It’s personal: Understanding what drives client decisions

Choosing a financial adviser is one of the most important decisions a client will make on their journey to financial security – and it’s rarely just about credentials or investment returns. Clients are looking for someone they can trust, who understands their unique circumstances, and who offers clear, personalised advice.

In an increasingly competitive and regulated environment, advisers need to think beyond technical expertise and consider the factors that truly shape client decisions: communication style, transparency, emotional intelligence, and a commitment to long-term partnership. MoneyMarketing spoke to Cape Town-based financial adviser Cameron McCallum, CFP® CA(SA) Managing Director & Wealth Manager at Netto Invest, to get his opinions on how clients go about choosing a financial adviser.

What are the most important qualities someone should look for in a financial adviser, beyond qualifications?

A strong adviser-client relationship is built on mutual trust and rapport. Since financial planning is a long-term journey, it’s essential to feel personally comfortable with your adviser and confident in their integrity. Beyond trust, a good adviser takes a truly client-centric approach – investing time in understanding your family, values, background, and unique circumstances to tailor advice to your specific needs. It’s also beneficial when advisers operate within a team environment. This not only ensures continuity of service if your primary adviser is unavailable, but also enhances the quality of advice through collaboration, shared experience and collective research.

How can people tell if a financial adviser truly has their best interests at heart?

A good financial adviser listens more than they talk. They ask thoughtful questions, listen intently, and aim to fully understand your situation before making any recommendations. Rather than simply instructing their client, the right adviser empowers them to make informed decisions, acting more like a financial coach who is here to guide and support through every step. Their advice is never one-size-fits-all; instead, it’s tailored to each client’s unique needs, with clear explanations and context behind each recommendation. Transparency is also key. They should be able to make clients feel at ease discussing fees and any potential conflicts of interest. An adviser with integrity won’t shy away from these conversations.

What red flags should clients watch out for when meeting a potential adviser for the first time?

Advisers should never talk more than they listen. Dominating the conversation or focusing more on themselves is a massive red flag for clients. Never make a client feel rushed or pressured into making a decision; high-pressure tactics are a warning sign. Transparency is also essential – if an adviser is unclear or evasive about how they’re compensated, it sends the wrong message. Unrealistic promises, such as guaranteeing high returns or downplaying the risks associated with investing, will also make clients wary.

How important is it for an adviser to be independent, and how does that impact the advice given?

Independence often allows for a wider range of solutions and fewer restrictions, which can lead to better advice. While not always essential, it generally reduces the risk of bias. What matters most is transparency. Clients should understand whether the adviser is limited in the products they can recommend, and whether any conflicts of interest exist that could influence the advice.