Much to our chagrin, we cannot be experts in all areas of finance.  Even if you hold yourself out to the public as a financial planner, the reality is it is unrealistic to believe you actually meet any reasonable definition of "expert" in every area of finance. So why create skeptical in your clients minds by implying, in any way, that you are.

What your Ideal Clients are likely to value much more than the illusion of you being an "expert in all areas" will be a view of you as their financial leader.  The individual who will ensure that all the other financial professionals in their life (tax people, investment people, estate planning & insurance people) actually collaborate before making recommendations.  If you are that person in their life who protects their interests by identifying and eliminating conflicts of interest and who finds the lowest cost products offering the highest quality, you will be indispensable. 

If you can represent their hopes, their aspirations, their dreams and their interests while you interact with their other advisors, you will truly be your Ideal Client's "Trusted Advisor."

So next time you are tempted to "take a stab" at answering a client question regarding something about which you are unsure, consider that you may increase their trust in you by saying "I'm not sure, but I know exactly who to call to find out."