Building Lasting Client Relationships

In a candid discussion, Natasja Norvall Hart of Evolution Wealth, who won the Financial Planner of the Year award in 2010, reflects on her extensive journey in the financial planning industry. She underscores the critical role financial planners play in their clients' lives, especially as they navigate significant life events. Natasja recalls a poignant statement from her award acceptance: "Doctors will make people live longer, and financial planners will help them afford it." Over the years, she has developed long-term relationships with clients, witnessing their growth and changes. This journey, according to Natasja, reveals the importance of holistic financial planning that considers both the present and future needs of clients.

Natasja highlights the evolving nature of the financial services industry, noting that product providers are increasingly shifting from a transactional approach to a partnership model. This change enables financial planners to enhance the client experience collaboratively.

She emphasises the value of the CFP designation, which has gained respect and recognition among consumers, as well as the significance of continuous professional development (CPD) in staying updated with industry changes. Ethics play a crucial role in financial planning, particularly in managing conflicts of interest, which Natasja navigates by maintaining transparency with clients about product providers. For emerging financial planners, she advises focusing on their strengths, defining their value proposition, and building strategic partnerships with others in the industry to ensure comprehensive client support and successful practices.

Key points

• Holistic Financial Planning: Emphasizing the importance of a comprehensive approach to client financial planning.

• Long-term Relationships: Nurturing lasting relationships with clients leads to better financial outcomes.

• Industry Evolution: Product providers are shifting from a transactional model to partnerships, enhancing client experiences.

• Value of CFP Designation: The CFP designation has gained recognition, enhancing credibility among consumers.

• Ongoing Professional Development: CPD is crucial for staying updated on industry changes and trends.

• Ethics and Conflict of Interest: Managing potential conflicts of interest through transparency and honest communication.

• Advice for New Planners: Understanding strengths and defining a personal value proposition are essential for success.