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Money Marketing Interactive 2022 Thursday 29 September 2022
etc. venues, 133 Houndsditch, EC3A 7BX
Photographer: David Berman

Things got personal in our second Money Marketing Interactive of the year.

Emmanuel Ascuo, keynote speaker at the event in Houndsditch on Sept. 29, asked advisors to share their lived experiences with clients to help them reach their financial goals. Said I should.

Asuquo, a partner at Belvedere Wealth Management, says this allows him to focus on the main reasons clients seek advice. He said most clients misunderstand financial advice, assuming that an adviser’s job is to make them rich.

Financial wellbeing is not a fad. It’s not just about how you sell your products.it’s a fundamental change

“They thought we were the national lottery and suddenly we had a great stock that they could put their money into and get rich.

“They come to our office on Yellow Brick Road and think we’ll fix the problem. But we’re not the Wizard of Oz,” Asko said.

share the “why”

He said it’s a financial advisor’s job to demystify the entire process for clients and assist them in their financial journey. It was to share the experience.

“For me it’s about understanding your ‘why’ and motivation. Sharing with clients what motivates them helps us understand their ‘why’,” he said.

“Once you know why they do it and it becomes personal to them, it’s much easier to make the changes and sacrifices necessary to get where they’re going. We want to share the “why” with prospects. “

With many older advisors retiring and a huge bank of clients, there is a huge opportunity for younger advisors.

A father of four, he said his children were his “why” and the main reason he woke him up every morning.

Prior to that, his motivation was to move out of the municipal housing where he grew up and retire his mother, who worked as a dinner lady.

“I’m glad I did it. My mother said I was a pensioner and she was right. I now call her Mystic Meg.”

Asuquo told representatives of the advisors gathered that the personal story was related to the client.

“It’s all about the conversation with the client. We spend that time building trust and helping them understand why they need to cut spending or increase pension contributions.

We see a massive trend of paraplanners who don’t want to be development advisors, but want a client-facing role.

“If they don’t understand the ‘why’, it becomes very difficult to change the situation.”

It may be a new situation for clients, but it may be old for advisors who have seen similar things many times, he added.

financial well-being

Money Marketing Interactive 2022 Thursday 29 September 2022
etc. venues, 133 Houndsditch, EC3A 7BX
Photographer: David Berman

Another hot topic at MMI was financial well-being. Chris Budd, founder of the Financial Welfare Institute, said this was “not about marketing.”

he said:

If you don’t have time to train in-house, consider outsourcing a bit

“I’ve worked with several companies over the past few years through their labs. You always know when the conversation stops because you’re only invited to speak to the marketing department, not the training department.

“Financial wellbeing is not a fad. It is not just a way to sell products. This is a fundamental change.”

Budd explained that financial well-being is both money and client well-being.

he said: We talk about results, usually financial ones. What’s the point of advisors if we’re not trying to help people be happier?”

Budd told the audience that financial advice professionals are increasingly moving towards financial wellbeing.

Make people aware of your industry by speaking in local communities, schools and universities

“The theory of money and happiness is what makes us happy. I got

“Your role as an advisor is to help clients get to know themselves. That means learning how to listen and learning how to ask questions.”

FA2B

There was also a panel discussion on building the financial profession of the future. Panelists included Lewis Byford, co-founder of Anthony George Recruitment. London Institute of Banking & Finance Business Development Manager Richard Cooper. Jack Tailby, Independent Financial Advisor, Elevation Wealth Management.

They discussed how companies can attract new hires, create trainee advisor programs, and outsource recruitment.

Young advisors are clearly in the best position to talk to their children and grandchildren

“Make people aware of your industry by speaking in your local community, schools and colleges. Bring in young people and quickly turn to paraplanners for advice,” Byford says.

“We are seeing a massive trend of paraplanners not wanting to be development advisors, but wanting a customer-facing role.

“We have academies that help our advisors not only with their knowledge base, but also with their skill base. So if you don’t have time to train in-house, consider outsourcing a bit.”

Cooper pointed out that this helps because smaller advice firms don’t have the resources and time to put it into a structured program.

He added: Mergers have also resulted in more clients wanting to move to find advisors.

Your role is to help clients get to know themselves.It means learning how to listen and learning how to ask questions

“If ever there was a time to develop an advisor to get to that next level, it is now, because the opportunities are endless.”

Tailby said: They have children and grandchildren and where does that wealth go? Young advisors are clearly in the best position to talk to their children and grandchildren.

“With many older advisors retiring and a huge client base, there is a huge opportunity for younger advisors.”

business lesson

Cathi Harrison, CEO of Verve Group, spoke about how companies can create a culture of excellence.

Sharing your motivations with clients helps them understand their “why”

She discussed the challenges of building a true business culture and offered some tips for CEOs. Be honest about what you want from your employees. We hire people who match the growth cycle of your company. So if your focus is on growth, hire someone who is very ambitious and not someone near the end of their career.

climate change

Money Marketing Interactive 2022 Thursday 29 September 2022
etc. venues, 133 Houndsditch, EC3A 7BX
Photographer: David Berman

Today, it’s nearly impossible to host an event without climate change. And MMI was no exception. Aegon’s Head of Responsible Investment, Hilkka Komulainen, said investors were less likely to view their investments as a means of helping build a more sustainable and inclusive society. They are much more likely to do things like try to cut down on single-use plastics and recycling, she said.

Build trust with clients and take time to help them understand why they need to cut spending or increase pension contributions

Louisiana Sarge, Senior Sustainability Specialist at EQ Investors, spoke about how advisors should respond to the climate crisis. A lot of people hadn’t given it a second thought, she said.

But investments can make a meaningful contribution to combating climate change. And it is essential if we are to have any hope of keeping global warming below 2°C.

heard on MMI

“People are more likely to say they are looking for ways to do something about climate change in their daily lives than anything else. Only 9% are thinking about how to invest their savings.”

Hilkka Komulainen, Head of Responsible Investment, Aegon UK

“It no longer matters what you think is right. It’s what you would do if you were that client. That’s the shift in focus.”

Chris Davies, Executive Director, Howden Insurance Brokers

“We never talk about client happiness. We talk about results, but usually financial results. what is it?”

Chris Budd, founder of the Institute for Financial Wellbeing, said:

“Our clients think of our advisors as a national lottery, but suddenly we have a great stock that they can invest in and get rich. We are not the Wizard of Oz.”

Emmanuel Asuquo, Financial Advisor, Television Personality

“Staff stop accepting beanbags and slides in the company.

Kathy Harrison, Chief Executive Officer of Verve Group, said:

“We need to have a plan for the consumer tax by the end of October. Basically sit down at board level and say, ‘Yeah, this is what we need to be able to say we’re doing.’ Do we do them well? Most of the time we did, but not always.”

Fiona Tate, Technical Director, Intelligent Pensions





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