HR Corner Mutual trust the basis of strong client relationships by Christina Tai Innovative training and use of technology give financial planners the chance to impress A prerequisite for any professional financial planning advisor is to have an in-depth knowledge of various products and the returns they promise. However, that alone is no guarantee of success. As leading companies in the field recognise, the real skill in the business lies in how those products are explained to clients — something that the right kind of training greatly enhances. "Rather than direct selling strategies, financial planning advisors use question and answer techniques to build a relationship," says Julia Wong, senior vice president of agency and retail distribution for Sun Life Financial's Hong Kong operation. "This also helps clients realise for themselves what their financial needs will be at different stages of life." She adds that, once clients see how recommended products can be tailor-made to match their specific needs, they are far more inclined to respond positively. To ensure things start well, Sun Life Financial's training programme emphasises the importance of making a good first impression. Therefore, new financial planners are taught to convey respect, confidence and knowledge in their initial encounters, as a basis for building mutual trust. This is essential since, for the planning process to work effectively, the client must be willing to provide detailed personal information about income, family background, financial priorities, and lifetime ambitions. Financial planning advisors use question and answer techniques to build a relationship Extra skills Because of this, the company has introduced elements of neuro-linguistic programming to its training workshops. These deal with aspects of body language, questioning skills, diction, and the best ways of communicating with different types of client. The skills allow planners to be more adaptable and better attuned to discerning customer needs. So that various investment options can be explained more clearly, the company has also equipped financial planners with the "SunPod". It is a PDA device that functions as a mobile office. The advantage is that it not only has information about investment options, but can also contain details of a client's existing insurance policies, calculate premiums, do financial analyses, display fund prices, and even has contact numbers for doctors able to do medical check-ups. An alternative laptop device, "SunMagic", was launched in July and is already being used by more than 100 frontline financial planners. It includes additional information on the company's history, values, credit ratings, and other useful market statistics. Academic partnership In collaboration with the Chinese University of Hong Kong, the company is also offering an executive financial planning programme for advisors. Faculty members lead the lectures, while Sun Life Financial's learning and development centre provides a series of real-life examples which help to illustrate the basic principles. This ensures that, during the sales process, graduates can apply what they learn and that clients get the best advice and optimal packages for their individual requirements. "About 30 per cent of our 1,500 advisors have enrolled in the programme," says Ms Wong. "About 100 have already graduated and received diplomas which confirm a higher level of professionalism." All-round support - A variety of competitive products to meet different investment needs - Training to practise needs-based selling - Award presentations to highlight achievements and boost morale - Team culture that highlights joint achievements and objectives - Promotional campaigns in the mass media to support the brand - Direct mailing, road shows, client seminars, investment news, and fund performance updates Taken from Career Times 8 September 2006, p. B16 Your comments are welcome at [email protected]