Create a Non-Transactional Relationship
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
Isn’t the essence of the advisory relationship transactional? They pay a fee. You provide services.
But the highest compliment I receive from clients is when they tell me they don’t feel like our relationship is transactional. It’s not something I consciously strive for, but I’m gratified when that’s the result.
A growing number of clients seek more than transactional interactions.
What is a non-transactional relationship?
A non-transactional relationship between a financial advisor and a client goes beyond merely exchanging services for payment.
It’s characterized by a personal connection and understanding, a long-term focus, trust and empathy, mutual respect and value, proactive engagement, comprehensive service delivery, emotional support, open communication, flexibility, and customization, and extends beyond formal agreements.