Investor Education: Boosting Adviser Business Success

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As an investor, you want to make the most of your hard-earned money. But it is not easy to develop an effective strategy that meets your goals. Fortunately, new research* from leading experts in behavioural finance, Oxford Risk, has recently come out and shows us wealth managers that spend more time educating their clients, tend to make the most of their investments.

Interestingly, the study was conducted ahead of the implementation of the new Consumer Duty rules, which was planned for July 31st. The study found that 47% of investment clients agreed that they would invest more if they felt well supported and their adviser had sufficient time to explain their investments.

Therefore, understanding what drives people to invest more is an integral part of delivering a great experience for clients. It has been suggested that investment patterns are closely linked to personal behaviour and confidence levels, which suggests that advice should be tailored accordingly. At its core, this is all about taking the time to really understand a client’s needs and goals and reflecting that deeply in an investment strategy.

Furthermore, the research from Oxford Risk showed that the majority (91%) of clients consider an adviser’s ‘human touch’ to be the most important factor when deciding who to invest with. This is closely followed by knowledge of investments and financial markets (86%).

For investment advisers, this means taking the time to know their clients on a more personal level and being able to address their individual needs. Building trust and relationships over time is a significant part of delivering quality advice and helps to create strong relationships between investor and adviser.

Ultimately, these findings suggest that when it comes to providing an excellent client experience, spending time with your clients is paramount. Not only does it help to give them the confidence to invest, but it also helps advisers gain a better understanding of their clients’ personal goals.

In summary, the research from Oxford Risk suggest that providing quality advice and having a more ‘human touch’ when it comes to advising clients pays off. By taking the time to understand a client’s individual needs and goals, advisers can build stronger relationships and increase their chances of success.

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