The more painful the situation, the more motivated we are to act. Here, we share an example of how an advisor can build a relationship with a client to become a trusted advisor and how that trust helps inspire referrals.
My grandmother always had something witty or wise to share. One of her favorites had me imagining vivid pictures of pounds of medicine in bottles and spoonfuls of colorful liquids.
As the financial services industry has evolved away from transactions and toward financial planning, an interesting shift has happened: more couples have started showing up in advisors’ offices to discuss their investments and their financial plan.
What a difference a decade makes!
As of this writing, Russian forces are reorganizing in eastern Ukraine, and fighting is well into its second month. Supply chain disruptions continue, gas prices are reaching all-time highs, inflation has become a constant concern, and some analysts are predicting that the Fed will aggressively raise rates.
When I meet with a financial advisor in her office, I look around and think, “What do the displayed items tell me about you? Who or what is in the pictures, and why do they matter?”
One advisor whom I coach uses a color-coded checklist with every client to track which areas of a financial plan have been completed and which tasks are pending. It’s a brilliant way to shift a client’s attention from portfolio performance to the larger, more important elements that make up a holistic financial plan.