge and an opportunity for financial planners and their financial planning process.
Will your financial plan pass the 'so what' test?
Imagine that you have gone through the discovery process with your client and your next meeting is to present your carefully crafted financial plan. You want the meeting to be a success and have the client be enthusiastic about your recommendations.
Integrity: It is more important than we think
As professional people we highly value integrity, right? We like to think of ourselves as being a person of integrity and we want other people to act with integrity towards us.
Top ten essential inter-personal skills for financial planners
Is technical ability a guarantee of a successful and prosperous career as a financial planner? For me, the answer is no because being a successful practitioner is just as much about people as it is a technical role. So, in this article I am looking at my top ten essential inter-personal skills for financial planners. I would also add that whilst I am calling these skills, they are far more than just learned behaviours. They are deeply rooted in your state of being and cannot be faked.
Why does attachment ruin client engagement?
Successful client engagement has many aspects, and this article explores one of the most crucial.
Financial Planner? Are you selling drills or holes?
In my career as a financial adviser the training and qualification process was all about pensions, investments, insurances, tax, markets, trusts, risk, and so on. So, in the beginning this is what I talked to people about because this is what I thought you did. It did not occur to me until several years later that I was selling something that no one really wanted.
How to ask great financial planning questions
Asking great financial planning questions is the foundation of creating a highly compelling plan for your client. When your client can clearly see that their financial plan is going to be an essential part of getting what they most want then why wouldnt they be excited about it?
Listening is a super power
Perhaps the most underrated skill for a financial planner or adviser is listening.
Stress free goal setting
What is your experience of goal setting? For me, I would set goals because it seemed like a good idea to know where I wanted to get to. Yet I found that, at times, the process could become quite stressful. I have also heard many people share that this is their experience too. So, if stress free goal setting is something that would be valuable to you, I invite you to read on.
Why elevator pitches don't work
What prompted me to write this piece about elevator pitches was reading an article published by Asana. It said: A good elevator pitch can be the difference between landing your next big opportunity or falling short of the competition. Really? Does this stack up?
Client meetings: why speak from your heart and not just your head?
If you were forced to do just one activity in your business and had to relinquish everything else, what would that one activity be?
My favourite Einstein quote and why it matters
One of the biggest challenges for financial planners and advisers is getting stuck on a plateau they cannot seem to move past. Can you think of a recurring problem or limitation in your business?
A new way of thinking about financial planning fees
Although there seems to be plenty of information on the process of increasing your financial planning fees, there is far less on the thinking behind it.
What use is financial planning without strong leadership?
Highly effective financial planners and advisers are not only good at delivering great advice; they are also strong leaders.
Ten powerful ways a financial planner can deeply serve clients from the first moment
As a financial planner or adviser, it is powerful to be of service from the very first moment you meet them.
My favourite Warren Buffett quote and why it matters
Warren Buffett is one of the most successful investors of all time and one of the worlds wealthiest individuals. He also has some very astute observations about life.
The secret of successful selling
I first met Jamie Smart nearly twenty years ago and have seen him build two successful businesses and author some excellent books and programmes.
What makes a client want to engage a financial planner?
A successful financial planner I work with remarked to me that no one ever approaches him for a financial planning engagement. Instead, there is usually a trigger event that leads a client to thinking they want a financial product, investment advice, or financial problem solved.
How to transcend your comfort zone and ignite your life
Our comfort zone can be very limiting. For instance, it can hold you back from realising your greater potential, making a bigger difference to your clients, and experiencing greater success.
Want more financial planning referrals? This MUST happen first
Good financial planning referrals from happy existing clients are one of the best ways to grow your practice.
No pressure selling and influence part 2
Being a powerful influencer is a vital aspect of your role with clients and yet it is something that advisers can be uncomfortable with. In part 1 of this article we looked at the first of 3 common symptoms of feeling under pressure and what is really behind clients having a great experience of you.
The real problem with fee charging (and it is never about the money)
Fees and fee charging are now a fact of life for financial professionals and yet it seems to be an area that creates far more challenges than is necessary.