Turning Success and Challenges into Growth for Advisers
By Michael Summerton
As advisers, the road to success is never linear. There are high points – investments that perform well and strategies that pay off – but there are also inevitable setbacks.
The key to thriving in this profession isn’t avoiding challenges; it’s learning from them.
The power of storytelling is instrumental in turning both successes and failures into valuable learning experiences that shape your future and your clients’ trust in you.
Learning from success and failure
When we think about storytelling in business, we often focus on success stories. However, stories about challenges have impact too.
Clients appreciate when advisers share their victories and the moments when things didn’t go as planned. These stories humanise you, making your advice feel more relatable and genuine.
I attended a talk 15 years ago where the speaker shared three stories that are still with me today, much more clearly than any data he presented.
That’s because the stories weren’t just about successes – they were about real experiences that had a lasting impact.
Those stories carried lessons that transcended the details. This is what makes storytelling so powerful – it’s about conveying something real, something memorable.
Evolving through learning
INN8’s platform is designed to learn from both the successes and challenges faced by the advisers who use it.
By listening to your feedback and experiences, INN8 continually adapts, enhancing the platform with new tools and features that help you guide your clients through the ups and downs of holistic financial planning.
This cycle of learning ensures that the platform grows with you, supporting your role as a trusted adviser who knows how to navigate both opportunities and obstacles.
One example of this evolution is INN8’s Multiple Models feature, which allows advisers to blend multiple model portfolios or standalone funds in a single client account.
This feature wasn’t just created to provide flexibility – it came about because we understood that advisers need the ability to tailor investments to fit the unique stories of each of their clients.
With this tool, advisers can mix and match investment strategies to create a solution that truly aligns with their clients’ financial goals and life narratives.
Applying storytelling in your advice practice
The real power of storytelling lies in how you apply it to your client interactions. To build trust and engagement, consider focusing on these key elements:
- Make it relatable: Clients need to see themselves in the stories you tell. Succeed or fail – each journey of yours has the potential to resonate with their personal journey. Use examples that align with their financial goals, challenges, or life stage. The more personal and human your stories are, the more they will connect with your clients.
- Build suspense: Don’t give away the ending too soon. Just like any compelling story, the journey matters as much as the outcome. Take your clients through the process – the ups, the downs, and the turning points. When they feel involved in the narrative, they are more likely to engage with the advice you provide and trust in the long-term vision.
- Be authentic: Authenticity is key. Clients can tell when a story is forced or polished to the point of losing its meaning. Share stories that are real and reflect your own experiences – whether it’s a hard-earned success or a lesson learned from failure. Authenticity builds trust because it shows that you’re guiding your clients through a financial journey that matters.
By incorporating these elements into your practice, you elevate your role as an adviser, a skilled and trusted confidant who guides clients through the story of their financial life.
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