Dimensional has been working with financial advisors for more than three decades. To recognize the impact they have on the investor experience, we compiled a list of 10 attributes of great financial advisors.
1. Purposeful: They have a clear mission to serve clients and help them reach their goals.
Great advisors want to do great work for their clients. They stake their business on doing the right thing—and know that business success will follow.
2. Empathetic: They know they cannot effectively serve clients without genuinely relating to them.
To serve well, an advisor must assume a client’s perspective. Empathetic advisors put themselves in their clients’ shoes and work to understand what matters most to them.
3. Authentic: They reveal their true selves to clients.
Effective advisors elevate the connection with clients by revealing their own personal stories. A willingness to be transparent and vulnerable helps build client trust and encourages real communication.
4. Intellectually curious: They continue to search for the most robust solutions for clients.
Great advisors are on a continual path of professional improvement. They are lifelong learners, open to new ideas and committed to honing their technical knowledge and skills.
5. Personally inquisitive: They work hard to uncover what’s truly meaningful to their clients.
Engaged advisors also have mastered the personal side of advice. They ask probing questions to better understand their client’s views on money and life before creating a plan.
6. Quiet: They listen more than they talk.
Active listening encourages clients to reveal their deeper thoughts—and often, an advisor’s best answer is to ask a question that sparks creative analysis and self-discovery.
7. Passionate: Their unwavering desire to do well for others drives constant improvement.
A strong sense of conviction to do right by clients compels great advisors to continue honing their craft and ultimately enhance the value clients receive.
8. Entrepreneurial: They run their practice as a business and plan strategically for the future.
Advisors can better serve clients when they run successful firms. Just as they encourage financial responsibility in their clients, top advisors apply a high standard to managing their own enterprise.
9. Honest: They set realistic expectations about controllable actions and probable outcomes.
While the best advice may not be easy to hear, great advisors communicate essential truths about money and investing so that clients have realistic expectations about their wealth.
10. Disciplined: They don’t let market swings or media messages drive impulsive actions.
Effective advisors know the importance of preparing clients to navigate changing markets and apply discipline at crucial times, which can lead to a more enjoyable and promising financial journey.
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Advisory services are offered through Worthen Financial Advisors, Inc.; an investment adviser domiciled in the state of Texas. This communication is not to be directly or indirectly interpreted as a solicitation of investment advisory services to residents of another jurisdiction unless the firm and the sender of this message are registered and/or licensed in that jurisdiction, or as otherwise permitted by statute.
Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended and/or undertaken by Worthen Financial Advisors, Inc[“Worthen”]), or any non-investment related services, will be profitable, equal any historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.
Worthen is neither a law firm, nor a certified public accounting firm, and no portion of its services should be construed as legal or accounting advice. Moreover, you should not assume that any discussion or information contained in this video serves as the receipt of, or as a substitute for, personalized investment advice from Worthen. Please remember that it remains your responsibility to advise Worthen, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. A copy of our current written disclosure Brochure discussing our advisory services and fees is available upon request. The scope of the services to be provided depends upon the needs of the client and the terms of the engagement.
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Risks
Investments involve risks. The investment return and principal value of an investment may fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original value. Past performance is not a guarantee of future results. There is no guarantee strategies will be successful.
Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission.
by Launch Kits
