The onboarding process is often a financial professional’s first meaningful engagement with a new client, making it a perfect opportunity to establish foundational trust.

Trust is the bedrock of any successful client relationship, and actively building it starts with first impressions established during the onboarding process. We earn deeper and more meaningful trust only over time through consistently applying several activities. However, onboarding opportunities happen only once, and client takeaways can dictate the relationship’s trajectory.

Start Building Trust Though Seamless Onboarding

Onboarding is more than just an opportunity to gather financial data. During this time, you can foster the beginnings of a positive relationship that encourages clients to be more engaged and committed to your long-term partnership in their financial journey. However, the process should be made easy for the client, which signals to them that you value their time and effort.

Key activities of the onboarding process that are opportunities to build trust:

• Have a thorough and honest initial consultation. Begin the relationship by reviewing your philosophy and processes, and all aspects of the client’s financial situation, including their goals and values. Exhibit trustworthiness by making this a seamless and secure effort for the client, ideally with the help of a client portal.
• Listen to the client’s goals, concerns, and financial situation. This shows that you are genuinely interested in understanding their needs. Exhibit trustworthiness by actively listening so the client feels heard right from the beginning of the relationship.
• Ask open-ended questions. These questions encourage clients to share more detailed information and insights into their financial mindset and their own goals and values. However, the onboarding process means asking a ton of qualitative as well as quantitative questions—and this can be pretty stressful for the client. Research shows it can be less stressful for clients, if the planner gets the information with statements as opposed to questions.¹ To garner information from clients use statements with follow-up prompts. For example, instead of “What are you planning to do in retirement…” try a statement, like, “Tell me what a day looks likes like during retirement…” This may give clients more room to respond and keep stress and anxiety in check.

Don’t forget to keep the client engaged and connected by using encouraging follow-up prompts such as “Tell me more,” and “What else?” In doing so, you are showing a determination to understand the client’s unique situation, which is important when building trust.

Five Ways to Building Trust with Clients

We earn trust through specific actions we can apply to most interpersonal relationships. As financial planners, we can group these foundational activities as:

1. Transparency and integrity
2. Engagement
3. Personalization
4. Collaboration and education
5. Consistency

Applying the Five Ways of Building Trust to Onboarding

Financial planners can apply these actions to the onboarding process as a jumping off point for the relationship.

Transparency and Integrity

By clearly outlining expectations, providing full disclosure, and committing to acting in the client’s best interests, planners help create an environment where clients feel confident and secure. Transparency in all its various forms is a key driver of trust.

• Be clear when explaining services, including fees, compensation, planning activities, deliverables, and investment strategies. Clients appreciate honesty and openness about where their money is going. Providing a detailed breakdown of fees can help clients understand the cost structure and value they are receiving.
• Disclose any conflicts of interest. Talk openly about anything that may be perceived as a conflict of interest—perceptions are reality when it comes to trust. For example, if you receive compensation for recommending certain services, you should openly explain the incentive to ensure the client is fully informed.
• Adopt a fiduciary mindset. Align advice solely with the client’s best interests. For instance, you can demonstrate this by recommending products that suit the client’s financial goals, even if those products yield lower commissions for the planner.
• Allow insights into the plan through a client portal. A client dashboard can show clients up-to-date portfolio performance, transaction details, and next steps so they always feel in control of the plan. This fosters trust and lets clients track their progress.

Engagement

Establishing a deeper connection through each engagement helps a planner tailor their communication strategies to meet the unique needs of each client. When clients feel understood they feel valued, and they are more likely to engage confidently in the financial planning process, making this a significant factor in ensuring a trustworthy experience.

• Remember the 7 percent rule when communicating with clients:
  • 7 percent of the meaning is in the words that are spoken.
  • 38 percent of the meaning is paralinguistic (how words are said).
  • 55 percent of meaning is in facial expression.
• Prioritize active listening over talking to build rapport and uncover deeper concerns. Here’s a good rule of thumb—the 43:57 principle. It represents the talking-to-listening ratio that makes for a great conversation, whether you are at a social event or in a business meeting with a client. In general, you should be talking about 43 percent of the time and listening to clients talk 57 percent of the time.
• Communicate regularly by updating clients on their portfolio’s performance and any changes in the market. Providing consistent updates builds confidence and transparency. For example, sending performance snapshots or market newsletters on a weekly or monthly basis ensures clients are always informed.
• Be accessible and responsive to questions so clients build confidence in you. Sharing good (and bad news) is all part of the conversation. For example, acknowledging a period of market volatility with reassurances and clear action steps can ease concerns.
• Be clear about task management. Links to a service calendar can clarify exactly who is doing what and when. This can ensure clients are aware of upcoming tasks or meetings, such as quarterly portfolio reviews or scheduled planning sessions.
• Know the client’s communication preferences and style. Do they like face-to-face, virtual calls, texts, or emails? A client who prefers text updates might feel overwhelmed by frequent calls, so tailoring communication accordingly enhances satisfaction.
• Know how the client consumes information. What is their learning style? Visual? Audio? Read/write? Kinesthetic? For example, a kinesthetic learner might benefit from a hands-on demonstration or interactive task in a client portal to understand their portfolio strategies.
• Know how the client will take action and any barriers in their way. Do they want bullet points or a dissertation? Are they one to decide right here and now, or do they like to think about it? If a client prefers bullet points, sending concise summaries of recommendations can help them act decisively and efficiently.

