The Three Types of Financial Advisors

So many articles talk about the “different kind of financial advisors” and they generally focus on fee-structure. That’s all fine and dandy … but our passion within the CWA Network is that we’re focused on helping you create a great client experience. Fee type is really only a small part of it.

Right now, helping you create a great client experience first means shining the light on yourself!

Let’s get right to it & identify your “advisor persona”.


Advisor Type #1: The Implementer

Do you focus a lot on getting new applications? While this isn’t inherently a terrible plan, if left on it’s own, relying solely on building new clientele without following through on their objectives or creating unique strategies for them might not be the best platform for growing your business.


Advisors who start with implementation, and spend the most time on it, just want to get paid and often think it’s the best business plan due to it’s speed. They spend a lot of time on implementation but then rush through the remaining steps. Speed must equal efficient, right?
Not necessarily.

Consider this.

Think about the last time you went shopping for clothes. Did you have a sales clerk come rushing to greet you? Were they asking open-ended questions about what you were there for and what you need? Did you walk out with what you were looking for with the budget you had in mind? Or, did they just kind of push you along until the sale was done? Or, how about going to buy a new car? Same kind of thing – did you feel like your time was well spent, that your opinions were valued by the salesperson and that they spent time getting to know your needs, or were you just pushed along to purchase?

If the only real thing you’re concerned with is getting an application, then the truth is you cannot know what the client’s needs are. All you’re doing is selling to them. You can’t know what’s important to them. In a way, it’s kind of backwards.

It doesn’t set the stage for a great client experience.

Advisor Type #2: The Rusher


In polar opposite fashion to The Implementer, The Rusher-type of advisor flips the first’s progression on it’s head – they start with objectives and end with implementation. At first glance, you might think, “hey, what’s wrong with having the goals clearly defined at the onset?”. Nothing really, except that to get to the end stage of implementation, you can’t really spend adequate time on their objectives this way either, so once again, the objective stage is rushed.

An interesting trait of The Rusher is that they use low fees to bait new clients. The problem with this tactic is that it backfires almost immediately because it doesn’t set the client up with a foundation of trust. If they for example, are worth $5 million, what does it say about your time and capabilities if you’re only charging $2000? High net-worth individuals know the connection between time, money and expertise, so setting the fee bar low is not a great way to begin a great client experience.

Advisor Type #3: The Balancer


We might be a bit biased on this kind of advisor, but we’ve done the research to back it up. The Balancer advisor-type takes the most time on objectives, moving into strategy and ends with implementation.

The Balancer helps their clients buy and isn’t focused solely on selling to them. Only after everyone is crystal-clear on the objectives and everyone agrees on the goals do they move onto developing strategies. The strategies are what are all of the solutions available to the client and effectively listing all of the pros and cons of those solutions as they relate to them.

Once these two steps are firmly outlined, the actual implementation takes very little time.


Because you took the time at the onset to build the trust and confidence you needed for that great client experience. All The Balancer is doing now is going out and doing exactly what the client expects them to do.

No surprises.

So tell us: which one are you? What do you find are the pros and cons to how you operate?
Would you consider becoming The Balancer if you think you’re one of the prior two?


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