Sunday, February 3, 2008

A Reminder for Advisers

Someone posted this in my Blog: (I had made some modification)

* Adrian, how many of your clients are rich and can splurge on low return and expensive traditional products.
* When you mentioned the word 'needs' i think you are confused with 'want'.
* Example. client tells you i cannot take risk or i prefer something with saving. The client is actually is expressing a want or a wish or a desire. This is not needs.This is where you make the difference as a planner, an adviser and not an insurance salesman.
* Secondly, client is in no position to know which is better for them. You, their adviser is an expert, should advise which is better for them. Often clients are advising themselves.
* It is sad that agents sell according to the wishes of the clients.
* The problem is agents don't work harder for their client. They just give what the customers want. Worse, most of the clients are poor people who need a lot of help to give the best run for their money so that they can achieve some kind of financial independence.
* Do you know $20 can give a coverage of $500,000? Which is better for the client? How much saving and coverage can you get with $20 for a whole life?

1) Its a good comment to remind advisers to work harder for clients' interest.
2) Planner should build up trust during the Fact-Finding process.
3) We must also be firm during the Recommendation/Implementation process
4) When Clients see your professionalism, they will most likely take your recommedation.
5) When they know that you work for their interest, long-term trust comes about. You can ask for referrals.
6) However, not every client is the same. It is virtually impossible to use the same approach for every individual. Different type of plans might still be used to achieve the needs of the client.


Anonymous said...

There you are , Adrain, you found yourself an excuse, to escape from your inadeqaucy ?.You said you would stand firm but you 'lembeh' in item 6.There should be no compromise in your advisory work. The customer must always be first then your interest.
Take a leaf from Dr. Tay's sharing.

Helmi Hakim said...

All you people out there are very very lucky to have Adrian engaging a cogent, mind blogging discussion with you despite the never ending, biased and prejudice statements.

If comes to me, I will ignore you, and let you entertain your own thoughts...

I will let you "shiok sendiri" and gasped at how much you are missing by being soooo...narrow minded. :)

Khiat Han Hwee Adrian said...

We are dealing with humans, not robots or machines. I have no intention to engage in an endless debate due to time constraint.

I do not know the identity of Mr Anonymous but you do have good knowledge and I enjoy seeing your comments. Thank you for visiting my blog.

I am not a perfect adviser. Every constructive comment is precious and I shall use them to improve myself.

Anonymous said...

Wow! mind boggling bbblogging and cogent, co agents discussion.Very "CHIMP" for me and they gasp me with with a gasping gap.Maybe because it is prejudicial to your interest of your narrow understand of this mind boggling blogging , so chimp suject as finance. Wow!