Personalization

Personalization is the key to delivering exceptional financial advising experiences. By tailoring advice and services to align with each client’s unique situation, goals, and preferences, planners can create a sense of trust, value, and long-term loyalty.

• Customize advice to each client’s unique financial situation, goals, and risk tolerance. Hyper-personalization allows planners to cater to specific circumstances, where every detail is customized to suit individual preferences. For example, you might create bespoke investment portfolios for clients based on their current assets, long-term retirement goals, and comfort with market fluctuations.
• Personalized service shows that the financial professional truly understands and cares about the client’s needs. When clients see that you’ve taken the time to deeply understand their financial priorities, they feel valued and supported. For instance, recommending solutions tailored to a client’s life stage (e.g., funding their child’s education or preparing for retirement) emphasizes the planner’s commitment to walking alongside them in their unique journey.

Collaboration and Education

Research shows collaboration and education are foundational for building stronger client relationships and a sense of empowerment, which fosters trust. By bridging financial literacy gaps and involving clients in the planning process, planners can ensure that clients feel informed, confident, and engaged in their financial journey.

• Clients are eager for financial insights and education from various sources. Offering clients simple, digestible explanations of financial topics can enable them to make informed decisions. For example, webinars on key concepts like budgeting or investing can provide added value.
• Empower clients by educating them about financial concepts and strategies. Avoid industry jargon and provide plain, clear explanations. Using relatable analogies to explain complex investment strategies can make the concepts understandable and actionable.
• When clients understand the rationale behind decisions, they feel more secure. This ties closely to transparency. For example, sharing the reasoning behind a suggestion for an asset reallocation during a market shift can help clients remain confident in your expertise.
• Clients want to be a part of the planning process—not just recipients. Collaboration builds ownership and trust. For example:
  • Avoid overanalyzing multiple scenarios that could overwhelm the client. Instead, help them commit to one clear, actionable plan.
  • Emphasize that financial planning is an ongoing process, not a one-time event. A commitment to regular check-ins can reinforce this perspective.
• Interactive planning tools can reinforce collaboration. Features such as scenario simulations, visual dashboards, or progress tracking in client portals can engage clients and make the process more dynamic. For example, allowing clients to tweak variables within a retirement calculator gives them a hands-on role in visualizing outcomes.

Consistency

Consistency is crucial for building and especially in maintaining trust in client-planner relationships. By consistently following through on commitments and delivering reliable results, planners can strengthen their reputation for dependability and instill confidence in their clients.

• Follow through on commitments. Honor promises and meet deadlines to reinforce dependability. For instance, if you promise to provide a detailed portfolio review by a certain date, ensure it is delivered as scheduled.
• Deliver consistent high-quality results and maintain a steady approach. A steady, reliable approach in both advising and communication helps build client confidence. For example, maintaining regular update meetings or annual reviews regardless of market conditions illustrates a dependable planning process.
• Reliability over time fosters trust. Clients need reassurance that their planner will be there for the long haul. Continuously meeting or exceeding expectations over time solidifies trust and demonstrates a lasting commitment to their financial well-being.

After Onboarding, Continue to Prioritize Trust

The onboarding process is a microcosm of the overall financial planning relationship, showcasing your ability to communicate, connect, and collaborate meaningfully with their clients. By investing time and effort into creating seamless, personalized experiences tailored to each client’s values and goals, financial planners can demonstrate their commitment to transparency, trust, and mutual understanding.

Apply the five-step approach to other areas of your client experience to continue to build trust. You may find that the foundation set in motion during your onboarding process often paves the way for a productive, loyal, and lasting partnership.

To learn more about prioritizing trust in your practice, read our blog post, The Intersection of Trust, Collaboration, and Technology in Financial Planning.

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DISCLAIMER: The eMoney Advisor Blog is meant as an educational and informative resource for financial professionals and individuals alike. It is not meant to be, and should not be taken as financial, legal, tax or other professional advice. Those seeking professional advice may do so by consulting with a professional advisor. eMoney Advisor will not be liable for any actions you may take based on the content of this blog.

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