What Should You Expect From A Successful Financial Advisor or Wealth Management Platform?

 Tim Baker
  Jan 25, 2019


Today, there are tons of financial advisors at every turn. But that is not much of a problem, or is it? Real confusion comes when each financial advisor prescribes totally conflicting approaches to a single circumstance. In this guide, we shall demystify the roles and the expectations that one has to meet for you to consider them as astute financial advisors.

What should you expect from a successful financial advisor or wealth management platform? Read on to find out.

Advisors should add value

The truth is that in this age of information, financial-advice clients are more knowledgeable and informed. This essentially means that a successful financial advisor should know more. That is the first expectation.

Clients often have ideas in their mind, even before they begin seeking financial advice from wealth management platforms. Now, this does not mean that financial advisors have to massage the egos of their clients even when the idea is a nonstarter. As a client, you should ask the tough questions before you sign the dotted line.

On the contrary, clients expect financial advisors to understand their perspective and add value to the idea. This could mean improving on the idea, developing a roadmap for the idea, cutting off some parts or even abandoning the whole idea completely.

But this requires information. The financial advisor should not seem to be expressing his/her opinion the entire time. The advice offered should be backed with irrefutable facts. And this leads us to our next point.

Successful advisors offer proactive recommendations

A successful financial advisor should be able to understand your financial position and merge it with your future financial projections. In essence, the financial advisor has to put in an intensive research to provide a water-tight financial plan.

As a client, you need to be watchful of clients who are hell-bent on getting to control your finances. From the nature of the conversations, you could determine where the interests of the financial advisor are.

Here, it is also important to ask the particular financial advisor whether he/she has handled similar instances before. If yes, you should request to see proof of how all that ended.

The assurance that you are having the right advisor also helps you to develop a mindset for project success. You are less likely to succeed with the wrong attitude, or perhaps the ‘right’ attitude.

The reputation of a financial advisor or wealth management platform

As a client, your general expectation is getting value for your money. This includes putting your money where it is more likely to be useful or multiply. Word of mouth can never be underestimated. Most wealth management platforms get referrals from co-workers, neighbours, friends or family.

So, quick internet research would be necessary to look into the company profile and the clients they have served in the past. Similarly, you could reach out to a few people who have been served by the firm to see for yourself if it works for you or not.

Effective communication and transparency

One of the hallmarks of client expectations of a financial advisor is effective communication. However, this does not extend to incessant calls or home visits, while asking the same questions. Clients expect an elaborate communication channel that is direct and can be traced in the case of a dispute.

As a requirement of the Department of Labor, advisors have to disclose all charges, act in the best interest of the client and demonstrate compliance to this.

Therefore, financial clients will generally demand a client-centered approach to financial advice. All processes should be clear and free from any sort of system manipulation.

Improved digital experience

Clients expect slightly more than what was offered by the traditional wealth management platform. Right from communication channels, all through to business data storage and privacy, clients expect top-notch technology.

Cases of misplaced paperwork and documentation are just simply a No! No! Clients expect at least more organization and clear workflow from these firms than that.

Nonetheless, a financial advisory firm should strive to achieve a personalized approach and service to each of its clients.

Now, you could also know you are with the right wealth management platform based on the questions they ask. So, what are some of the questions that successful financial advisors are likely to ask?

  • What are your financial priorities? This question helps the financial advisor to guide you in your investment path, determine the potential pitfalls and how to be successful at whatever you choose to do.
  • Where do you see yourself in 5 years’ time? A successful financial advisor should help you plan your future life. Additionally, the advisor should take into consideration all your future plans and device a practical approach to attaining your goals.
  • What are the non-financial aims of your life right now? Well, this varies from one person to the other. Money, in itself is a means to getting an end. Great financial advisors are likely to ask this question to help them figure out your ultimate goal in life.
  • Have you ever worked with financial management before? This question is sure to let the advisor understand your deepest concerns and expectations. It also helps them to know your frustrations with the former advisor to forge a more long-lasting relationship.
  • Why do you need financial advice? This is one of the fundamental questions that most wealth management platforms are likely to ask you. The answers may vary depending on the amount of money involved, the age of the client or the circumstances surrounding the investment decision.


If you are planning to buy a home through saving for the deposit and managing your existing debt, you need a financial advisor. Similarly, raising and providing for your family education and basic needs will also need a sound financial guide. The case is similar to whether you just want to clear off your debts or enjoy your retirement.

With this guide, we are quite sure you may have discovered what to expect from a successful financial advisor or wealth management platform.

What Should You Expect From A Successful Financial Advisor or Wealth Management Platform?

Tim Baker

Tim Baker is a proud father of two with an educational background in economics and business. He is a keen blogger and contributor to various finance, business and lifestyle blogs.

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