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Written by: Jack Giardino | Inflection Point Wealth Advice
As most financial planners, my inbox is consistently being filled with articles, webinars, and invitations to “learn more” about the latest industry trends. Whether it’s how to (potentially) improve portfolio returns by including alternatives or private equity in clients’ investment allocation, attracting high-net-worth clients through charitable giving strategies, or utilizing artificial intelligence to super charge the growth of our practice, the focus is often on strategy.
While I’ll be the first to admit staying educated on the latest strategy is important, I don’t believe it should take center stage. Instead, it is the ability to deliver exceptional service that sets the best financial planners apart.
Service as the Foundation of Trust
At its core, financial planning is a people-centric profession. Clients seek financial planners not just for their expertise, but for the reassurance that someone is genuinely invested in their financial well-being. Service, or I should say, exceptional service, is the bridge that builds trust, fosters loyalty, and deepens relationships.
If you fall in the camp of the majority of financial planners, your new business likely comes through referrals from current clients. I would argue this isn’t because they boast about your ability to execute complex strategies but because they trust you and feel confident referring others to someone who makes them feel valued, understood, and provides a high level of services that they don’t receive elsewhere.
Consider this: I don’t go to my dentist because they advertise the latest cavity-filling technology or boast about their cutting-edge equipment that reduces cleaning time (though I wouldn’t mind shorter visits). I go to my dentist because someone I trust referred me, and when I visited, I felt comfortable and confident in their expertise. The trust I place in their care stems from the level of service I receive, not their technical knowledge.
Service Enhances Strategy
While strategy is about creating solutions, service ensures those solutions are implemented effectively and efficiently. I would argue that it’s extremely difficult to set yourself apart from other financial planners solely based on strategy. Most financial planners are talking through the same strategies just in a different manner. However, I do believe it’s easy to set yourself apart from other financial planners solely based on service.
I challenge you to think of the last time you experienced exceptional service. No, I’m not talking about somebody who did what they said they were going to do, but somebody who went above and beyond to make you feel understood, important, and valued.
With this experience at the top of your mind, what was it that they did? Chances are, it wasn’t a grand or complicated gesture. It was likely something simple, hardly noticeable to an outsider, but it made a world of difference to you.
Now apply this to financial planning. Exceptional service could mean taking extra time to explain a complex concept in a way your client understands or remembering a personal detail about their family and following up. It’s these thoughtful actions that turn strategies into experiences and plans into partnerships.
How to Elevate Your Service
Truly exceptional service isn’t about grand gestures, it’s about consistency, attentiveness, and personalization. Here are a few simple ways to elevate the service you provide:
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Respond Promptly - Returning all communication on the same day, whether it’s an email, phone call, or text, shows clients you truly prioritize their concerns.
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Personalize your Responses - Instead of replying to an email with a lengthy explanation, consider making a call to chat through the details and then follow up with the more in-depth email explanation. (Bonus points if you tailor your responses to your clients learning style.)
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Anticipate Needs - Don’t wait to hear from your clients but proactively reach out to see what might be on their minds.
The Long-Term Value of Exceptional Service
In an industry where trust and reputation are important, exceptional service has a truly compounding effect. As I was told early on in my career, clients don’t care about what you know, they care about how you make them feel. Clients who feel valued are more likely to stay with you over the long term and often become your biggest advocates!
At the end of the day, financial planning is about more than just numbers, it’s about people. Strategy may help you craft solutions, but it’s service that ensures those solutions resonate with your clients. By leading with service, you build trust, create lasting relationships, and position yourself as a financial planner who truly cares.
Exceptional service isn’t just the foundation of a successful practice, it’s the key to making a lasting impact on your clients’ lives.
Related: The Importance of Professional Networking as a Young Financial Planner