Distraction-Proof® Advisor Ideas

When a prospect lets you know they’re going to be talking with other advisors also, don’t get upset. Just use words like this.
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Often in the first prospect meeting in your office, the prospect will let you know they’re also looking at other advisors and interviewing them. And that’s OK; you don’t need to get uptight about it. I’ve spoken with advisors who do, and they let the whole meeting get hung up on that particular emotional point for themselves. Instead, just listen to it calmly and log it in the back of your mind, because you’re going to come back to it.

So, the meeting has progressed. You’ve explained how you would work with them on the investment management piece of their lives, but most importantly on the financial planning aspect of their lives. Now come back to the fact, “You mentioned about talking to other advisors about how they work – and there are some really great advisors around the area.

“We like to take the perspective like an architect and builder would, who is based in Jacksonville, Florida. Anybody can build a home for people to enjoy in the sunshine, but if you’re an architect and builder in Jacksonville, Florida, you have to design a home that can withstand hurricanes, that can withstand disasters that can totally wipe out whole areas and leave them devastated.

“When we’re putting together a financial plan those are the aspects that we have in mind for you, for instance with market volatility. Or with our high net worth families, we are looking to protect assets from legal issues and what have you. We’re looking at getting into the nuances of tax planning with their CPAs and estate attorneys.

So, while we want to talk about wonderful plans and financial planning with you realizing your aspirations, we also structure a plan around the worse case scenarios. So that means on the sunny days, you can enjoy things to the fullest, knowing that in inclement weather everything should still be just fine.”

So,

1. As an advisor, have this language dialed in. Have the scenario in your mind and know exactly where you’re going to bring this in during the course of the conversation, should they raise the issue of interviewing other advisors.
2. To do that effectively, you have to know this language and have practiced it. Be ready to say it over and over and over, and continually use it.
3. Use it. Even though the first or second times you bring it out, it might feel a little awkward, get comfortable just defaulting to this picture when prospects say, “We’re going to talk with other advisors.”

You want to set yourself apart from other advisors out there, even if they live just down the block. Give prospects a picture that will keep you top-of-mind. You can guarantee that every time they see a hurricane or similar disaster [in the news], you’re going to come back to be top-of-mind for the right reasons.

I look forward to bringing you another Distraction-Proof Advisor Idea next week.