Hurricane season has started and the World Meteorological Organization has already shared the 21 names for the season. This year’s list includes Danielle, Lisa and Walter. The list rotates every six years unless a storm is so severe that the name is permanently retired.
Scientists have long studied human tendencies to name things. For example, knights often named their swords and sailors have given names to ships for over a thousand years. As Macquarie University linguistics professor Ingrid Piller explains, “You name the vessel because it becomes your most important companion. You want to believe it has a vested interest in keeping you safe – even though it truly has no interests at all.”
Another reason for ascribing names to objects is to make them more explainable or predictable. As David Allen shared in a recent podcast, “When things we’ve allowed into our inner and outer world are appropriately and accurately identified and labeled, we feel curiously freed from them and simultaneously more in control of them.”
Financial advisors can bring a similar feeling of control and confidence to their clients by naming meetings, processes and more.
For example, an “Introductory Conversation” sounds much more purposeful than, “Let’s get together for some coffee.” Similarly, a client has a clearer understanding of what’s likely to happen at a “Discovery Meeting” as opposed to “our first appointment.” And when you ask your team to set up a New Client Welcome call, they should know exactly what that covers.
If you develop and manage portfolios for your clients, consider how you can add a sense of style and purpose by referring to your models by intentional names. For example, “Dividend Growth” or “Preservation Plus.”
You’ll find that by naming your process, the steps you follow, and the portfolios you manage, you communicate that you have created something with a defined framework that stands on its own merit. You’ll have more confidence, and your clients will too!
Brought to you by Pathfinder Coaching & Consulting, https://pathfinderadvisor.com/.
The representations and opinions herein are the opinions and view of Pathfinder Coaching & Consulting and are not the opinions or views of EQIS. The information is believed to be reliable but is neither guaranteed by EQIS nor any of its affiliates. EQIS and Pathfinder Coaching & Consulting are not affiliated.
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