Advice for Those Who Advise: 4 Essential Tips for New Financial Planners


Being trusted to advise people on how to use their money is a privilege for only a select few. As a financial planner, the burden is on you to prove to clients that your advice is worthwhile. But the only way for them to reach that conclusion if for you to show you know what you’re talking about. Here are four essential tips for new financial planners.

Start Slowly

As a financial advisor, you need to build up your credentials on a gradual basis. Your first few clients should be individual accounts with manageable amounts of money. Even if you’re just starting, don’t disclose that to your clients. You should be viewed with just as much trust as someone who’s been doing this kind of work for decades. As long as you show that you’re dedicated to your clients, you deserve their faith.

Do Your Research

Being a financial planner means understanding all kinds of investment options. Between 401Ks, CDs, and IRAs, there’s a lot to master. Before you start, you should know all of this and more by heart. A good sign of whether you understand these things is whether you can explain them to someone in a simplified manner and have them understand as well.

Take Your Time

Your clients shouldn’t expect that they’ll show you their financial records and you’ll instantly have an idea of how their money should be invested. One of the worst things you can do as a financial planner is to rush to a decision. Some mistakes can be undone, but it’s much better to get it right the first time. Your clients will appreciate knowing that you are being thoughtful with their finances.

Use an Online Platform

One of the greatest privileges of the internet age is how it allows for business to be conducted remotely. A financial advisor platform allows you to manage multiple accounts in a secured fashion. Your clients will also appreciate being able to access their information from their personal devices. Digital account management can also help to reduce paper waste caused by mail. The implementation of an online platform provides greater organization for everyone and saves time.

As a new financial planner, you need to put your heart into learning and growing. If you have any questions about your role, you need to get them answered before you sit down with your first clients. By proving your knowledge on financial matters, you can create a much greater sense of trust between you and your clients.