Humanize Your Advisory Team Value Proposition

If crafting a dynamic value proposition was easy, every financial advisory team would have a great one.  Unfortunately, only a small percentage of advisory teams have succeeded in articulating a value proposition that is relevant to modern day investors.

There is a tendency among advisory teams to focus value proposition language on their functional assets or “hard skills.”  While a team’s collective analytical expertise and experience is important, it rarely rises to the level of being meaningful differentiators because hard skills are too often easily replicated and even exceeded by competing teams.

Infuse Emotion Into Your Messaging

For an advisory team value proposition to be truly impactful, it must resonate with investors in ways that extend beyond the boundaries of cognitive reasoning.  An April, 2017 study by the CFA Institute revealed that in the coming years, “softer” skills such as relationship building and interpersonal communication will be valued by clients more than a team’s technical capabilities.  Teams will not only have to be analytically astute, but also capable of humanizing the wealth management process in ways that connect with clients on a genuine emotional level.

The best value propositions communicate a sense of authentic empathy that speaks directly to a client’s unique needs, fears, aspirations and values.  It contains language that conveys not only how much your teams knows, but more importantly, how much it cares for them.  Clients often forget what you say but they always remember how you made them feel.

Investors today are seeking more than just a cerebral explanation of your team’s wealth management process.  They can get that information from robo advisors.  What investors really want is an understanding of how your team will personalize the products and services you offer according to their unique situations.  By humanizing your value proposition messaging, you enhance your team’s ability to connect with those you serve on a deeper, more intimate level that builds stronger and longer lasting relationships.

How To Connect On An Emotional Level

So how does a team created humanistic value proposition content?  There is no one, simple answer.  Rather than inviting clients to your office, you might consider visiting them first at their homes or work locations to better assess the environments in which they feel most comfortable.  Facilitate as many face-to-face communications as possible because handshakes and smiles make stronger connections than emails or phone calls.  Ask questions that elicit an emotional response from clients and your team will gain greater clarity of the people and things they value most.  Last but not least, remember that empathy is a two-way street.  Clients that feel their advisory team is emotionally connected to them will return the favor in kind.

Unless an advisory team has the good fortune of having a skilled writer on staff with value proposition experience, composing one in-house is almost an impossible task.  Smart teams usually contract the project out to individuals or firms that perform this highly specialized messaging work.  It’s also important to remember that as team evolves, so should its value proposition.  Updating or amending it periodically should be the rule, not the exception.

If your team’s value proposition is structured to appeal to everyone, chances are strong it will resonate with no one.  Narrowing your target market to a niche of clients that would best benefit from your team’s unique capabilities is another way to assure the success of your value proposition.  Next month’s Coach’s Corner will offers insights on how to identity and reach your team’s best prospects.

Learn More

Like this tip?  We have guided numerous financial advisors in creating a customized Value Proposition for their team.  Our proprietary process is designed specifically for financial advisory practices. Creating a powerful, effective Value Proposition can be a daunting task, to find out how we can help, please Contact us today

Altius Learning

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