As a mom of soccer players, I hear my kids’ coaches reiterating the importance of anticipating what is going to happen next on the field—where the ball is going to go, when the opponent is going to make their move. If you think about it, the ability to foresee what is going to happen before it happens is a vital talent in many sports. But it’s also a crucial skill for financial professionals.  

I recently had a meeting with a Vertical IQ client—a banker, who was relatively new to the banking industry. She told me that she had just met with a business owner-client who is getting ready to retire. The banker asked the business owner an interesting and very insightful question: What was one thing you wished your bankers had done differently to help you be more successful over your career?

The business owner replied that he wished his banker had been able to help him be better prepared to handle the unknowns. For example, he wished someone would have encouraged him to apply for a line of credit when things in his business were going well, rather than waiting until he “needed” it due to a downturn, because it is easier to get the loan when it isn’t needed.

Predicting potential financial needs

This story really resonated with me—it drove home how important it is for financial professionals like bankers, accountants, and financial planners to stay up to date on trends within their clients’ industries so that they can offer them appropriate guidance.

But the comments from the retiring business owner made an even more salient point: Business owners are looking for someone who can actually anticipate their needs, providing them proactive advice rather than reacting to an issue when it arises.

And this is where Vertical IQ can become an invaluable tool for financial professionals of all stripes. Each of our 427  Industry Profiles provides you with chapters entitled:

  • Industry Trends: Offers a look at recent happenings within the sector, in addition to employment and wage trends.
  • Risks To Watch Out For: Includes information on merger and failure rates for businesses within that industry, as well as company risks, and broader industry-related risks.
  • Industry Forecast and Structure: Provides information on sales forecasts, plus details on the size and structure of the industry.

Each of these Vertical IQ Industry Profile chapters provide you with valuable insights on your client’s industry. Armed with this type of in-depth, industry-specific knowledge, you will be able to better anticipate your client’s current and future financial need and offer them more proactive advice.

The knowledge to be proactive

The competition is stiff in the financial world, so set yourself apart by offering your clients proactive solutions to their potential business challenges. Just like a great soccer player on the pitch, a talented financial professional has the ability to foresee what is going to happen next for their client’s sector.

By using the industry insights found on Vertical IQ, you will be able to better-anticipate your client’s financial needs, helping their business thrive while bolstering your own value proposition.

Ready to get started? Contact us today to learn more or for a Vertical IQ demonstration!