Advice = Knowledge + Wisdom
Knowledge is about external facts—pertaining to financial products, the markets, and individual needs—and wisdom is about what you do with those facts.
Clients need both. So in your weekly updates, commentaries, newsletters, or client communications, do you incorporate a healthy mix of the two?
It’s tempting to err on the side of knowledge and information, because in the other direction lies opinion, intuition, gut feelings, and all the other impulses that lead to speculation. But it remains that one of the reasons your clients hired you is your good judgment—it’s something an algorithm can’t offer and it’s what makes you, you. If you can articulate some of that wisdom alongside the updates you share with your client base, you might find your communications become more valuable.
Because people will connect intellectually with knowledge, but they will identify on an emotional level with wisdom, and emotion is a powerful driver of trust, commitment and advocacy.
