Advisers often struggle to articulate their point of difference, yet they usually can easily express well thought out beliefs and philosophies about money and planning.
So most advisers think carefully about such things and build up a philosophy based upon their formal learning and real world experience that shapes their advice and work for clients.
But then they don’t use that belief system – or philosophy – in identifying a point of difference.
The differing philosophies amongst advisers do in themselves become points of differentiation amongst the advisers. You’ve all seen the scenario where a case study can be given to a group of advisers with similar qualifications and standing who will then come up with 10 entirely different approaches to solving the client problem – and all of them have validity. All of the different approaches are rooted in different beliefs and strategies….but the key point is that they are different.
Consumers will often be looking to work with advisers who share similar belief systems or philosophies, yet these are rarely promoted actively or even highlighted in a way that might make it relatively easy for consumers to discover what you as a professional think, or how you view the world.
In this quick video we talk about this a little further, and use one example of a professional discipline where more than half a dozen different philosophies on how best to create and manage wealth would make a difference to many potential clients.
It is worth thinking about what your own philosophy is, and how you might articulate that – it could well be the point of difference that makes consumers choose you over the competition.