6. Use clear language to demonstrate that client interests come first. Words matter—especially when communicating with investors. But there’s still a disconnect in our profession. An overwhelming 80 percent of retail investors want investment reports that are easy to understand, though only 51 percent are satisfied with what they receive. Do your investment reports provide insights that investors care about, or do they read like data dumps? In the words of George Bernard Shaw, “The single-biggest problem in communication is the illusion that it has taken place.”
7. Showcase your ongoing professional development to improve investment knowledge. Investment management professionals of the future will need to draw on a range of skills—including more soft skills. However, having a strong investment management IQ will always be a prerequisite for delivering value to your clients—even in a world with inexpensive indexed products that still call for wise choices around asset allocation decisions. In fact, almost 80 percent of investors worldwide say they would have more trust in their adviser if the investment staff took time for continuing professional development.
8. Demonstrate your dedication to the values that clients hold dear. Clients want customized solutions that fit their individual objectives. Moreover, today’s investors want advice that’s woven into a more holistic approach to the management of their wealth, combined with a rich client experience.
Creating A Differentiated Value Proposition
Building enduring client relationships predicated upon trust takes work—and there are no shortcuts. But clearly investors are vocal that factors such as delivering on brand promises, transparency and professionalism evidenced by continuing education are what matters to them. Being explicit about how you are earning credibility and demonstrating professionalism to your prospects and clients positions you to offer real value and engender trust that sustains relationships in dynamic times.
Bob Dannhauser, CFA, FRM, CAIA, is head of Global Private Wealth Management at CFA Institute.