94% of clients say trust matters most. So why don’t advisers study it?
According to Vanguard research, 94% of clients say trust in their adviser is critical to their overall satisfaction.
Before becoming a full-time coach and mentor to advisers in 2006, John Dashfield spent over 14 years in a prosperous career as a self-employed financial adviser.
Having begun working at the head office of a life assurance company in 1986 he was appointed as the first member of the new Personal Pensions Department on 1st July 1988.
The department grew rapidly and within 18 months he was managing a team of 12 and spending a lot of his time as a pensions technical adviser to the company’s self-employed financial advisers.
Inspired by the advisers and idea of creating his own business John resigned from his position in 1991 and became a self-employed financial adviser.
Starting with just a desk, a phone and a lot of perseverance his business began to grow, and he went on to set up his own IFA practice based in Bromley and eventually in Sevenoaks, Kent.
Since his early 20’s John also had a fascination for practical psychology, personal development and how to get the best out of ourselves.
After reading hundreds of books and learning directly from leaders such as Dr. Richard Bandler, Tony Robbins, Michael Breen, Paul McKenna and Dr. Christina Hall, John became a Licensed Master Practitioner and Business Practitioner of Neuro-Linguistic Programming and a certified coach through The Coaching Academy.
John began coaching financial advisers in 2004 and sold his IFA practice in 2005 to focus solely on his coaching practice.
According to Vanguard research, 94% of clients say trust in their adviser is critical to their overall satisfaction.
One of the most common assumptions people make is this:“I’ll be happy when…”I’ll be happy when I can retire.I’ll be happy when the mortgage is paid off.I’ll be happy when I have enough money.I’ll be happy when I can work less.I’ll be happy when I’ve achieved financial freedom.At first glance, these seem like perfectly reasonable goals.In fact, many of them are exactly the kinds of goals financial planners help clients work towards every day.
Perhaps one of the most important things to understand about money is that people don’t experience it rationally. They experience it psychologically.
Most financial planners are well-versed on the technical aspects of planning – investment knowledge, asset allocation, and financial strategies.
Changes in financial planning don’t always arrive with a bang.Sometimes they come quietly, over time, almost unnoticed – unlike something externally imposed, such as Consumer Duty.
As a financial practitioner, it’s easy to stay in familiar territory.Talking with clients about products, investments, and financial strategies.
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