Your Financial Adviser Must be an Educator

The vast majority of American consumers, investors and savers had little to no financial education. When a financial professional addresses Joe Q. Public (and it doesn’t matter if they’re financial advisers, insurance professionals or fiduciaries) they generally talk over their heads. The art of the sale isn’t in the pitch thrown at the consumer, but in the education of the product’s benefits. The value of a financial plan, whether simple or comprehensive isn’t in the calculations, but what the plan will do for you to make your retirement golden. That’s all about education.

One of the key characteristics of a financial adviser is his or her ability to covey a basic understanding of a concept or product feature without industrial language or acronyms, but with simple and compliant explanations that “impart” enough quality information to make a decision. Most advisers are pontificators who love to hear themselves speak with high voltage vocabulary while their client or prospect is too intimidated to ask questions. No one cares about the homiletic skill sets of a financial adviser or an insurance agent. You can be a great speaker and a lousy communicator. The goal of transmitting information is for your audience to get it on the first pass, not with mind numbing reiterations of the same facts and stats. Teachers are cultivated. They’re not parrots echoing the same industrial mantra. They’re nurturers that want to help the clientele learn money principles, products and financial plans. Keep interviewing financial advisers and insurance agents until you find someone who will teach you the fundamentals of money management. 

The greatest attribute of a financial adviser, insurance professional or fiduciary is the ability to teach at an elementary level. It’s truly an art for a financial professional to convey complex concepts in easy to understand bite-size portions that are instantly digestible. These are the best coaches. These are the best mentors. These are the best teachers