why\u00a0<\/em>behind your recommendations and have confidence your advice is objective and reasonable.<\/p>\r\n\r\n\r\n\r\nDemonstrating Security<\/h4>\r\n\r\n\r\n\r\n
Personal, comprehensive financial planning requires the client to give out a lot of sensitive information about their lives. Understandably, many clients worry how their information will be used and where it will be stored. Being proactive and transparent about your security protocols can help overcome this barrier to entry while demonstrating that you have done your due diligence to safeguard their sensitive data.<\/p>\r\n\r\n\r\n\r\n
If you’re using safe, secure document storage, explain to clients how this works and assure them you’ll be handling their data with care. You can also communicate the value of having their up-to-date personal or family and account information, both for streamlined onboarding and faster and more accurate plan development in the future. Talking to clients about how you’ll take care of their data, and why it’s important, shows you’re attuned to their concerns and improves the transparency of the relationship.<\/p>\r\n\r\n\r\n\r\n
Setting and Delivering on Expectations<\/h4>\r\n\r\n\r\n\r\n
Setting clear and honest expectations for the relationship up front is an important aspect of transparency. It starts with your digital brand\u2014communicating what makes your firm different and what you can offer clients that nobody else can. It’s also important to establish expectations at the beginning of the relationship. This sets the framework for the whole scope of planning services. One powerful way to do this is to share educational content with clients.<\/p>\r\n\r\n\r\n\r\n
It’s not enough to simply set expectations, however. You have to deliver on them. When clients see their experience is in alignment with the way you’ve outlined it\u2014essentially that you’ve kept your promises to them\u2014they’ll be more open to your advice and to collaborating with you. Delivering on expectations demystifies the process of planning and improves transparency by showing clients exactly how you intend to help them and partner with them in achieving their goals.<\/p>\r\n\r\n\r\n\r\n
Offering a Suite of Financial Planning Solutions<\/h4>\r\n\r\n\r\n\r\n
A 25-year old needs much different advice than a 65-year old. Being transparent also means being able to help clients at every step of their financial journey.<\/p>\r\n\r\n\r\n\r\n
Offering both basic and advanced planning services is a way to ensure you can help all of your clients, regardless of where they are in their financial life cycles. This kind of technology scales with their needs, so at any time, you can be prepared to loop them into the planning process and work with them to achieve their most important personal and financial goals. It increases transparency by keeping the process open, collaborative, and personalized to their unique circumstances.<\/p>\r\n\r\n\r\n\r\n