The financial planning industry in the 1980s was characterised by not enough regulation and too much emphasis on the soft skills – I know because I was there.
The industry attracted many naturally assertive people with a “gift of the gab” from all walks of life who were instantly called investment advisers. Barriers to entry were low, and commissions were a staggering eight per cent upfront.
The financial planning profession of 2016 is characterised by too much regulation and not enough emphasis on the soft skills – I know because I am here.
Today the profession attracts many naturally analytical people with a “gift for thinking” that study for a number of years before being able to practise as a financial planner.
The dichotomy for many entering our profession today who want to help people with their knowledge is their discomfort with the “selling” skills or soft skills of the last century. That’s okay, there is another way.
The soft skills of the 1980s and early 1990s included selling techniques, communication techniques, building rapport techniques and closing the sale techniques. They were all about how to convince people to buy, and buy from you. The focus was on me (the investment adviser), not you (the potential client).
In 2016, the soft skills are focused on understanding your true role with people and living it, embracing A Simple Truth, and exploring your intentions and mindset around what you do and why you do it. These skills are all about how to have a non-invasive, neutrally worded conversation with another human being. The focus is on you (the potential client) not me (the financial planner or hitting your KPIs).
It matters not whether people utilise the soft skills of the last century, or the even softer ones of this century. Either is appropriate provided you are coming from the right place.
Making it all about you not me is easy to say and hard to do. Use these three questions to begin the journey to always making it all about you not me:
- What are my intentions in the conversation I am about to have with this potential client?
- What is the real truth for me around this?
- Who is that really all about – me/my KPIs or you my potential client?
Noel Corley is the founder of The Knack Consultancy which helps people businesses engage with clients, potential clients, and each other in a relaxed, natural, personally satisfying, and commercially successful way.
