Klen Kut

Do I need to be good at my interpersonal skills to be a Financial Planner?

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RE: Do I need to be good at my interpersonal skills to be a Financial Planner?

Alok Agrawal
Alok Agrawal
Verified Career Expert
Mananger at Etoe Group/Career Counselor
  • Bangalore

Yes It is very important for a Financial planner to be good in inter personal skills.

The primary reasons for the failure of financial plan are failed inter personal communication skill. If you are not good in inter personal skill you will fail to understand clients motivations and emotions which will leads to failure of your plan.
  • If the planner has not invested enough time in collaborations and understanding clients views and emotions, which will make it certain to create a emotional blocks that prevent change in clients behavior.In other words the plan was technically correct but failed in efficacy test, which is implementation and compliance of the same is not done due to emotional blocks.

  • When the client feel a good connection, caring and concerned wives from planner the bond is more positive and it widen the scope of implementation and compliance.

  • You need to build a good rapport and relationship with the client. More they are connected and open with you more they can recall and understand the planners plan and advise and greater will be compliance.

  • Evidence and research suggested that inter personal skill matter more than technical expertise when it comes to forging successful financial plans and client relationship.

  • Most of the people want planners who are skilled, knowledgeable, caring beyond transactions. They want planners who will work to strengthen their relationship bonds over time.

  • Financial Planners who connects with their clients as emotional level and develop a relationship of mutual trust experience greater success in plan design, implementation and compliance. The planner who do not connect, who do not possess strong inter personal skill increase their risk of failure. Failure leads to loss in revenues and performances.

Clients need an objective outside planning and advise who can help them by clarifying their goals and objectives, mapping out prudent financial decisions and establishing financial systems that support positive client behavior.

Some may argue that their work is to mange the money, execute the plan, and the planning implemented, only transaction based relationship is sufficient. But this type of practice is difficult to sustain and less rewarding if it is not a client centered approach.

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