"The Conscientious AdvisorSM: A New Paradigm in Wealth Management Sales" co-written by
"It's clear to us that since 2008 high net worth investors have become more skeptical about our financial system. What these investors want and need in a trusted advisor has changed dramatically. Our paper offers some insights into what Conscientious Advisors—and their companies—must do to better serve these clients," said Nickl.
In addition to retaining and winning new business, companies that adopt the Conscientious Advisor/Conscientious Platform model stand to benefit in other ways. "
Nickl contends that a Conscientious Advisor shows:
- Commitment: Cares about clients and focuses on empathy, listening, over-preparing for every client interaction
- Collaboration: As part of a team over-prepares for each meeting and offers holistic solutions, not product
- Credibility: Asks the right questions, exhibits professionalism and transparency that reinforce one's personal brand
- Consistency: Follows repeatable processes, executes flawlessly, always follows up and always follows through
Just as importantly, Nickl adds, firms must do their part to support their advisors with a conscientious platform that promotes and rewards conscientiousness through:
- A defined, repeatable sales process
- A "think tank" model for developing solutions for clients
- Organizational commitment to advisor success
- Technology and organizational infrastructure
To read the white paper in its entirety please visit BNY Mellon Wealth Management's website at: http://bit.ly/1033hel.
BNY Mellon Wealth Management is among the nation's leading wealth managers, with more than two centuries of experience in providing investment management, wealth and estate planning, and private banking services to financially successful individuals and families, their family offices and business enterprises, charitable gift programs, and endowments and foundations. It is among the top 10 U.S. wealth managers with more than
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