Saturday, 05 November 2011 00:00
Most authorities on personal finance agree the role of the financial advisor is essential to help individuals make good decisions and take appropriate action to achieve the results they want.
According to an extensive study at the College of Financial Planning, conducted by Dr. Larry Skurnick a Measurement Research Specialist, there are 6 things financial advisors must know:
- Communication skills
- Risk management
- Investment planning
- Tax planning
- Retirement planning
- Estate planning
This means communication skills are essential for financial planners, insurance agents, registered investment advisors, registered representatives, CPA’s, and attorneys.
All are subject to numerous disciplinary and ethical rules because they offer a variety of complex solutions that can be tailored to the specific needs of each client. Experience has proven lack of effective communication is often the cause of rules violations for an otherwise ethical and competent advisor.
One aspect of being an ethical advisor is to provide advice only in those areas where you maintain the necessary knowledge and skill to do so. Did you know the Preamble of the Society of Financial Services Professional’s Code of Professional Responsibility say’s, in part?
“ethical behavior must come from the personal census of each individual and that a member shall continually improve his or her professional knowledge, skill and competence.”
Are you continually improving your communication skills?
When you are ready to take your one-on-one communication skills to the next level you may to consider participation an upcoming CAPS™ Skills Workshop. It is a proven way to sharpen your skills. You'll benefit because it can help you to build trust and ethically attract, serve and keep more the ideal clients you want.
