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Good financial planning top priority for clients

Nia Williams

April 18, 2013

The survey found that 38% of those surveyed wanted financial advisers to demonstrate a solid track record, 32% wanted an in-depth knowledge on a broad array of financial matters, 19% answered a hands-on approach to their financial planning strategy and 11% said it was “other factors” including cost transparency and personal rapport.

Nigel Green, founder and chief executive of the deVere Group, said: “The poll concludes that the number one thing that people are looking for in a financial adviser is someone who has, over time, consistently proven themselves to be able to devise a workable, holistic financial plan that allows their clients to achieve their long-term objectives.

“Additionally, most clients tell us that they obtain this information via personal recommendations from trusted colleagues, friends and relatives.”

Of the second most sought-after trait Green said: “The world has changed since the global crash of 2008 and today’s financial adviser is quite rightly expected to have a wider contextual insight of investments, markets and other external economic factors, and then be able to apply that knowledge to successfully implement a well-crafted financial strategy for their clients.”

Regarding the third most popular response to the question the deVere Group chief executive added: “Perhaps due to heightened expectations, a lingering degree of uncertainty about the global economy, and the fast-changing times and ever more interdependent world we’re living in, clients are increasingly demanding a more ‘hands-on’ approach from their financial advisers.

“They require more regular reviews of their financial planning to ensure they are still on-track to hit their goals and to see if there are more efficient ways to get where they want to go, as personal circumstances and the marketplace continually evolve.

“With this ‘hands-on’ approach in mind, many of our clients told us that they would, again to my mind quite rightly, be less than impressed if their financial adviser did not return their calls within a few hours.”

The deVere Group polled 483 of its existing and potential clients for this survey between mid March and mid April 2013.


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