Why you should avoid hard selling

Do you remember the last time someone tried to pressure you into buying something? Rather than feeling confident and convinced, it’s probably more likely you were left feeling irritated, undervalued and reluctant to return.

As a financial adviser, you are entrusted with a number of crucial arrangements – a client may be saving for a first home, planning for retirement or organising a child’s inheritance – it’s important to take all options into consideration, creating a solution bespoke to the individual.

Hard selling leaves little room to fully evaluate a client’s particular circumstances and often ignores his or her long-term needs and objectives. Not only is this extremely bad practice, it could have serious repercussions for both you and those who have implemented your advice.

Providing poor advice can be extremely detrimental to a client’s finances and could result in a costly litigation process. While professional indemnity insurance may provide financial stability, your reputation could be permanently damaged. Referrals from existing clients can be an important source of new business, however, this will only happen if you’re providing valuable and trustworthy advice.

You should take the time to build a close relationship with clients and fully understand what they hope to achieve from their finances; this may involve several stages but it’s important in ensuring you provide the best possible service.

Pushy tactics backed by a quick-sale mentality have no place in financial services, where trust is paramount, and will often alienate prospective clients. Remember, your success as a financial adviser is judged on the success of your clients, and the best method of retention is simply to provide practical and honest advice.

If you’re interested in finding out more about how we work and our attitude to client relationships, our 6-stage client journey is outlined here. If you have any other queries, please do not hesitate to get in touch to speak to a member of our business development team.

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