Broker Check

Does Your Financial Professional Know Your Why?

Are you thinking of working with a financial professional? If you are seeking advice as to what you should do with your hard-earned money and who you should work with, then you probably should be asking yourself the following questions:

  • How objective is the financial professional?
  • Would they hold your best interests first?
  • Will their top priority be to help you or to make a sale?
  • Would you feel comfortable recommending them your friends and family?
  • And, probably most importantly, DO THEY KNOW YOUR WHY?

The financial services industry sometimes gets a bad rap because of financial professionals who operate purely with selfish motives, not putting the client’s best interests and priorities above their own agenda.

This is an industry-wide issue that directly affects clients and how they reach their goals. Let me explain.

Financial Professionals can have preconceived notions before entering the meeting as to a product or service that they will recommend no matter the issue or goal the client may have. However, in fact it is our duty — especially those of us who are fiduciaries — to always act in the best interests of the client and put their needs first and foremost. A trusted financial professional learns as much as he/she can not only about what you want, but WHY you want it. Why is what drives us to reach goals, not what.

Building an authentic client-financial professional relationship will help immensely when the financial professional makes recommendations based on the client’s needs and wants, as well as the clients making the actual decision to move forward with that financial professional. No one wants to be sold, but they do want to be educated and empowered to acquire what they need.

Everyone’s needs are unique, so do your homework and listen when you meet with an financial professional. Make sure this financial professional always puts your interests first, listen to what the financial professional asks, and ask questions that are important for you to decide if they will be the person who is going to help you to the finish line.

Article by Erick G. Colon.

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