Would a builder ask your permission to use a hammer to build an extension on your house?
Unlikely! And if he did, you’d probably doubt his competence as a builder, if not his sanity.
A hammer is a critical tool of a builder’s profession. Likewise, a dictaphone (used to record client conversations) is a critical professional tool for a financial adviser.
Surgeons don’t ask for their patients’ permission to use sharp scalpels, and pilots don’t ask for passengers’ permission to tell them to sit down when turbulence hits.
And neither should they.
Clients hire skilled professionals because they wish to attain the outcomes those professionals know how to deliver. They don’t expect to give those professionals permission to use the tools they need to deliver those outcomes.
To optimise your ability as a financial adviser to help your clients achieve their desired financial outcomes, you don’t request their permission to record your conversations, but rather, inform them of your intent to do so and assure them that their recording will be treated with the same confidentiality and respect as all their other data. If you sought their permission, and they refused to give it, your ability to capture all the pertinent information they shared would be significantly hampered.
And consider: A client who refuses to have their conversation recorded is likely indicating their reluctance to effectively engage as an advice client.
How would a surgeon respond if their prospective patient refused to allow them to use a sharp scalpel during surgery?
About Jim Stackpool
For nearly 30 years Jim has influenced, coached, and consulted to advisory firms across Australia. As founder of Certainty Advice Group, he leads a like-minded team of professional advisory firms seeking to create greater certainty for their clients. As an author, blogger, columnist, and keynote speaker, Jim is regularly called upon for his professional insights into the advice industry. His latest book Seeking Certainty is available now.