Can you love a person without trust? Can you remain loyal to someone you do not trust?
In fact, it would be hard to live with someone you do not trust because what if they harm you in your sleep? That’s a tough thought, right? Okay, okay, maybe it’s not always that extreme, but there’s a reason people do not maintain long relationships with those they don’t trust.
Trust is the cornerstone of building long-term relationships—not just romantically or in friendships, but also in business and finance. Sure, sometimes a one-off interaction works—“work and go,” never to meet again—but businessmen and financial advisors recognize that trust is key to establishing lasting partnerships with clients. Sometimes, you need to “show up and show out” to build this trust, leaving mere transactions aside for a while.
Trust is gained through actions, not just words, and here are some ways financial institutions prioritize gaining your trust:
1) Clear as Glass
One of the fastest ways to lose respect and trust is when there are holes in your words. When communication is crystal clear, it’s easier to build trust in such relationships. We understand the importance of ensuring that you fully comprehend the risks, benefits, and fees associated with financial products.
At Credlanche, our team of professionals ensures you know everything you’re signing up for before you actually sign.
Also, while using jargon can make one sound smart as a specialist, it creates a gap between the business and the client. That’s why we always break down complex financial concepts into understandable terms, ensuring you are fully informed before making any decisions. Transparent communication builds confidence, and clients are more likely to rely on advisors who are upfront about potential outcomes.
2) Never Ghosting
Nobody likes someone who is unreliable, appearing and disappearing like a switch. One moment they’re present, the next, you don’t know where they are or when they’ll be back until they need something. This behavior speaks of unreliability, and naturally, you don’t trust or build with unreliable people.
Consistent communication, even when no immediate transactions are required, shows that the advisor is invested in your long-term success. Regular check-ins to review financial progress and update strategies reflect ongoing support and care. Additionally, overcoming hard times together and offering solid, reassuring advice during these periods solidifies the relationship, proving the advisor’s long-term reliability
3) Emotional Intelligence and Empathy
If you open a chat with Snapchat’s MyAI or Meta AI, you’ll see how hard technologists are trying to add an element of humanity to communication. It’s not far-fetched—some questions and interactions aren’t just about getting answers. Sometimes, you need someone to talk to, someone who can relate to your troubles. But can AI relate to T-Pain? That’s a big no!
Trusted advisors or counselors actively listen to their clients’ concerns, fears, and financial anxieties. Their empathy and emotional intelligence are crucial to building trust because they show clients that their advisor genuinely cares about their emotional and financial well-being.
And when people say “misery loves company,” it’s not always about spreading sadness; it’s about making it easier to get through a tough time when you know you’re not alone. Financial advisors who help clients navigate major life transitions, such as the loss of a spouse, job changes, or family growth, establish deep, trust-based relationships.
4) Aligned Incentives
If we’re both hanging off a cliff and my survival depends on yours, you can be sure that I’ll do everything I can to ensure you survive. Some financial institutions use a remuneration method called performance-based compensation, where their fees are structured around client success. This demonstrates a vested interest in the client’s long-term financial well-being and builds mutual trust and loyalty.
When clients feel their advisor is committed to their success and genuinely cares about their financial well-being, they are more likely to remain loyal and engaged for the long haul. If you look closely at your investment company, you’ll see more ways they’re working to earn your trust over the long term.
In case you’re new to this or searching for another option, chat or call our customer service at (234) 812-3778-399 for more information on investment, credit, and asset management services.