A new prospective client calls in. Perhaps they were referred, or maybe they found you online.
Do you jump right into a discovery-type conversation with them, ask them to meet with you, and bring along a stack of statements and other documents? Or do you suggest beginning with an exploratory or introductory conversation?
Ultimately it depends on what you want to communicate. Do you want them to think that you’re ready and eager to sign them up as a client sight unseen? Or would you rather communicate that at this point, you’re more interested in making sure that what they need from a financial advisor is exactly what you do?
If you think the second message positions you more professionally, then a clearly defined and well-orchestrated introductory conversation is the better approach.
Here is a three-step process you can use to conduct an effective introductory conversation.
You can ask them to tell you about themselves, their situation, what they are trying to accomplish, and what they are looking for in an advisor.
This approach communicates a client-first philosophy. Most people like to talk about themselves, which helps break the ice. And you have the opportunity to gain sufficient knowledge about the prospective clients to determine if they would be a good fit for what you do.
If you believe they are a good fit for your practice, you can align what you tell them about yourself to the needs, concerns and objectives they have already shared with you.
On the other hand, if you can see right away that they are looking for an entirely different approach, or their assets are too low, or you anticipate a personality conflict, then go directly to step 3.
If you believe they are not appropriate for what you do, you can say, “Based on what you told me about yourself, your situation and what you need from an advisor, as well as how we typically work with our clients, I don’t think we would be a good match at this time.”
If it’s a matter of not having sufficient assets, you can say, “Based on what you told me about yourself and your situation, I don’t believe I would be cost effective for you at this point.”
Using the phrase “at this time” or “at this point” communicates that you’re not entirely shutting the door to a future relationship if their needs change or they acquire additional assets.
However, if you do want to pursue a client relationship with them, you can say, “Based on what you told me about yourself and your situation, as well as how we typically work with our clients, I think we’d be a good match to move forward to our discovery meeting.”
At this point, stop and wait for their response. Depending on how well you’ve communicated your value to them, they’re likely to say, “Yes, let’s do that,” or, “Tell me about your discovery meeting.”
Most importantly, with a strong introductory conversation process, whether you agree to move forward to discovery, or you agree that you don’t have a good match, everyone wins!
Brought to you by Pathfinder Coaching & Consulting, https://pathfinderadvisor.com/.
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