First impressions start with your web page. Unfortunately, many advisors are badly misled by faulty advice about web site content and design.
However you define it, full engagement with a prospect is a worthy (but elusive) goal.
Empathy is the essential skill for building trust with prospects. Yet it is rarely discussed, much less taught. But it can be learned – and I’ve developed an approach that quickly develops empathy for advisors who are willing to embrace a radical process.
But I do have an agenda! I want to convert that prospect into a client.” I hear that quite often, but it is a misguided approach. Indeed, the biggest challenge advisors face when speaking with prospects is to adopt the mental state of a blank piece of paper.
You should have no agenda. “No agenda” is difficult for many advisors to grasp. If you really have no agenda, your goal is not to convert the prospect into a client. How can that be? Let me explain.
Here’s my recommended response to the question, “How are you different?”
Before every talk, I ask participants to send me their most pressing concerns. At, or near, the top of every list is “justifying fees.” That concern will grow as technology invades every aspect of the advisory industry. But you have a secret weapon that few advisors will use effectively to respond to this challenge.
What’s the most difficult question you get asked by prospects? Most advisors say it is how to justify fees and value. The problem is that very few advisors know the right way to answer this.
I meet hundreds of advisors every year. The extremes fall into two categories: supremely self-confident and supremely reticent. Self-confident advisors are typically extroverts. Reticent ones are often introverts. Which personality type is more likely to be a successful advisor?
I don’t know how I missed this referral opportunity for so long.