The relationship between a professional services firm and its client is rooted in trust. The client trusts that the firm will provide quality services and deliverables. The firm trusts that the client will make timely payments for those services and deliverables. Each new client relationship that the firm earns will start with minimal trust levels on both sides. After all, trust must be earned. Over the life of the relationship, the firm can earn higher levels of client trust by consistently providing high-quality services and guidance.

A primary goal of firm leaders should be aligning a “trusted advisor” with each strategic client. What is a trusted advisor in a professional services context? A trusted advisor is someone the client trusts to provide honest and accurate guidance that is not biased by the firm’s financial interests. A trusted advisor is a specific person in the firm who is responsible for the client relationship. The firm as a whole is rarely considered a trusted advisor by the client. Clients tend to trust people, not companies.

Not only should the advisor’s recommendations not be geared toward driving firm revenue, but also, the recommendations may actually reduce the near-term revenue from the account. The advisor could recommend that the client not engage in a particular project. Possibly, it would be more cost-effective to purchase an “off the shelf” product rather than build a custom solution. The advisor should always prioritize the client’s interests.

There are two primary reasons it is important to become a trusted advisor for clients:

1. It’s the right thing to do. Clients need you to help them solve important business challenges in the most effective manner for their business, not yours. It is ethical and right to always provide the best advice, even if that advice is to spend less money with your firm.
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2. It almost always improves revenue potential within the account over the long term. When clients view your relationship manager as a trusted advisor, they will come to you first any time there is a future project opportunity. Once they know that you place their interests before yours, you’ll get first crack at a slew of projects you wouldn’t have known about otherwise.
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So, if the goal is to become a trusted advisor, what’s the quickest path to getting there? Unfortunately, there is no Fast Pass to achieving trusted advisor status. Trust must be earned in small increments and can never be violated. As Kevin Plank, the founder of sportswear company Under Armour, said, “Trust is earned in drops and lost in buckets.”