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How to Build Trust and Competence in the Financial Industry with Ben Walker
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In financial services, meaningful relationships matter. Clients want to work with advisors who share their values and understand their goals, are open and authentic about their purpose, and are committed to making a positive impact.
In this episode, Steve talks with Ben Walker, Vice President and Head of Global Client Service at Dimensional Fund Advisors. With over 16 years of experience serving a variety of roles at Dimensional, Ben has become the leading expert in creating meaningful relationships.
Ben talks with Steve about the difference between going all-in in a relationship versus just having a great relationship. He also dives deeper into how to build trust and competence, which is critical in having a true all-in relationship, and why having purpose and wearing it on your sleeve is important.
Key Takeaways
[01:31] - A look at Ben's professional history and what relationships mean to him.
[05:34] - How Ben adapts every time he takes on a new role at Dimensional.
[07:51] - How to build trust and competence in a relationship.
[11:43] - How Dimensional establishes relationships with clients.
[18:00] - When to talk about what you want versus what clients need to hear.
[21:37] - The lessons Ben learned throughout his career.
[30:32] - What sets a great advisor apart from others.
[34:37] - How Ben keeps his energy levels high in the financial industry.
Quotes
[04:09] - "Always try and understand the advisor's business, their background, what they're trying to accomplish, and how they work with clients. Getting that perspective gives you a good lens into what is valuable in building a good relationship with that firm or person and ultimately supporting their client experience." ~ Ben Walker
[18:43] - "When you have a strong sense of purpose and you've thought through your advice model and your delivery of that, it's important to have conviction, wear that on your sleeve, and educate the client about what you think is the right solution and why. The growth of the RIA space is a testament to that model and that point of view." ~ Ben Walker
[24:39] - "Advisors that stick to some service plan or predetermined schedule are not setting the relationship up to move from vendor to someone who's a truly admired advisor." ~ Ben Walker
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Disclosure
For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third party data which may become outdated or otherwise superseded without notice. Third party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professional based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively, Buckingham Wealth Partners)
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