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Successful fiduciaries live their vision

Butsaya / Shutterstock.
Butsaya / Shutterstock.

We've all been there, the PTA meeting, soccer game or dinner party, and the inevitable question comes up: "What do you do?" And we all know that there are different levels of answers. You can simply respond, "I am a financial advisor." Or, you can expand a bit, and say, "I am a financial advisor. I counsel clients and manage money on their behalf, advising them on investments and estate planning." That's all well and good; your listener now knows what you do and maybe how you do it. But if you really want to explain the value you bring-what makes you different, that is, your value proposition-it's often best to relay why you do what you do. Explaining this to someone goes to the heart of who you are, and it resonates in an authentic fashion with your team, with clients, with prospective clients, and most important of all, it keeps you in touch with your story. Explaining your "why" starts conversations; it doesn't end them. So, here's my response to the "what do you do?" question:

"My purpose is to reflect and expand the light in financial advisors. A great advisory team plays an important role in a person's and family's life, helping them meet their everyday financial needs, goals and aspirational dreams, and is at the center of almost every major decision, from buying a car to weighing healthcare options when someone is ill. Financial advisors make a difference in people's lives, and my role is to recognize and celebrate the imprint they have made on their clients' lives, and energize them so that they can continue to thrive both personally and professionally, serving their clients and growing their businesses."

My answer allows a potential client to hear what differentiates me from other executive coaches. Now, what is your value proposition? Can you articulate it to connect with your team and clients? Here are a few steps to help you find (or rediscover) it.

1. Live your brand

2. Enact your mission

Five Disciplines of a Successful Fiduciary

3. Communicate your core values-and your value proposition

defend your fees Danielle Papandrea is the Head of BlackRock's Affinity Group. Rob Kron is the Head of Investment and Retirement Education for BlackRock's U.S. Wealth Advisory group. They are regular contributors to The Blog .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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