Today’s article will explain the main reasons why you should emphasize financial literacy in your practice, some tips on how to go about doing so and where Advizr can help.
You’ll sometimes hear soccer fans remark that people who don’t like the sport just don’t understand its strategy and intricacies. In other words, they don’t "get it."
If you want your clients to view your firm like the local Manchester United blokes view their team, they need to see you as the bridge between complexity and confusion and true financial literacy. But there is a lot of work to be done. A recent study found that only 15% of affluent Americans feel knowledgeable about financial products.
So what can you do? Emphasizing well-timed, relevant financial education can help clients better understand the value you add, and in turn, create stronger advisor-client relationships.