The PFS's online mentoring programme Connect has seen a surge in membership during the past 12 months, with more than 2,000 mentors and mentees sharing soft skills and experience across the profession.
Richards says: "Connect allows members of the professional body to match with other advisers at any point in their career in a mentoring capacity.
“Often both the provider and receiver of mentoring gain as much from the experience, which is evident in the feedback already being received.
"The great thing about the adviser community is that people are very keen to share their experience, which is also evident from the amount of volunteers for our pro-bono programmes."
Sharing best practice in these sort of environments where there is a moderator can be a good platform for coaching and development, Richards adds.
Scottish Widow's Barrow comments: "Behavioural scientist Daniel Goleman describes emotions as being contagious, and how businesses interact with customers will influence how those people will feel about the company, so it’s important to practice soft skills and consciously apply them during client conversations."
Better relationships
Can one make a direct correlation between the quality of the adviser/client relationship and the adviser's own emotional intelligence?
"Possibly", says Conscious Money's Lira. "My sense is that more advisers are aware of how their emotional intelligence does play a big part. It would be great to see this studied academically."
Benson comments: "The adviser/client relationship is unique and confidential, with a client laying bare to the adviser many very personal and private financial details, hopes and dreams.
"If a client is happy their needs are being handled professionally, sensitively and with compassion, then that would demonstrate that the adviser’s level of empathy and emotional intelligence is contributing to a quality client relationship."
The PFS' Richards makes the point that the global pandemic has created a situation whereby an adviser's "softer side" has been called upon more frequently.
He explains: “While Covid-19 has not necessarily created more vulnerable clients, I think it is fair to say that it has placed more people into vulnerable circumstances. This requires a broader range of skills in addition to technical know-how."
Barrow believes the need for emotional intelligence and being able to "communicate empathetically" has increased as many people have faced life events such as illness or incapacitation, financial difficulty, domestic or financial abuse, or bereavement.
This therefore means advisers need to feel confident about handling these sensitive situations. Indeed, there may be new soft skills required for an increasingly technical age.
