The Top 6 Qualities of an Excellent Financial Planner

by | 22 Aug 2022

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Good quality financial advice is always highly sought-after, particularly in the current job climate where qualified and experienced financial planners are in short supply. So, what makes a great financial planner?

There is a long list of qualifications and expertise required to be a Financial Planner, and in the recruiting process, sometimes the softer/people skills can be overlooked, despite the fact that the personal qualities of an employee are often the most critical to their success in a role. Qualifications, experience and knowledge are important, but personal traits and characteristics are the real keys to success.

Whether you’re a business owner seeking to hire the perfect Financial Planner for your business, or a Financial Planner looking to find your ideal role, we’ve put a summary of the top 6 qualities we believe,  an excellent Financial Planner must possess.

  1. Passionate

We’ve all worked with someone before who just wants to show up and get paid, but the best employees are those that are the most passionate about what they do. A great financial planner should have a passion, not only for their craft –  Financial Planning and Wealth Management, but for their workplace, their team and their clients. The most successful financial planners are the ones who have an interest in expanding and exploring their knowledge of trends, processes and methodologies within the ever-evolving financial and investment landscapes.

Advisers need to be impassioned by helping their clients to achieve their financial goals and objectives, improving their financial well-being and, above all, doing so in the most ethical and compliant method. A truly principled adviser will always hold their client’s best interest at heart.

  1. Analytical

When it comes to creating a financial plan, there are many facets that must be considered, including cash flow, retirement, insurance, superannuation, investing, estate planning and tax, just to name a few. Not only should a Financial Planner be adept across all of these, but they should demonstrate strong analytical skills in order to strategically structure strong investment portfolios. The ability to measure performance while balancing the risk-return relationship is vital.

They need to be able to analyse all the options in the market and choose the best one for their particular client’s situation and needs.

  1. Growth Orientated

Running a business inevitably means that growth of the practice is often a key goal, which is why Financial Planners that are equally caring for their clients and strategically focused on the business are a key attribute to consider. Being able to promote their services across the entirety of a client’s portfolio is vital for the success and longevity of the financial planning business. And of course, great advice and service generally lead to great referrals.

A great Financial Planner will be able to identify the problem for a client, communicate the problem to them and ultimately provide a solution. 3. Forward Thinking?

Results from a Natixis Investment Managers survey of 34 of its experts show that one-quarter believe a recession is inevitable, while 64% see recession as a distinct possibility over the next six months. With talks of a looming recession, having an analytical and practical mindset will provide comfort to many turning to financial advisers to navigate the upcoming trials and tribulations set to hit the Australian market.

Financial Planners should be aware of changes in the market and future trends. This knowledge is key to ensuring a successful plan is in place and ensuring you are doing what is best for your clients. This forward-thinking will not only build client confidence in your practice but also provide much-needed peace of mind for many Australians unsure about the future.

  1. Genuine

Financial Planners must be consummate professionals that instil confidence and trust in their clients; this is a must-have skill in the industry. Putting the interests of clients first is crucial to building a trustworthy and successful business, so it makes sense that Financial Planners in the business reflect this trait.

Great Financial Planners are those that are genuine, place a strong emphasis on integrity and have the ability to align the financial interests of all parties by providing compliant, confidential and ethical advice. This not only protects your business, but builds customer loyalty, brand awareness and enhances your reputation.

  1. Curious

Curiosity should never be underrated, particularly for Financial Planners. Much of the work undertaken by a Financial Planner can be described as investigative. From detecting key issues and strategising solutions, curiosity is an incredibly valuable quality for successful Financial Planners.  They need to know about new products and offerings and keep abreast of the markets and current economic trends.

  1. Reputable

Financial advice should only be given by qualified and reputable Financial Planners. Being degree-qualified with additional financial planning-specific qualifications and accreditations in their areas of speciality is a big value-add for any business.  Hiring Financial Advice professionals with the right qualifications and impeccable reputation demonstrates integrity, maturity and skill while reinforcing the reliability of your business.

Great Financial Planners know how to keep a business moving forward while supporting their clients ethically and honestly. So when applying for a Financial Planning role or hiring your next Financial Planner, place an emphasis on being passionate, analytical, commercially focused, genuine, curious and reputable.

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