7 SECRETS For Bank Managers To Become the Trusted Advisor for Small Businesses in 2020

By December 11, 2019Banking

For bank managers who want to go above and beyond expectations as business financial advisors, it’s no secret that the process takes hard work and great talent as a finance expert. However, it will take much more than grit to make it an industry leader in the upcoming year.

Here are the seven major secrets in the industry that could help take your position to the next level.

1. Be aligned with the client’s needs and objectives

It’s very important to stand out as someone who is knowledgable about and willing to fight for a client’s specific needs and objectives. During the initial meeting with a new client, drop this question right away: “What are your business objectives?”

Make a note of what your client tells you and constantly return back to these goals through the process of working with them.

2. Be value-added

Someone who is value-added is someone whose advice and ideas you would respect thoroughly enough to invest your time and money into employing them, rather than purchasing a product.

Banking is now a commodity, and most clients know this. Be an advisor that can stand out as being a valuable wealth of knowledge and financial assistance.

3. Take your job very seriously

Get motivated and be willing to go above and beyond for your client. Effectively demonstrate your value– it’s very important to constantly make it very clear why a client has invested in you.

4. Be well-versed in industry niches

What small businesses do you plan on focusing on as a financial advisor? Different industry niches deal with very different scenarios in the business world. Too many bankers out there are extremely general– finding your experienced niches will make you stand out as an authority.

5. Artfully help clients consider alternative ideas

If a business owner is ready to make a major financial decision, that decision may not be the best option for them. This is why financial advisors should be transparent and informative about why certain options and choices are not wise for specific business transactions. The key here is to be candid and friendly about these conversations to cement yourself as a trusted resource.

6. Have a strategic mindset

Someone who would be considered smart in the business world has a mindset that is strategic. Every aspect of advisement should be strategic and based on professional opinion and experience. This can help you stand out as an authority to your clients.

7. Give more than you take

Think about what a typical meeting looks like between your client and yourself. Does the meeting have enough purpose? Is the client leaving feeling secure or at the very least educated about important matters with their business? You need to provide value to the time your clients spend with you. An hour-long meeting where topics of little value are discussed is essentially you taking from your client, rather than giving. Have a service-oriented mindset.


What do you think of our seven secrets for bank managers to become trusted advisors for small businesses in 2020? Tell us your thoughts and which secret resonated with you the most in the comments below!


Photo source: Pixabay


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