Professionalism

By Lee Rossini 

Now more than ever, the need for professional behavior is at an all-time high. Clients are at their most vulnerable and many are looking to their financial advisers for professional guidance and support. A professional is a person engaged or qualified in a profession and earns their living from a specified professional activity and the providing of financial advice fits into this definition. By extension, being professional in a work context implies that others (including your colleagues, employees and clients) will think of you as competent, reliable and respectful.  

Considering these points above, what are some of the actions and behaviours that will ensure that your image and reputation, in the mind of a client, is that of a consummate professional? 

1. Put the best interests of your client first – take the time to really listen to the concerns, fears and anxieties of your client especially during this very challenging time. If you truly listen, many of their fears and anxieties will be intertwined with their financial circumstances.
   
   
2. Focus on being an expert in a targeted area that will be of interest and use to your clients – use any extra time you may have available during the lockdown to further hone your knowledge and skills. The hallmark of a professional is to acknowledge when they do not know the answer to a question, to find out the necessary information from a person who has the requisite knowledge and then to timeously report back to the client with the answer.
   
   
3. Do more than expected – now is the time to go the extra mile for your clients. This includes communicating with them on what is happening in the markets and in their portfolios, making personal phone calls (especially to vulnerable clients, both financially and health wise), to check in with them and when a client is ready, planning a way forward together.
   
   
4. Always do what you say – if a client asks a specific question or has a concern, always get back to them within a reasonable period. Nothing looks more unprofessional than saying you will find out an answer or source information for a client and then not doing it. This includes never promising something to a client that you cannot deliver. Professionals deliver on promises made and if they can’t, they communicate this to the client.
   
   
5. Communicate effectively – clients are usually drawn to financial advisers who communicate well. This includes taking the time to explain the options available, the costs involved and providing an explanation and solid reasons for any recommendations made including when replacement products are suggested (as required by the Record of Advice, see General Code of Conduct for Authorised Financial Services Providers and Representatives). Your recommendations should include the rationale and thinking behind the recommendations and how they will align with the identified needs, goals and objectives of the client. Effective communication is your responsibility, not the client’s. Professionals communicate in a clear, concise, thorough and accurate manner that is accessible to, and understood, by the client.
   
   
6. Follow guiding principles – in addition to the legislative requirements and principles of the codes of ethics or professional standards that may apply to you in a professional capacity, find and follow your own moral compass.  Be honest and fair in your dealings with clients and others. Professionals must always act ethically and demonstrate a high standard of ethical behavior. Share your knowledge – be generous with sharing your knowledge with colleagues, employees and clients. There is so much information available today that knowledge, experience and how it can be applied has currency. Professionals are respected for their depth of knowledge and there is no reason not to share this with others. 
   
   
7. Maintaining a good attitude - it is a mark of a professional to always maintain a professional and friendly attitude even in these very difficult times.   

Working with a professional is a rewarding experience for a client. Think of other professionals you have previously engaged with and been impressed by their level of professionalism and if need be, emulate their behavior. Think about and if necessary, ask your clients whether they perceive you to be professional. There are financial advisers who like to be called a professional without having to work and act like one. An unprofessional image can lead to problems for yourself and your company. As a negative image, reputation or perception are difficult to shake off, recognise any shortcomings and begin working on projecting a more professional image today, it will be worthwhile in the long run.