Opinion: How to spot a Trusted Adviser

Richard Ollis

How do you spot a Trusted Adviser? The difference between a vendor and a valued adviser is significant, yet it’s easy to get confused, especially when short-term pricing comparisons dominate the conversation.

Early in my career, I made that mistake. I believed I was competing strictly on pricing, terms and conditions. And while those elements matter, they are only one part of a long-term business strategy.

I learned this lesson the hard way. I once had just one week left on a difficult renewal. Instead of educating and preparing my client throughout the year, I scrambled at the last minute to find a better deal. They fired me. I was escorted out of the building. As devastating as it was, I deserved it. That experience launched a career-long journey to become more than a vendor – to become a Trusted Adviser.

Over the years, I’ve found that Trusted Advisers share certain qualities and practices that set them apart.

Good processes build trust
Predictable outcomes come from process, and process builds confidence. A proactive approach supported by clear communication is foundational to becoming a Trusted Adviser.

Regular meetings matter
Meeting consistently, ideally in person, builds understanding and collaboration. It allows the adviser to learn about the client’s business and challenges in real time.

Planning ahead eliminates surprises
Establishing a timeline, working in advance, and communicating frequently prevent last-minute scrambling. It demonstrates that you are not only prepared but anticipating what’s next. If there is bad news, deliver it early with a plan to mitigate its impact.

A team brings depth
Professional advisers rarely operate alone. A strong team brings specialized expertise, diverse perspectives and continuity for the client. When knowledge resides with only one individual, outcomes are inevitably limited.

Credibility comes from candor
Sometimes the best advice requires recommending change, even when the client does not initially see the need. Transparency is also essential. A Trusted Adviser acknowledges when they cannot help and, if appropriate, recommends another resource, even a competitor.

The transformational role of advisers
Over time, Trusted Advisers can transform businesses and families. Success is rarely achieved alone; it depends on the quality of the advisers you choose. Behind every thriving organization or family, you will find a team of professional advisers contributing to their success.

Richard Ollis is CEO of Ollis/Akers/Arney and is Springfield Business Journal’s 2024 Legacy Adviser in the Trusted Advisers award. He can be reached at RichardOllis@ollisaa.com.