XY Adviser – Providing Value Through Education

The team from XY Adviser played host to nearly fifty advice professionals in Sydney during April, all eager to hear from AFA Adviser of the Year, Eleanor Dartnall. Ms Dartnall presented on her unique approach to client on-boarding, in which she takes each person through an education process, designed to improve engagement and empower her clients.

As well as talking guests through her process, Ms Dartnall offered the following words of wisdom:

  • “Educating your clients at the time you present their advice plan is like building a house without first having established the foundations…”
  • “If some of the advice we’ve been hearing about in the press had been given to an educated client, they probably wouldn’t have taken it, and we wouldn’t be hearing about it.”
  • “Take the time in the very first meeting to find out what your client knows about finance – their level of financial literacy – and make sure you talk at their level. Segment your clients by how much knowledge they have.”
  • “If you take this approach to advice, it will be harder, it will take longer and you may not be able to charge as much for it – but it is absolutely worth it!”
  • “Always remember – it’s their money, not yours. You need to construct the plan together.”

Ms Dartnall also praised the XY Adviser team for bringing advisers together to share their approach to best practice: “This initiative is one of the most exciting things I’ve seen happen in the industry in years – sharing between advisers is so important. We should do more of it!”

Guests then took the opportunity to network with their peers, a crucial part of the XY Adviser proposition.

The event was put on with the support of BT Life Insurance.

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