This year, Dimensional is celebrating 30 years of working with financial advisors, a collaboration that has helped change the way the world thinks about investing. To recognize that impact, we have compiled 30 ways that investors can benefit from the industry’s transformation. In this last of a three-part series (see Part 1 and Part 2), we consider 10 common attributes of advisors who are focused on delivering a great client experience. —Dave Butler, Co-CEO
Great advisors want to do great work for their clients. They stake their business on doing the right thing—and know that business success will follow.
To serve well, an advisor must assume a client’s perspective. Empathetic advisors put themselves in their clients’ shoes and work to understand what matters most to them.
Effective advisors elevate the connection with clients by revealing their own personal stories. A willingness to be transparent and vulnerable helps build client trust and encourages real communication.
Great advisors are on a continual path of professional improvement. They are lifelong learners, open to new ideas and committed to honing their technical knowledge and skills.
Engaged advisors also have mastered the personal side of advice. They ask probing questions to better understand their client’s views on money and life before creating a plan.
Active listening encourages clients to reveal their deeper thoughts—and often, an advisor’s best answer is to ask a question that sparks creative analysis and self-discovery.
A strong sense of conviction to do right by clients compels great advisors to continue honing their craft and ultimately enhance the value clients receive.
Advisors can better serve clients when they run successful firms. Just as they encourage financial responsibility in their clients, top advisors apply a high standard to managing their own enterprise.
While the best advice may not be easy to hear, great advisors communicate essential truths about money and investing so that clients have realistic expectations about their wealth.
Effective advisors know the importance of preparing clients to navigate changing markets and apply discipline at crucial times, which can lead to a more enjoyable and promising financial journey.