Wealth advisers urged to offer support, not technical tips
Financial advisers must provide reassurance to clients during the current financial and economic turmoil or risk losing them, top UK wealth experts have warned.
The disruption in the markets means advisers focusing on technicalities and specialist products is no longer enough — broad-based regular communication with clients is essential, especially after the Bank of England warned last week there was a “material risk” to UK financial stability.
This sentiment is echoed across firms featured in a list of the best advice businesses in the country, compiled by FTAdviser, the FT’s specialist publication for the sector.
Over the past few weeks, most conversations Quilter Private Client Advisers has had have revolved around “reassuring clients”, according to financial planning director Sarah Waring.
This reassurance has spread to not just the client but their families, too. “In adversity, families pull together, and we want to help advisers facilitate this from a financial perspective, ensuring each family member is put in the best position possible,” said Waring.
This story originally appeared on: Financial Times - Author:Simoney Kyriakou
