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11 Interesting Strategies to Advice Clients

If you are a new wealth advisor, you would have been constantly reminded to advise clients according to clients’ needs.

But when your advisory journey begins, you quickly discover 2 new needs:

  • Need to fulfil company sales target
  • Need to earn a good income and keep your job

While you struggle with which is more important, you always tell clients their needs are first.  When your boss talks to you, the company sales target is the most important, which you quickly add on – and also properly advising clients (for regulatory and compliance purpose) .

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And when you get home, you tell yourself your own needs is as equally important.  Advisors suffer the same professional moral hazards such as a lawyer and consultant – whose interests are the most important?

Here, we look at 11 interesting strategies to advice clients:

Read More:


No. 1 Advice What Clients Need


Advise what clients need – this is the official, politically & regulatory acceptable reply to clients.  It also makes the sales pitch more convincing.

Uncovering clients’ needs is very important, it allows you to understand their financial situation and potential wealth, qualifying them if they are your target clients.


No. 2 What is the Most Popular

Portfolio Allocation
Portfolio Allocation


The most popular products are the easiest to advice.  Majority of clients are generally trend followers, and follow what other clients are doing. Despite them wanting to be different and do better than others, they prefer to use the popular solution – herd mentality.

Learn More: Most Popular Investment Theories Clients Ask Wealth Managers


No. 3 What Your Company Needs

Bank of China
Bank of China

All financial institutions invest heavily into the infrastructure set-up and regulatory adherences.  Thus, companies will need to be profitable to be able to do so.  Inevitably, your company will need more sales, revenue and profit to continue to maintain the stability of the financial institution – which ultimately earns the trust of clients.  Read More: 7 Reasons why Large Financial Institutions and Banks have a Natural Advantage in Wealth Management Business

You can support your organization growth by advising what your company needs.


No. 4 What Your Financial Institution Recommends

Global Investment Committee
Global Investment Committee

Every financial institution have their own investment & economic forecasts, and the recommended products and solutions.

The advisor can simply follow what the financial institution recommends.


No. 5 What Your Peers are Doing

Private Banking Team
Private Banking Team

Ever wonder if you are giving the right advice or the optimal solutions to your clients?  Look no further than your peers.  If that’s what everyone is doing, it shouldn’t be too bad.

Or at least when things are going wrong, there is safety in numbers.


No. 6 What is the Most Exciting?

Financial Markets
Financial Markets

Recommending the same wealth products to clients can be boring.

How about recommending the most exciting products? Margin trading, Options on stocks, Africa Unit Trust (if this exists at time of writing).

Related Articles:


No. 7 What is the Easiest to Sell?

Client Acquisition
Client Acquisition

Wealth Management products are complex.  In Investments alone, you could be looking at stocks, preferred shares, depository receipts, fixed income, bonds convertible bonds via direct securities purchase, unit trusts, mutual funds, funds of funds, exchange traded funds (ETFs), synthetic ETFs, hedge funds, funds of hedge funds, structured notes, derivatives, options, futures, margin trading, IPOs, Pre-IPOs and more.

How about other wealth management products?

Related Articles:


No. 8 Recommending What Clients Have Done Before

” If it’s ain’t going wrong, don’t fixed it “

If it’s ain’t going wrong, don’t fixed it – a popular way to advise clients is to advise clients what they have done before.  You spend less time educating clients and you get your sales done with minimal advisory work.

Related Articles:


No. 9 Advising the Safest Product

Mutual Funds
Mutual Funds

Wealth Managers and Financial Advisors are constantly worried about products going wrong.

Common Worries:

  • Big losses from Investments
  • Funds Shutdown
  • Product Failures


No. 10 The Ones that Have the Highest Returns (probably highest risks)

Portfolio Projection
Portfolio Projection

Perhaps being safe and conservative isn’t so exciting when it comes to managing money.  If you could generate 50% returns in 3 months, why settle for 3% a year?

Example of High Risk Products:

  • Equities
  • Emerging Market Debts
  • Leverage Structured Notes
  • Margin Trading
  • Options & Futures


No. 11 What You Need

Private Banker
Private Banker

Providing great financial advice is important, but what if you are the best advisor whilst your job is at risk?  What if your firm is on the verge of collapsing the next month?  What if your promotion is at stake?

Should you place your needs first or do you do:

  1. What Clients Need
  2. What is the Most Popular
  3. What Your Company Needs
  4. What Your Financial Institution Recommends
  5. What Your Peers are Doing
  6. What is the Most Exciting?
  7. What is the Easiest to Sell?
  8. Recommending What Clients Have Done Before
  9. Advising the Safest Product
  10. The ones that have the highest returns (probably highest risks)
  11. What You Need

Don’t know which strategy to choose? You can pick a few and you should end up building a diversified portfolio for clients and meet the most common financial needs of clients.

Interesting News Link:

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