Hot business tip number 12: Build your emotional intelligence

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Emotional intelligence can be learned.

Emotional intelligence can be learned.

Research[1] into the clients of leading Australian advice practices found what really matters to them – and what sets leading ‘trusted’ advisers apart – is their emotional intelligence (EQ).

Technical expertise and qualifications are now seen as hygiene factors and what really stands out in the minds of clients are the more ‘soft skills’ of their adviser:

  • Communication skills
  • Building rapport
  • Caring and being genuinely interested in clients
  • Identifying and understanding needs
  • Listening
  • Empathy

82% of those clients surveyed said these ‘interpersonal skills’ were the most important attribute they look for in an adviser, well ahead of ‘reputation’, ‘quality information’ and ‘technical skills’.

The benefits of becoming a trusted adviser are substantial; trusted advisers have (1) higher client advocacy and satisfaction, (2) better prospect conversion, (3) more involvement in their clients’ personal and financial affairs, (4) more profitable practices, (5) clients that are willing to pay fees and (6) stronger and more enduring client relationships.

The good news is that emotional intelligence can be learned.

As sponsor of the research, Zurich has worked with experts in the field of EQ to develop a number of resources for advisers seeking to build their emotional intelligence.

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1. Research conducted by the Beddoes Institute on behalf of the AFA and Zurich.

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This is an extract from a collection of business improvement tips for advisers, launched at Zurich’s Trax2Success national roadshow, featuring the 2013 AFA Adviser of the year Jenny Brown.

Click here to read Hot business tip number 1: Look after yourself and your staff

Click here to read Hot business tip number 2: Survey your clients

Click here to read Hot business tip number 3: Place a higher value on your time

Click here to read Hot business tip number 4: Review your client onboarding process

Click here to read Hot business tip number 5: Adopt an estate planning methodology across your business

Click here to read Hot business tip number 6: Tailor your communication strategy by client generation

Click here to read Hot business tip no number 7: Change your approach to review meetings

Click here to read Hot business tip number 8: Create a differentiated service offering (segment your client base)

Click here to read Hot business tip number 9: Set up a Board of Advice

Click here to read Hot business tip number10: Develop a client retention strategy

Click here to read Hot business tip number 11: Run a program where staff drive improvements

Click here to read Hot business tip number. 13: Go Social

Click here to read Hot business tip number. 14: Get better at handling objections

Click here to read Hot business tip number. 15: Create stronger referral sources

Click here to read Hot business tip number. 16: Set up a Google account

Click here to read Hot business tip number. 17: Learn from leading advisers

Click here to read Hot business tip number. 18: Make better use of technology in your business

Click here to read Hot business tip number 19: Improve your office environment

Click here to read Hot business tip number 20: Develop a great value proposition

Click here to read Hot business tip number 21: Make more use of video in your business

Click here to read Hot business tip number 22: Optimise your website for mobile

Click here to read Hot business tip number 23: Have a marketing plan

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