Financial Advisors: Highlighting What You’re Not May Lead to Better Clients

financial-advisors-highlight-what-youre-notProperly highlight your skills with these independent financial advisors tips

Want to build a trustworthy relationship with your client from the very start? Consider highlighting what you can and can’t do within the realm of finance. A mistake some financial advisors make it trying to be all things to their client, when they should be honing in on the specific areas they are knowledgeable and experienced in. Overselling one self and trying to navigate every financial need for your clients will often lead to disappointment and frustration, and can negatively impact your business in the long run.

So why should independent financial advisors convey their strengths (and weaknesses) to new clients without overselling or making promises they won’t be able to keep in the future? Here are three reasons:

1. You can quickly ruin the relationship with your client.

When bringing in a new client, it is important to clearly state the areas of finance and investing that you are skilled and experienced in. You may not have the experience or knowledge of every area the client is interested in, and this is okay.

In these situations, it is great to have a circle of trusted professionals you can call on to partner with in order to give the client the help they are looking for.
Once you oversell yourself in these situations and then cannot deliver on your promises, you risk hampering your client’s goals, ruining your reputation, and potentially losing a client.

2. You can impede the work you are doing for other clients.

Let’s say you oversold or overpromised yourself to Client A. You will most likely face enormous pressure to get the job at hand completed on time even though you have unrealistic standards set for yourself. Because you may have to devote a large amount of time to Client A, you may unintentionally delay work and communication with your other Client B, C and so on. Falling behind on several clients at once will not only lead to mental and emotional stress but could put you at risk of losing multiple clients and tarnishing your reputation.

3. You can diminish the quality of your business.

Spreading yourself too thin from overpromising and over committing usually results in the quality of your work diminishing. Poor quality and poor results can leave clients unhappy and unsure of continuing their business with you. This can also lead to negative word of mouth reviews, and potential breach in contracts if you aren’t able to adequately deliver what you were required to.

It is normal for financial advisors to want to impress potential clients. That being said, if you quickly sense you do not have the knowledge or time for the needs of a new client, consider partnering with one of your trusted experts mentioned above, or declining to work with the client. This will help you maintain the integrity of your business and reputation, and not add emotional or mental stress. In addition, you can gain respect from clients when they learn you are upfront and honest about your abilities, and see you are willing to find them the right person to partner with (if it isn’t you).

To find additional tips for financial advisors, visit Summit Brokerage. Summit Brokerage Services has been voted the #1 boutique independent broker dealer in the country. Let us show you why! To experience the Summit difference, learn more about our network of independent financial advisors, and begin creating your financial planning documents, visit or call us at (800) 354-5528.


About Summit Brokerage Services, Inc.

Summit Brokerage Services is part of Cetera Financial Group. Summit Brokerage provides a broad range of securities brokerage and investment services to primarily individual investors. Summit Brokerage also sells insurance products, predominantly fixed and variable annuities and life insurance through its subsidiary, SBS Insurance Agency of Florida. Summit Brokerage also provides asset management services through its investment advisor, Summit Financial Group, Inc.


About Cetera Financial Group

Cetera Financial Group® (“Cetera”) is a leading network of independent retail broker-dealers empowering the delivery of objective financial planning advice to individuals, families and company retirement plans across the country through trusted financial advisors and financial institutions.  Cetera is the second-largest independent financial advisor network in the nation by number of advisors, as well as a leading provider of retail services to the investment programs of banks and credit unions.

Through its multiple distinct firms, Cetera offers independent and institutions-based advisors the benefits of a large, established broker-dealer and registered investment adviser, while serving advisors and institutions in a way that is customized to their needs and aspirations.  Independent financial advisor support resources offered through Cetera include award-winning wealth management and financial planning and advisory platforms, comprehensive broker-dealer and registered investment adviser services, practice management support and innovative technology.  For more information, visit

*”Cetera Financial Group” refers to the network of retail independent broker-dealers encompassing, among others, Cetera Advisors, Cetera Advisor Networks, Cetera Financial Institutions, Cetera Financial Specialists, First Allied Securities, Girard Securities, and Summit Brokerage Services.


All information herein has been prepared solely for informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy.


Content created by Summit Brokerage Services, Inc.

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