How To Achieve Success As A Financial Advisor - Pocket Risk


Helping Financial Advisors Know Their Clients – Risk Profiling, Client Psychology, Behavioral Finance, Compliance

How To Achieve Success As A Financial Advisor

Financial Advisor

To master the art of marketing, one must go through a trial-and-error process as marketing skills don’t come naturally. It often becomes more challenging for financial advisors to work “in” their own business and investment than to working “on” other’s business and investment.

To achieve success in financial advisory and to get more clients, consider the following tips:

Make Goals And Achieve Them

Setting goals is vital than anything. If reasonable goals are set, all marketing, planning, and ideas will fall into one place. We have seen some people work very hard yet get nothing while others do little and much everything. Also, some people seem to have “magical luck.” The difference between all of them is nothing but goals. When people know where they want to be in the future, they reach there. It’s natural, simple, and accurate.

Know Your Market

As a financial advisor, you know your ideal client, their demographics (age, locale, profession, age), along with their psychographics. It is not ideal for making everyone your target market as this will cause failure. Finding the right niche for you will make you achieve success. Therefore, know what type of people you want to work for.

For instance, most financial advisors work for retirees, executives, entrepreneurs, and widows. Widen up your vision and start looking for other potential clients like engineers, plumbers, technicians, etc.

Have Faith In Yourself

Know your worth. Nothing will work if you don’t have confidence in yourself. Don’t be afraid of rejections. Think that you are the only one who can help the client, and if the clients refuse your offer, they will be at a disadvantage. Confidence and trust in oneself are essential but not without marketing. You should not be afraid of reaching as many prospects as possible.

Try To Read Your Client’s Mind

When you have clients, try to understand them before advising them. Know that the future financial condition of your clients depends entirely upon you. So, make wise choices instead of making quick choices.

For this, we suggest you provide your clients with risk tolerance questionnaires. The questionnaires will let you know how much risk your clients can tolerate. With this, you will be able to advise them better. Plus, you don’t have to prepare questionnaires yourself. Visit Pocket Risk, get financial profiles software for financial planning, and that’s it. Pocket Risk provides research-based questionnaires for financial advisors so that they can know their client’s minds. For software for financial advisors, Pocket Risk has three different packages with 14 days free trial. So, visit Pocket Risk and get the best of the best.

Get Socialized With Your Clients

Having a good relationship with your client is perfect for your business and the client’s investment plans. Wish your clients their birthdays and send them cards on occasions. When you show care and respect to your client, the client will have a soft spot for you and develop different trust.

Encourage Constructive Criticism

According to research, 60% of unhappy clients will never complain. Another study suggests that a service provider will never hear complaints from 96% of unhappy clients, but 70% will purchase a product/service again if the complaints are made and resolved. Therefore, always encourage your clients to provide feedback. If they do, work on those feedbacks and improve your practice.

Response And Results Are Two Different Things

When marketing, understand the difference between response and results. When you do marketing, you want to get conversions, aka results. Response means that people are aware of your marketing, but it’s worth nothing if those people aren’t becoming your clients.


Financial advisory demands responsibility. As a financial advisor, you know how your client’s investments, strategies, business, and economic condition depend upon you. A good financial advisor is the one who can make their client achieve wonders.