Financial advisers often claim they tailor financial plans to meet the client’s specific needs. But how true is this when the traditional focus is almost entirely on financial facts, spreadsheets and logical analysis?
The reality is 80% of financial decisions are made emotionally, not logically. Clients may sit through data-driven presentations but without an emotional connection advisers risk missing a crucial part of the equation. To provide meaningful guidance and a truly tailored financial plan, they must address the client’s aspirations as well as their finances.
As we all know, a financial plan is not just a strategy, it is a personal roadmap. Focusing solely on numbers means playing a 50/50 game hoping the client will commit to the plan. Understanding the whole client – their emotions, values and decision-making style – creates plans that truly align, resonate and last.
It’s about emotional data, not just AI
The future of financial planning is not just about AI or machine learning. While these technologies can aid the planning process they will not replace the human connection.
Data and technology should enhance client relationships, not replace them. Facts alone do not move people. Facts diffused with emotion do. The key to success for financial advisers will be understanding their client’s story, gathering their emotional data and integrating it with hard data.
This approach allows advisers to craft a Statement of Advice (SoA) that enables clients to live their best lives with the resources they have. Technology will assist but human insight and deep client relationships will always be at the heart of effective financial planning.
Soft skills and client retention
Client retention is often linked to an adviser’s ability to maintain strong emotional connections. Even if an adviser’s technical skills are exceptional, clients will leave if they feel disconnected. Conversely, advisers who nurture personal relationships retain clients even in turbulent markets.
Soft skills such as empathy, active listening and clear communication help advisers strengthen relationships regardless of market conditions. Clients who feel truly understood and supported are less likely to look elsewhere. In uncertain times it’s not just strategy that keeps clients loyal, it’s trust and connection.
Why thinking preferences matter in financial advice
Traditional financial planning assumes that all clients process information the same way, that is, through data and logic. However every person has a unique way of thinking, learning and making decisions. Whole Brain Thinking, based on the Hermann Brain Dominance Instrument (HBDI)®, helps advisers identify and adapt to different thinking preferences:
- Analytical Thinkers: Data-driven, fact-focused and logical decision-makers.
- Sequential Thinkers: Detail-oriented, process-driven and structured planners.
- Interpersonal Thinkers: Relationship-focused, emotionally connected and people-centric.
- Imaginative Thinkers: Big-picture visionaries, creative problem-solvers and future-focused.
- By tailoring advice to these preferences advisers can communicate in ways that truly resonate, ensuring clients feel engaged and understood.
Why going beyond the numbers is critical
Numbers tell only part of the story. Financial decisions are deeply personal, emotional and connected to life’s biggest milestones: retirement, home ownership, estate planning and family security. Clients are not robots calculating optimal investment strategies, they are humans with fears, hopes and unique ways of processing financial advice.
Consider a client hesitant to invest aggressively for retirement. A spreadsheet showing long-term growth potential may not be enough. An adviser who understands their thinking style and emotional concerns can ease anxieties, build confidence and provide reassurance in a way that resonates.
Advisers who go beyond numbers:
- Build deeper trust and stronger relationships.
- Ensure clients fully understand and commit to their financial plans.
- Help clients make decisions they feel confident about, rather than those they reluctantly accept.
- Increase client satisfaction, retention and engagement.
Retirement planning: It’s not just about ‘the number’
Retirement planning remains heavily left-brain focused. It’s all about finding your number, building spreadsheets and running cash flow simulations until you achieve an acceptable probability of success. But the reality is, your client’s life is not a spreadsheet.
What’s missing is value, nuance and context – the unique thinking preferences that shape how clients approach retirement and financial security. Instead of relying solely on ‘finding the number’, advisers must emphasise the bigger picture. It is less about a number and more about a realisation.
The challenge? Traditional financial and retirement planning is not changing overnight. However, advisers should begin integrating financial psychology, behavioural finance and thinking preferences into their planning conversations.
The goal is to bridge the gap between logic and emotion, ensuring that a client’s vision of retirement aligns with their thinking preferences and personal values, not just financial projections.
Applying whole brain thinking to client interactions
- First meeting – Take note of how clients react. Do they ask for facts, process steps, emotional insights, or big-picture ideas?
- Statement of Advice (SOA) – Present financial plans in a format that aligns with their thinking style.
- Ongoing service model – Match communication styles – structured check-ins for sequential thinkers, data-driven updates for analytical thinkers, relationship-focused engagement for interpersonal thinkers and visionary discussions for imaginative thinkers.
The role of psychology and behavioural finance in tailored advice
Beyond thinking styles, behavioural finance plays a crucial role in decision-making. Advisers must understand and address common biases:
- Loss aversion – Some clients fear losses more than they value gains.
- Over-confidence – Some clients believe they can outsmart the market.
- Herd mentality – Many clients follow market trends instead of personal goals.
By addressing these biases, advisers help clients stay committed to their plans, make rational decisions and feel confident in their financial future.
Building emotional connection in financial advice
Beyond psychology, a genuine emotional connection is the foundation of strong client relationships. Advisers who build trust and rapport create loyal, engaged clients who follow through on financial plans.
Strategies for emotional connection:
- Active listening – Pay attention to the client’s personal stories, goals, and fears.
- Personalised approach – Remember details about their lives and reference them.
- Open and transparent communication – Share both successes and challenges.
- Consistent follow-ups – Check in on life milestones, not just finances.
Final thoughts: Elevating advice beyond the numbers
Financial advising is no longer just about financial and investment strategies, it is about understanding the whole client. By adopting whole brain thinking, embracing behavioural finance insights and tailoring advice to thinking preferences, advisers can dramatically enhance client engagement, trust and success.
The future of financial advice is not just logical, it’s emotional, personal and tailored to the client as a whole person, not just their finances and their portfolios.
Advisers who master this approach will not just give financial advice, they will transform lives.
