Describing Your Value to a Client or Prospect

rob knappAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Whenever I interview a prospective coaching client, I first ask them to describe their practice to me as if I was a potential client. Most people stumble because they don't have a clear understanding of what they are offering beyond their investment advice. I was working with several strong advisors from Florida and asked each of them to give me bullet points that demonstrate the strength of their practices. I heard the following:

  • 45 years of experience;
  • We build trust;
  • We give proactive advice;
  • We get to know you beyond your portfolio; and
  • Full solutions.

When I heard those bullet points, I thought back to the training I had very early in my career. That training was to know the difference between features and benefits. Facts are important. But just stating the facts doesn’t tell the prospective client what it means to them. It's too vague.