#wealth #investing #wealthmanagement In this episode, Gillian Stovel Rivers and Julie Littlechild delve into the critical role of trust in sustainable business growth, particularly in the wealth management sector. They explore the gaps between advisors' perceptions and clients' realities, emphasizing the importance of understanding clients' feelings and concerns beyond just financial metrics. The conversation highlights the need for a shift from efficiency-focused practices to more engaging, personalized client interactions, leveraging technology to enhance human connections. They discuss the evolving role of advisors in facilitating deeper conversations about clients' broader life concerns, ultimately aiming to build stronger, trust-based relationships.
Learn more about Julie's award-winning research and advocacy at https://absoluteengagement.com
Takeaways
🧠 Trust is the foundation of sustainable business growth.
🤖 There are significant gaps between what advisors think they deliver and what clients actually need.
🧠 Clients prioritize how they feel over mere service delivery.
🤖 Conversations about clients' concerns are crucial for building trust.
🧠 Efficiency in client services can lead to commoditization.
🤖 Technology can enhance human relationships in client engagement.
🧠 Advisors should address broader life concerns, not just financial ones.
🤖 Asking the right questions can lead to deeper client insights.
🧠 Starting with small changes can lead to significant improvements in engagement.
Trust must be earned through consistent, meaningful interactions.
Quotes
• “I don’t walk away from a meeting thinking, wow, they’re really using their CRM well. That’s not what grabs me.”
• “When it’s efficiency, everybody looks the same. It becomes commoditized. It’s not differentiated. You could go anywhere and get the same.”
• “Solving for efficiency is a safe route. It doesn’t require you to ask a tough question. It means we can see more people—but not see them deeply or truly.”
• “We tend to over-index on efficiency. It’s foundational, but it’s not the full experience.”
• “Clients’ real gaps aren’t about service. It’s their confidence and clarity when they look forward.”
• “Advisors are well-positioned to support clients emotionally, but they have to ask the right questions.”
•“It’s not about replacing advisors with technology—it’s about using technology to be more human.”
Chapters
00:00 The Essence of Trust in Business Growth
02:22 Identifying Gaps in Client Engagement
05:34 Expanding the Value Proposition
08:14 The Shift from Efficiency to Engagement
12:13 Balancing Technology and Human Touch
15:55 Understanding Client Concerns Beyond Finances
19:14 Building Stronger Relationships Through Broader Conversations
23:26 Facilitating Deeper Conversations in Wealth Management
26:24 Taking Steps Towards Enhanced Client Engagement
28:02 Moments of Bliss and Personal Connections
#flourish #wealth #wealthmanagement #investing #advisor #KnowThyWealthKnowThyself
Connect with Gillian:
https://www.linkedin.com/in/gillian-stovel-rivers-ma-cfp%C2%AE-cea-997094124/?originalSubdomain=ca
https://x.com/GillianStovelR
https://www.instagram.com/gillianstovelofficial
https://flourishfamilywealth.com/

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