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How to build trust with customers?

Journalist: Jake Carter, Mortgage Introducer

ended 11. October 2023

Two-fifths of customers are uncomfortable discussing finances with lenders or landlords, according to charity StepChange.

How do you build relationships with customers?

How do you build trust?

How do you reassure them on a financial basis?

How important are these skills to a broker?

10 responses from the Newspage community

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Michelle Lawson
Director at Lawson Financial
This is interesting however I think people have been bred to be careful about sharing information. That said, in my past experiences, most people that don't feel comfortable have had something they were embarrassed about or thought I wouldn't find out/didn't want me to find out. Once they have opened up and a solution found things got better. Trust is built over time, simplicity and good results however, the days of untrustworthy social media and 'pub advice' also. We also have to bear in mind we can only help those that want to be helped.
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Simon Bridgland
Director at Charwin Private Clients
Trust has to be earned over time, so if a broker simply tries to sell a product then that trust is shattered. Often a good conversation with a potential client will simply be to explain things and answer questions. The key point is to do this in the clients own language. Trying to impress a client with confusing explanations about the mechanics of a product at the get go can often put people off, who wants to feel daft or intimidated because they don’t fully understand the topic they want to learn about or may urgently need.
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Stephen Perkins
Managing Director at Yellow Brick Mortgages
The biggest factors in building trust are client reviews showing the level of service you provide and clear and regular communication, to reassure them that you are there for them to hold their hand through the process.
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David White
Chief Operations Officer at Simply Lending
Trust and reassurance should be borne out of treating everyone as people first and “customers” second.

It’s so important that when a Mortgage Adviser gives advice and guidance they consider the question “Would I give the same advice to my best friend or family member”.

Being transparent about the process and genuinely putting people's best interests at the forefront of every decision builds lifelong relationships.
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Gary Bush
Financial Adviser at MortgageShop.com
We find that since providing our clients with a greater level of transparency in the use of our online client area and bespoke automated case update systems we find they are both trusting of our services and open to creating a lasting relationship with us. People don't like discussing and disclosing their financial details and they pick who to trust from those very early connections with financial firms - it's important to make people feel in control of arrangements rather than burdened with demands.
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Peter Stamford
Mortgage Expert at Stamford Home Finance
Building a strong relationship with clients goes beyond just crunching numbers; it's about creating a sense of empowerment rather than burdening them with financial jargon and demands. Transparency is the cornerstone of trust, but it's equally important to treat everyone as individuals first and "customers" second. The advice I offer is the same advice I'd give to the people I love—no exceptions. With "post-truth" social media blurring the lines between fact and fiction, and when well-meaning family members can accidentally mislead; genuine, straightforward guidance is invaluable. Trust isn't built overnight; it's earned through consistent, honest, and effective communication
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Scott Taylor-Barr
Principal Adviser at Barnsdale Financial Management
The key element to building trust with customers as a broker is to demonstrate that you are on their side and that your entire role is focused on them and their needs, if the customer is James Bond then their broker is Q. When customers interact with banks and landlords directly there is always the nagging doubt that they're being told or offered whatever is in the bank's or landlord's best interest, not their own, with scandals such as PPI backing up that doubt. So many customers find it very reassuring to have an expert in their corner, looking after their best interests and guiding them through, with a selection of gadgets and tech, of course.
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Adam Smith
Founder at Alfa Mortgages
The bulk of our clients come to us through referrals, which speaks volumes about the trust and rapport we've built. This social proof makes it significantly easier to establish and nurture relationships because you can't provide sound advice without a solid foundation of trust and connection.
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Sabrina Hall
Mortgage Adviser & Protection Adviser at Kind Financial Services
Trust is everything when it comes to financial advice. It can be hard for people to talk about their finances and they need to know that they can have open conversations without being judged. I try to reassure my clients that there is nothing they could tell me that I've not heard before and that talking about and planning your finances is a huge step towards being in control of them.
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Austyn Johnson
Founder at Mortgages For Actors
Talk to them like a person. Meet them out for a coffee. Make sure they know that you have their best interests at heart and are trying to help. If they do not want to share a doc etc, explain to them why you need it and what it shows you. They are worried because they dont trust you or do not understand. Understand them. There are too many rushed and rushing advisers out there it means people sometimes do not get the experience they deserve. Talk to them and listen to them like you would to your parents.