The Financial Planning Association (FPA) has launched an online education tool designed to help planners through the early trust building phase of a client relationship.
Called The Rules of Client Engagement, the program takes about two hours to complete and was designed by financial planning experts with the assistance of Sue Viskovic, and managing director of Elixir Consulting.
“This program explores the new world of how to engage well with clients and how to enhance adviser skills to build a solid foundation of trust and respect,” Viskovic said.
FPA chief executive Mark Rantall said research shows some relationships falter because at the engagement stage, planners fail to lay the necessary foundations of trust and understanding.
“It’s also about good client and planner protection because it’s an opportunity to clarify many of the misconceptions and confusions that lead to later problems,” Rantall said.
“It is not just about explaining your services or collecting client data, it’s about your client trusting you with their financial security and wellbeing. The FPA’s Code of Professional Practice has been built to emphasise the professional importance of these first interactions and has specific requirements about how to do it and this program is about making that come alive.”
The program includes audio commentary, taking financial planners through the various client engagement steps, enabling clients to feel confident they are dealing with a professional they can trust, according to the FPA.
