Kitces Nerd’s Eye View : The 30-Minute Prospect Meeting: A Framework and Agenda That Convert By Focusing On The Prospect’s (Immediate) Problem (March 23, 2022)

Kitces Nerd’s Eye View has made available for download for article, “The 30-Minute Prospect Meeting: A Framework and Agenda That Convert By Focusing On The Prospect’s (Immediate) Problem”. The article begins as follows:

EXECUTIVE SUMMARY
In recent years, financial advisors have increasingly recognized that making a personal connection with prospective clients early in the process (as soon as the very first introductory meeting) can make it more likely that the prospect will eventually become an engaged, motivated client. And so advisors often get personal with prospects early – in many cases asking them questions about their personal memories, attitudes, and psychology around money (e.g., “What is your earliest money memory?”) – with the aim of showing interest in the prospect as a person beyond the numbers on their balance sheet (which would theoretically serve to build an open, trusting relationship, and the kind of personal connection that the advisor wants to develop).
But in reality, asking such personal questions in an initial meeting (before any foundation of trust is built) can ironically have the opposite effect of what the advisor intended. Because diving into personal psychological profiles when the prospect may already feel anxious and vulnerable about meeting with an advisor could – from the prospect’s perspective – feel overly intrusive and ultimately put them off toward the advisor.

To see the full article, click: “The 30-Minute Prospect Meeting: A Framework and Agenda That Convert By Focusing On The Prospect’s (Immediate) Problem”

Posted by Mallory Wentz, Associate Editor, Wealth Strategies Journal.

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