Everyone has an agenda. Unless you ask, there’s no way you’ll understand it – much less address it.
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If you’re an advisor who lists one of your services as coordinating with your tax professional, you’ll find it especially difficult to compete with a CPA who offers one-stop shopping. No need for “coordination.” Don’t be lulled into a false sense of security. There’s trouble on the horizon for many advisors.
If you want to convert more prospects into clients, focus on becoming more likable. I summarize the research correlating likability with sales in this article.
As a registered investment advisor, you extoll the virtue of your planning skills. You explain to prospects and clients the value of having a comprehensive wealth management plan.
For your prospect, what they have to say takes precedence. Of course, if you’re asked a question, the prospect has signaled an interest in your opinion. Until then, put your agenda away. Don’t assume anything.
Let’s say you’re meeting with a prospect. I want you to discard everything you typically do at these meetings (talk about yourself, your firm, your expertise, spin the conversation to financial goals, pursue an agenda, assume you are in charge of the meeting, etc.).