What to Do When Prospects Think You Will Sell Them

Dr. Maribeth KuzmeskiAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

What your clients know is often profoundly disconnected from what your prospects think.

Your clients love you because they know how great you are at your job and how well you treat them. They truly appreciate all the work you have done for them. And, in many cases, you have changed their lives. You’ve helped make those big milestones – weddings, buying a second home, retiring early – happen.

Due to perceptions of the brokerage industry, prospects, on the other hand, are weary of you. Even if they were referred to you, you’re just another person vying for their “business.” They believe you may try to sell them something. They don’t quite “get it” or “get you” yet.

Plus, people are often looking for reasons not to see a financial advisor. They may be embarrassed that they don’t understand how investing works, or they know they are spending above their means. Most importantly, no matter how wealthy a person may be, they likely have not been perfect in their handling of money.

It is also tough to make a move to a new financial advisor. And it is time consuming to share everything in your financial life with someone else – and can cause great anxiety – especially for those who have great wealth. What if the instinct was to put it off?