Relationship building and selling skills are the most valued attributes successors of financial planning businesses can possess, a survey of 230 principals across Australia has revealed.
Conducted on behalf of MLC's Adviser Business Centre and National Australia Bank's financial planner banking team, the survey showed 96 per cent of principals rated the relationship building and selling skills of future business owners as "important" or "very important".
This was followed by a diploma in financial planning at 81 per cent and strong technical skills at 79 per cent.
"Technical skills are important and should be kept current, but it's encouraging to see that relationship skills also rated highly in the survey results," MLC general manager of business growth and succession Wayne Handley said.
"The ability to build and maintain relationships with clients, staff and business or referral partners are paramount to being a successful financial adviser and ultimately running a successful business."
Advice is not just about the technical knowledge to address the client's situation, it's about helping the client to understand how the advice will help and ultimately assist them in achieving their goals, Handley said.
According to the survey, compiled in September 2008, 78 per cent of principals rated experience in running a business as "very important" or "important".
This was followed by the number of years in the industry at 68 percent, certified financial planner certification at 52 per cent and other qualifications at 38 per cent.
